London’s AIM Index started with a flourish but gains were short lived and the market was in negative territory in little more than an hour and a half. By 3pm, the index sat around two points lower at 743.36
- Orcadian Energy +114%
- RA International +50%
- Afentra +18%
- LoopUp -18%
- Vast Resources -14%
Orcadian Energy LON:ORCA topped the board at our 3.30pm copy time, up 114%. The company this morning advised of a planned farm-in under a non-binding Heads of Agreement with a North Sea operator. Despite this being at a very early stage, interest in the stock soared with volumes increasing notably, although the spread stood well into double digits.
- AIM Market Roundup: RA International, Eurasia Mining, Directa Plus
- Small Cap Stocks: Surface Transforms, Orcadian Energy, Tan Delta
- Small Cap Stocks: UK Oil & Gas, Jaywing, Orcadian Energy, Hermes Pacific
RA International LON:RAI was in second place, up 50%. The company announced the awarding of a significant new contract this morning with the UK Government, valued at a maximum £375m over two years.
Afentra LON:AET gets the notable mention, up 18% following its readmission to AIM. The company had been subject to a temporary suspension since the summer following its offshore acquisitions in Angola.
LoopUp LON:LOOP sat at the foot of the board, down some 18% on the day. Shares rallied hard last week off the back of interims being published. This seems to be little more than profit taking, with most of the downside eclipsed by the spread.
Thor Energy LON:VAST was the second biggest faller, off 14% at 3.30pm. The company advised of a trading halt on its Aussie listing this morning ahead of a fund raising.
