AIM Exchange Round-Up: AIM Down on Stronger Dollar

The Alternative Investment Market (AIM) in London is down 0.47 points from the previous session. The AIM declined to 729.91 after hitting a high of 731.79 earlier today.

Among the top risers on the AIM today are Nyota Minerals (LSE:NYO), which increased 0.26 GBP to hit 0.85 GBP, and Xtract Energy (LSE:XTR), an oil and gas company that rose to 0.14 GBP, an increase of 0.04 GBP. New World Oil and Gas (LSE:NEW) also made gains on the AIM, increasing to 0.59 GBP, a rise of 0.12 GBP.

The AIM rose May 30 by 0.5 percent, but the market was down overall for the week by 0.09 percent, Beaufort Securities reported.

One factor affecting the market is the dollar coming off a three-week low Friday after unexpected weak US data was reported. Reuters said that this event “dampened fears of an early scale-back of Federal Reserve stimulus.” The stronger dollar also lowered the prices of metals because commodities are priced in US dollars and a rise in the price of the US dollar makes commodities more expensive to foreign buyers.