London’s AIM Index spent the bulk of the session in the black but weakness around the US open dented sentiment, leaving the All Share to sit half a point lower at 696.79 by the bell.
- Quantum Blockchain +31%
- Plexus Holdings +30%
- Global Petroleum +16%
- Borders & Southern -16%
- Corcel -12%
Quantum Blockchain LON:QBT topped the board, up 31% by the close. There’s no news here but some significant volumes have been posted, with the stock clearly finding support. This helps recover some of the losses seen over the last 10 days or so following the previous spike higher off a market update on Oct 20th.
Plexus Holdings LON:POS was in second place, adding 30%. This morning the company announced it had been awarded a £175k contract, underlining the growth of the wellhead rental market. Volumes were again subdued but this recoups last week’s macro-inspired losses.
Global Petroleum LON:GBP added 16% on the day. There’s news out but it’s a plan tabled by a 5% shareholder to remove the CEO, Chairman and a NED. The stock traded at all time lows last week, triggering the stake build by the shareholder who is making the proposal. Perhaps the view is that from here – to immortalise Yazz – the only way is up.
- AIM Market Roundup: Team Internet, Verici, Poolbeg Pharma
- Corcel focusing on high-potential O&G assets
- Small Cap Stocks: Premier African, Global Petroleum, Helix Exploration
Borders and Southern LON:BOR found itself at the foot of the board, off 16%. The stock had a good run over the last couple of weeks but today’s trade was lumpy and the fall sits within the spread. There’s no official news but opportunistic profit taking after a 30% run higher wouldn’t be surprising.
Corcel LON:CRCL had slipped 12% by 4.30pm. News out this morning showed that an investor had sold down their holding in the stock on Friday, following the latest drilling update from Angola.
