London’s AIM Index has traded broadly sideways throughout the day’s session, closing up just under three points at 1070.26.
- Tiger Royalties +55%
- Summerway Capital +36%
- Maestrano Group down 19%
- Catenae Innovation down 16%
- Spacesandpeople up 10%
Resources play Tiger Royalties [LON:TIR] found itself at the top of the pile today, adding well over 100% at one stage before slipping back to settle a more modest 55% higher. News of a non-executive director appointment seems to have triggered the enthusiasm for the stock and it’s also worth noting the wide spread this settled on. Volumes were certainly exaggerated, however. One to watch.
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Summerway Capital [LON:SWC] also found support in the latter part of the day, with shares jumping 36% higher off the back of senior appointment news alongside a change in the investing policy of the vehicle. The proposed appointees have significant experience in the SaaS sector where the business intends to focus its efforts and the package comes complete with the new chairman making a significant investment into the business. This certainly seems like a perfect combination.
Having hit an all-time high last week, shares in Maestrano Group [LON:MNO] have been trending lower since, finishing Tuesday off 19%. The Fintech provider works for many large banks and there’s no news out to support the shift in sentiment, but for those who bought in last year, the prospect of returns exceeding 10x are arguably tempting.
Catenae Innovation [LON:CTEA] was another big casualty, off 16% in the wake of a business update. It would seem that the market was expecting more news from this morning’s update, rather than ‘just’ a real-world commercial test case for its COVID diagnostics services. This stock has seen some false starts over the year, starting around the 1p mark and jumping almost up to the 10p mark. Shares currently trade around 2.4p.
A notable mention for Spacesandpeople [LON:SAL], who we covered earlier in the month. This morning the company announced it had struck a deal with a further two former Intu shopping malls to resell exhibition space. Shares jumped almost 20% higher at one point and although there was some erosion, shares still settled almost 10% up on the day.