Downbeat global economic sentiment is weighing on Wall Street after the long weekend break. Despite that the AIM index made a decent attempt at holding in positive territory but slumped into the close, finishing down one third of a point at 740.25.
- Tribe Technology +100%
- Mirriad Advertising +35%
- One Media IP +14%
- Leeds Group -20%
- Borders & Southern Petroleum -20%
Tribe Technology [LON:TRYB] made its market debut today and posted a 100% gain off the back of this. Dealflow was however limited and further price discovery may be seen in the near term.
Mirriad Advertising LON:MIRI added 35% on the day. The stock soared earlier in the year off the back of news that it had partnered with Microsoft NASDAQ:MSFT but gains were very short lived. Today has seen a meaningful uptick in trade with speculation that there may be more to come from this partnership
The notable mention goes to One Media IP LON:OMIP whose shares are up 14% at the bell. This morning the company announced that it has acquired rights to a significant back catalogue. The move is cash generative from day one and has been funded from existing resources.
Leeds Group LON:LDSG was the day’s laggard, off 20% at the bell. This is however a minnow of a stock and only a small number of trades were placed. As a result the move has been within the very wide spread.
Borders & Southern Petroleum LON:BOR was also close on 20% lower at the close. Again however trade was limited and the move was almost entirely eclipsed by the spread. With oil prices surging the company should arguably be better placed. Investor confidence however appears lacking.
