It’s been a relatively uneventful day for London’s AIM index, but overall momentum has been lower, with the junior market finishing down just over four points at 1081.46.
- Tintra +28%
- Bezant Resources +26%
- Joules Group +15%
- Omega Diagnostics -18%
- Northcoders -14%
Tintra LON:TNT is back on the radar today as the biggest gainer, adding 28% by the closing bell. The stock remains off the highs seen last month and traded volumes were unremarkable, which served to push the closing spread out almost 10%. The question many will have is whether the momentum can continue this time or if profit taking will get the upper hand. Without any news updates, it may prove difficult to sustain.
Bezant Resources LON:BZT was also in favour, advancing 26% on the day. There was a favourable update yesterday morning which failed to gain much traction on AIM although appeared to be priced in somewhat faster on AQSE so there may be a degree of arb going on here. Again however without more news, can the momentum be sustained?
Joules Group LON:JOUL gets the notable mention, having added 15% today. Shares fell sharply a week ago on that trading update, but today’s interim results were slightly better received, allowing a little of those losses to be recovered.
At the other end of the board, Omega Diagnostics LON:ODX was the day’s biggest casualty, with the company’s stock continuing its downward trajectory dropping another 18%. Shares have now lost almost 90% on the year, with the price now trading below pre-COVID levels. The company was arguably well placed to assist with pandemic related diagnostics but it hasn’t delivered the outcome shareholders had hoped for. That said, they have a biotech platform and the concept of using self administered LFTs could now become a lot more popular in the years ahead.
Northcoders LON:CODE also struggled, sitting 14% lower at the bell. Shares have however been marching higher over the last two weeks off the back of a trading update so right now this looks like little more than some opportunistic profit taking, although the spread has also been pushed out, too.
