London’s AIM Index has made a stuttering start to the week and although the bulk of losses have been recovered, the index still finished the day fractionally underwater. However given the prevailing narrative around the fact US rate cuts may still be some way off, the performance does have its merits.
- Futura Medical Science +26%
- Oriole Resources +22%
- MusicMagpie +21%
- Ascent Resources -20%
- Huddled Group -15%
Things are looking up for Futura Medical LON:FUM, the developer of erectile dysfunction therapies, with the shares shooting 26% higher on Monday. There’s no news out but this is a significant reversal of fortunes and takes the stock back to levels not seen since early October.
Oriole Resources LON:ORR fared well, up 22% on the day as investors continued to support the earn-in agreement on its Bibemi gold project. A note issued today confirmed that a US$450,000 payment had been received, taking gains since Friday morning to more than 40%.
MusicMagpie LON:MMAG gets the notable mention, up 21%. There’s no news here but the company has been exploring sale options. Is something on the horizon?
- UK Stock Market News: IG, Spire, Futura Medical
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Ascent Resources LON:AST was at the foot of the board, off 20% on the day. The company advised this morning that a JV partner in Slovenia had filed for insolvency, something that Ascent is now attempting to dispute.
Huddled Group [LON:HUD] was in second to last place, off 15% following a trading update. Whilst there were some positive themes in the note, the release appears to have precipitated a degree of profit taking as well as leaving some investors to question the quality of the performance with a significant weighting being seen in Q4.
