Softer than expected UK inflation readings this morning added fresh optimism to the idea that the Bank of England may soon look to ease its aggressive monetary policy stance, giving domestic equities a lift as a result. London’s AIM Index added almost four points by the bell to stand at 750.64.
- Renalytix +15%
- Futura Medical +12%
- 88 Energy +11%
- Vast Resources -29%
- Red Rock Resources -15%
Another day for gains for Renalytix LON:RENX which was topping the board heading into the close. There’s no fresh news here but investors continue to see upside assuming the local coverage determination for US Medicare passes without incidence. Gains over the last five days now sit well in excess of 300%.
Futura Medical LON:FUM was up 12% in late afternoon trade after the company announced this morning that its erectile dysfunction medicine would be available on NHS prescriptions from next month. That follows on from a well received trading update issued by the business earlier in the month.
88 Energy [LON:88E] added 11% to take today’s notable mention. An update at the start of last week indicated that mobilisation of a rig was due to start mid-month, followed by flow testing operations. Could an update here be imminent?
- Small Cap Stocks: Cloudcoco, Fusion Antibodies, Corcel
- Small Cap Stocks: Orosur Mining, Ethernity Networks, Coro Energy
- Small Cap Stocks: Indus Gas, VAST Resources, Beximco
Vast Resources LON:VAST was the worst performer heading into the close, down some 29%. The company advised this morning that a general meeting would be held at the end of the month. In order to meet working capital requirements the company needs a cash injection – and will also have to consolidate its shares – but it’s the looming funding round that seems to be weighing.
Red Rock Resources LON:RRR stood in second to last place, off 15%. An update from the company over an ongoing legal dispute in the DRC didn’t really provide much to go on and investors are once again turning their backs on the stock.
