Another day of sideways trading for the AIM Index, with a couple of brief forays above the 1,200 mark proving unsustainable, reaching the closing bell at 1197.45, less than three points offside.
- St James House up 63%
- Sareum Holdings up 16%
- Conduity Capital down 54%
- Baron oil down 22%
- 88Energy up 11%
A trading update from St James House [LON:SJH] saw the company charge to the top of the board today, adding 63% by the close. Having published accounts, the company was able to request the suspension on its shares be removed after a six month hiatus. The numbers look upbeat and there’s the prospect of new money coming into the business, but the share price remains way below its levels of last October.
Sareum Holdings LON:SAR was the day’s second biggest gainer, although the 16% upside does look rather measured when compared to other big winners. The biotech – like many in the sector – is involved in the COVID battle, so there’s speculation that news of developments could be imminent here.
Conduity Capital [LON:CCAP] was the day’s biggest faller, sliding some 54% by the bell after news that its shares were set to be suspended after the Easter weekend. The company has been operating as a shell for six months without making the necessary acquisition. With £1.2m on the balance sheet there’s going to be something left for investors in a worst case scenario, but it’s hardly going to be a bumper payout.
Baron Oil LON:BOIL also had a rough ride today, slipping 22% by 4.30pm. An update this morning of a proposed earn-in alongside a capital raise was digested by investors. Given the scale of the funding involved, this is a net positive for the business, which will result in a 255% increase in prospective resources on the Chuditch project.
A notable mention for 88Energy [LON:88E], who have been on our radar of late. Shares added what ended up being a remarkable 11% in a broadly unremarkable market. There’s no firm news here, but sentiment remains upbeat over the prospects of some solid update news in due course.
