News that the UK was now in recession delivered a little boost for stocks on the basis that this ought to serve as another wake up call to the Bank of England in terms of monetary policy shortcomings. As a result the AIM index managed to find some support through the session, although gains were limited to just a couple of points, reaching the bell at 752.48.
- Libertine Holdings +104%
- Jarvis Securities +34%
- Helium One +32%
- Renalytix -30%
- Bowleven -29%
Libertine Holdings LON:LIB added 104% on the day. Transactions have been limited and there’s no news out but volumes are sharply elevated. It’s difficult to know what to make of this, although the losses incurred over the last month have now been more than recouped. The spread is notable too – is an announcement imminent?
Jarvis Securities LON:JIM was in second place heading into the close, up 34%. The company reinstated its dividend this morning having suspended the Q4 payment back in November and that seems to have offered investors some cause for cheer.
Helium One LON:HE1 gets the notable mention, adding a further 32% on the day. There’s no news behind the move and whilst impressive enough, the gains simply recover yesterday’s losses. Make no mistake, this remains a poster child of the market – it’s up around 10x since the start of the year – but nothing to see here.
- Helix Exploration: Is rig delay an opportunity to get into this helium success story?
- Small Cap Stocks: UK Oil & Gas, Renalytix, Nostra Terra
- Small Cap Stocks: Landore Resources, Bowleven, Chaarat Gold
Renalytix LON:RENX – another star performer of late – found itself languishing on Thursday, off 36%. The company published its half year report this morning and whilst headlines have been cheering that US insurance move, the company is still stretched for cash. With funding needs being mooted, some investors are clearly looking for the exit.
Bowleven LON:BLVN was also down heading towards the close, off some 29%. There’s no news here but this is now a minnow of a stock and the resulting outsized moves mean this is no stranger to our list. Trade has been lumpy and the move is within the spread quoted at the close.
