It’s been a relentless session for the AIM market with the Federal Reserve setting expectations for more rate hikes in the second half of the year then the Bank of England scoring a proverbial slam-dunk by adding a further 50 basis points. The index was almost eight points lower by 3.30pm at 774.92.
- Trackwise Design +27%
- Quadrise +12%
- Tekmar Group +12%
- Falcon Oil & Gas -34%
- Rurelec -22%
Trackwise Design LON:TWD was the day’s best performer by copy time, up 27%. There’s no formal news here and transaction flows are relatively limited. The spread of 11% also needs to be taken into account, but is news of a sale of its Stevenage Circuits unit approaching?
Quadrise [LON:QED] is in second place at 3.30pm, up 12% in the wake of an update of its Morocco fuel trials. The necessary replacement parts have now been installed and the testing regime is due to recommence at the next available opportunity.
Tekmar Group LON:TGP gets the notable mention, up 12% and extending the rally that was kicked off yesterday from some well received interim results. Orders aren’t however that fluid and the quoted spread is around the 4% mark.
Falcon Oil & Gas [LON:FOG] was the day’s worst performer by 3.30pm, off some 34% as investors digested the latest well update from Australia. Initial flow rates fell short of expectations, meaning that the site remains something of a work in progress. Further test drills are planned using the learnings of previous results and the company remains well capitalised with $16m in hand.
- Quadrise on the move with positive news
- Quadrise Fuels makes strides in biofuel development with new partnership
- Quadrise jumps 32% in morning’s trade on positive Moroccan news
Rurelec LON:RUR slipped 22% to sit second to last at the time of writing. This reflects the stock going ex-div this morning, with the 0.2p payout being fully priced into the move. The company is now however considered a cash shell, meaning an acquisition or RTO needs to take place before December for the listing to be maintained.
