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AIM round-up: Star Phoenix, Quiz, Comptoir Group


It’s been another day of rangebound trading for the AIM index, stuck in a channel of around 0.5% London’s junior market reached the bell up 1249.12

  • Star Phoenix +28%
  • Quiz +20%
  • Arkle Resources -21%
  • Victoria Oil & Gas -19%
  • Comptoir Group -12%

Star Phoenix LON:STA soared to the top of the board today, sitting some 28% higher by the close after announcing it had signed a non-binding agreement for a new project to explore natural hydrogen resources in Western Australia. Despite the nature of the deal – which remains at a very early stage – enthusiasm for the stock has been notable, although usual caveats of this being a small cap stock trading on a wide spread need to be applied.

Clothing group Quiz LON:QUIZ has had another good day with the shares tacking on 20% by the close. Yesterday’s trading update clearly continues to impress – even if the company still has a lot of slack to recover if it’s to return to former fortunes.

Arkle Resources LON:ARK shedd 21%  today off the back of preliminary results from a drill hole in Ireland. The grades seem to have come up a little short and although further analysis is warranted, this has now reversed the gains accrued over the last four weeks, the catalyst for which was a more positive note about drilling in the same location.

Victoria Oil & Gas LON:VOG was one of the day’s worst performers, shedding 19% by the close in the wake of results which were published ahead of the open. This covers a year which has been fraught with challenges as international borders were closed, but perhaps most telling is the auditor’s note that there’s material uncertainty over the company’s viability as a going concern, should certain milestones not be met.

A notable mention for Comptoir Group LON:COM who have struggled today, slipping as much as 16%. There’s no news here, but having had a good run around the start of May, the stock has plateaued. The wide spread also needs to be taken into account, but shares reached the bell around 12% lower.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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