The Alternative Investment Market (AIM) in London is down 0.96 points, at 770.35 points. The market hit a low of 770.24 points and a high of 772.23 points today.
London markets moved forward after Portugal’s economy showed signs of recovery, according to Reuters. Previously, Espirito Santo Financial Group, the biggest shareholder in Banco Espirito Santo, had pulled the Portuguese Stock Index down to its lowest rating in nine months. However, the situation now seems less severe than before.
“While the bank has some exposure to the holding company, over a billion euros, it’s very clear that they have enough excess capital, over 2 billion euros,” said Veronika Pechlaner, who manages $13 billion in assets at Ashburton Investments. “So the systemic risk to the Portuguese banking system is limited, and that’s what the market is telling you this morning.”
Alba Mineral Resources (LSE:ALBA), a company that mines for uranium, gold, nickel and base metals, rose by GBP0.475, or 172.73 percent, to reach GBP0.75. GCM Resources (LSE:GCM), a UK-based holding company that mines for coal in Bangladesh, also gained GBP13.88, or 71.15 percent, to GBP33.38, while gemstone miner Richland Resources (LSE:RLD), which targets minerals such as tanzanite, increased GBP0.62, or 38.46 percent, to arrive at GBP2.25.
On the downside, Mosman Oil and Gas (LSE:MSMN) fell by GBP12.25, or 31.21 percent, down to GBP27, while Kyrgyzstan-focused gold and precious metals miner Premier Gold Resources (LSE:PGR) dropped GBP0.03, or 20 percent, to finish at GBP0.10. Fellow gold mining company Leyshon Resources (LSE:LRL), also saw losses, falling by GBP0.09, or 14.78 percent, to a price of GBP0.49.