London’s AIM Index managed to step up a gear today and post its first daily gains for the week, to close more than five points ahead at 1211.85.
- Tintra +42%
- Proton Motor Power +30%
- Reabold Resources -15%
- Trafalgar Properties -10%
- Shoe Zone +20%
Tintra PLC [LON:TNT] was the day’s best performer, adding 37% by the bell off the back of an update this morning after the company provided more details on an AI Joint Venture. They are positioning themselves as banking and infrastructure specialists for the underserved frontier and emerging markets – this is clearly capturing the imagination of investors, although only just puts the share price back where it was after the last burst of enthusiasm in August.
Proton Motor Power Systems [LON:PPS] added 30% today. The stock has been in hot demand since the middle of last week and today was no exception. Yesterday the company launched a new product designed to make railways more environmentally friendly but this hasn’t triggered any formal statement. An update is probably looking overdue.
A notable mention for Shoe Zone [LON:SHOE], whose shares added 20% today. The stock jumped off the back of a full year trading update which whilst seeing margins squeezed a little, otherwise seems to have impressed. And that’s despite the air of caution as to what comes next, although as has been noted previously, this is one retailer where it’s difficult to shift to a pure online model.
Reabold Resources [LON:RBD] was the day’s worst performer, although losses were a very modest 15%. The company provided a broadly upbeat drilling update this morning, but the inclusion of some caveats evidently hasn’t been sufficient to galvanise the support of shareholders who wanted more.
Trafalgar Properties [LON:TRAF] slipped 10%, securing it second to last place in the junior market today. There is however nothing behind the move, which is indeed inside the closing spread. Traded volumes were also incredibly thin.