Resources Argos, Simec Atlantis, Boohoo

Taking a lunchtime decline today, the AIM index opened with some modest gains but support has been hard to hold as the market slips back into the red and sits just over two points lower at 1pm to trade at 984.53.

  • Argos Resources +27%
  • Simec Altantis +22%
  • Boohoo +16%
  • Uru Metals -20%
  • Mining Eurasia -12%

Argos Resources [LON:ARG] continued its upward move on the week, adding another 27% in morning trading. There is no news here and the spread is currently quoted at 33%, but again, as the world looks beyond Russia for its energy needs, a stock like this – currently valued at less than £10m – could have potential.

Simec Atlantis [LON:SAE] had added 22% at 1 p.m. Unsurprisingly, the renewable energy sector is perhaps the center of attention at the moment and Simec seems to be taking advantage of it. The company, however, has a modest market capitalization of £11m, but trading has been brisk and the spread is a relatively modest 6.5%.

A notable mention for Boohoo [LON:BOO] with shareholders taking the glass half full for today’s results, taking 16% during the morning. Equities have come under sustained pressure over the past year, however, so there is no doubt some degree of bargain hunting here as well.

Uru Metals [LON:URU] was the biggest fall of the morning, slipping 20%. Again, this is a minnow of a stock, has seen thin trade so far and is on a very wide spread. Nothing to see here, at first sight…

Mining in Eurasia [LON:EUA] also had a sluggish start to the day, down 12% at 1 p.m. Again, there’s a significant discrepancy here, but for a business now valued at £200m (it was closer to £1bn at the start of the year) it’s a bit more troubling. . The news that Evraz has had its shares suspended in London might help the reading here.