The Alternative Investment Market in London was up this week, as comments from U.S. Federal Reserve Chairwoman Janet Yellen encouraged investors to buy stocks.
This week, the Alternative Investment Market (AIM) in London rose 0.65 points, hitting 785.25 points. The market hit a low of 784.02 points and a high of 785.88 points today. Metals prices rose because of the weaker value of the dollar and also due to US Federal Reserve Chairwoman Janet Yellen’s announcement that the central bank will not raise interest rates, as per MarketWatch.
Berkeley Mineral Resources (LSE:BMR) was the top gainer on the AIM today, rising GBP0.47, or 31.3 percent, to reach GBP1.97. The UK-based company mines for zinc and lead in Africa, and today announced that its subsidiary, Enviro Processing, received indications that its processing operations at Kabwe in Zambia will be approved. GCM Resources (LSE:GCM), a company that operates coal mines in Bangladesh, also rose, gaining GBP4.30, or 21.1 percent, to reach $24.67, while miner African Copper (LSE:ACU) saw its share price increase by GBP0.07, or 7.99 percent, to $0.95.
Two mining companies experienced major losses on the market, however. Bellzone Mining (LSE:BZM), which develops iron, copper and nickel projects in Guinea, fell GBP0.30, or 10.17 percent, to finish at GBP2.65, and Kibo Mining (LSE:KIBO), a mineral exploration company with projects in Tanzania, declined by GBP0.14, or 6.48 percent, to GBP1.99.