AIM Round-Up: AIM Subdued as US Budget Talks Continue

Today, London’s Alternative Investment Market (AIM) rose 3.99 points to reach 796.72 points, its peak for the session so far. Earlier, the AIM hit a low of 792.26 points.

Markets around the globe were subdued today as investors remained concerned about the outcome of the US government’s budget talks. US lawmakers are debating the federal budget, but currently disagree on spending cuts and other budget issues, The Associated Press reported. The government needs to pass a budget to avoid shutting down next week.

“Tension will increase on the U.S. fiscal front as we approach the deadline of potential government shutdown and will likely act as a drag on sentiment,” Gary Yau, an analyst at Credit Agricole (EPA:ACA), told the news outlet.

Not many mining and energy companies saw major movement on the AIM today. However, gold mining company Archipelago Resources (LSE:AR) was a top riser, gaining GBP8.75, or 17.86 percent, to reach GBP57.75. Stellar Diamonds (LSE:STEL), which explores for diamonds in West Africa, also rose, increasing GBP0.15, or nearly 16 percent, to GBP1.10.

UK-based oil shale development company TomCo Energy (LSE:TOM) lost GBP0.08, more than 5 percent, sinking to GBP1.60 on the AIM today.