The AIM Index started the day in the black but some very modest losses took hold during the afternoon, reaching the closing bell just over four points lower at 1258.39. Variance in individual share price performance was also notable by its absence.
- Tern Plc +26%
- Uru Metals +22%
- Proteome Science -11%
- Igas Energy -10%
- Nightcap Plc +16%
Tern Plc [LON:TERN] was the day’s biggest riser, adding 26% by 4.30pm. There’s some news out here, specifically the posting of an investor webinar from last week onto the company’s website, although by definition that news was already in the public domain. Today’s rally off the back of some brisk trade does however translate into one week gains of around 60%.
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Uru Metals [LON:URU], the Lithium miner with a £6m market cap, also fared well today, adding a further 22% and pushing the stock out to close on three year highs. There’s no news here and the small size plus a 13% spread perhaps call for a degree of caution, but that said volumes were significantly higher than what is typically seen by the stock. One to keep an eye on.
Proteome Sciences [LON:PRM] reached the bell some 11% lower although activity in the closing auction does seem to have reversed much of the losses. That said, the stock was on or radar last week as it gained 50% from Wednesday to Friday, with diagnostics being very much in vogue. Today’s losses can probably be seen as some opportunistic profit taking but investors will be watching closely to see if this might mark the end of any re-rating cycle.
Igas Energy [LON:IGAS] was another big faller, off more than 10% at the bell, with the losses appearing to be sustained into the auction. It’s a strange move, given the broader upside seen for energy stocks today off the back of that US supply disruption, but this is a very thinly traded share and the move sits within the closing spread.
A notable mention for Nightcap Plc [LON:NGHT], which we have covered previously although not for some time. The bar operator saw its shares jump 16% today, although that is simply recovering some of those losses accrued last week in the wake of the badly received acquisition and placing news. However, given wider media reports of the booming leisure industry as the UK emerges from lockdown, this could well be a hot sector as we move into the summer.