The AIM index had an uninspiring session, flitting in and out of positive territory before closing a shade lower at 944.18
- Valirx up 40%
- Integumen up 25%
- Ncondezi down 20%
- Grafenia down 17%
Valirx [LON:VAL] was the day’s biggest riser, adding 40% despite any formal news announcement. Chat suggests there’s anticipation building over the release of results regarding one of its cancer drug trials.
Integumen [LON:SKIN] was another stock in favour today, rising 25% to push past those previous highs set in August. There’s again nothing concrete out here but with the AGM set for Thursday and an RNS update expected ahead of that, hopes are clearly running high.
Ncondezi [LON:NCCL] was the day’s biggest faller, off 20% after confirming General Electric’s decision to exit the new build coal power market. This raises questions over GE’s involvement in Ncondezi’s power plant and mine operation in Mozambique. Any clarity over how this will progress will be closely watched for.
Grafenia [LON:GRA] had a bruising day, off 17% following a trading update this morning. Sales have been impacted by COVID, with August revenues down around 30% from last year. There’s also concern that the post-summer rally won’t materialise this year, with September sales likely to be little better. However trade was limited today – it was just all weighted on the sell side.