The AIM Index started the week trending lower before managing to recoup some of the day’s losses after lunch although with Wall Street closed and economic data thin on the ground, the absence of direction is hardly surprising. At 4.30pm the junior market was down a little over two points at 756.43.
- Spacesandpeople +45%
- Petards Group +32%
- Evgen Pharma +14%
- Faron Pharmaceuticals -37%
- Tomco Energy -19%
Spacesandpeople LON:SAL was the biggest gainer on the day, up 45% in the wake of a trading update. A strong second half puts unaudited revenues slightly ahead of market expectations, which proved sufficient to bolster support for the stock.
Petards Group LON:PEG was up some 32% on the day. The company announced news of a contract win this morning, worth £0.35m for one of the UK’s largest police forces, but the move has added around £1m to the market cap!
Evgen Pharma LON:EVG gets the notable mention, up 14% on the day. The company issued a positive update on a Glioblastoma study giving further confidence in a proprietary therapy for the condition.
Faron Pharmaceuticals LON:FARN was at the foot of the board by the bell. Shares were down 37% after the company advised that it was in breach of several undertakings relating to a secured debt agreement. The company has sufficient cash to last until the start of April, but does not have the means to remedy the breaches without renegotiation.
Tomco Energy LON:TOM was in second to last place, off 19% at 4.30pm. The stock is jumping around quite markedly, having rallied hard on heavy volume buying on Friday, before reversing most of those gains, arguably as rumoured news didn’t transpire fast enough. The spread eclipses the move however.
