London’s AIM Index has resumed its losing streak, shedding a little over three points on Wednesday and tracking indices on both sides of the Atlantic lower. By the bell, the All Share stood at 753.18.
- Univision Engineering +100%
- Glantus Holdings +78%
- Tintra +36%
- Alba Minerals -26%
- Orcadian Energy -17%
Univision Engineering LON:UVEL topped the board, doubling in price during today’s session. The share price has been rather erratic over the last couple of weeks since a trading suspension was lifted. There’s no fresh news out, although some feel the stock was unfairly marked down off the back of a contract loss. The 100% uptick needs to be seen in light of a 40% spread and only a scattering of trades however.
Glantus Holdings LON:GLAN added 78% to find itself in second place on the day. Management published a note mid-morning commenting on recent price action and confirming that it was in talks regarding a possible bid for the company. An offer period is now considered live and the suitor must table a firm bid by the 16th of August or otherwise walk away.
Tintra LON:TNT gets the notable mention, up 36% on the day after advising that an equity backed loan had been repaid in full.
Alba Minerals LON:ALBA was the biggest faller, off 26% by 4.30pm. That comes off the back of yesterday’s gains in the wake of regulatory success as the company leveraged the price uptick to launch a funding round. Shares are trading at a modest premium to the placing price, reflecting investor support for the move.
- Small Cap Stocks: UK Oil & Gas, Jaywing, Orcadian Energy, Hermes Pacific
- Small Cap Stocks: Intelligent Ultrasound, Hornby, Sondrel
Orcadian Energy LON:ORCA was in second to last place, down 17% on the day. There’s no news here but in thin trade concentrated around the latter part of the session, the stock sold off noticeably. That reverses some of the meaningful gains posted last week, but the limited flow and 50% spread also arguably question whether this move can be justified.
