It’s been another disappointing session for London’s junior market. The AIM Index has materially underperformed both the main board and most other European markets to leave the All Share off a further five points by the bell at 755.51.
- Microsaic +40%
- Argos Resources +22%
- Proteome Sciences +19%
- Physiomics -50%
- Univision -40%
Microsaic LON:MSYS took a pummelling yesterday off the back of a cash call threat, but bargain hunters moved back in on Tuesday and helped recover at least some of the downside. The stock say 40% higher at the bell but there’s no change to the fundamentals here however with regard to the cashflow position. Separately management have tipped that audited results will be published this week too, so this could serve to sustain price action.
Argos Resources LON:ARG added 22% on the day to find itself in second place. However there’s not much to see here and the move is well within the quoted spread as the company plots a course towards delisting.
Proteome Sciences LON:PRM advanced 19% to take the notable mention. The closing spread of 17% needs to be considered here too, but the stock has made solid progress, doubling in value over the quarter and approaching levels not seen for two years. There’s no formal news out and orders were limited.
Physiomics LON:PYC slipped 50% on the day leaving the company at the foot of the board after it announced a funding move. The shift reflects the dilution effect of the new capital.
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Univision LON:UVEL was the second biggest faller, off 40%. Shares in the Hong Kong based CCTV manufacturer only returned from a trading suspension last week which itself saw some heavy discounting. Trade was exceptionally limited and there’s no formal news out, but with security flaws amongst Chinese industry peers being flagged in the media, will bargain hunters be tempted in at some point?
