AIM Round-Up: Roxi Petroleum Gains Despite Oil Worries

On Friday, the Alternative Investment Market (AIM) lost 0.64 percent, or 4.46 points, to finish at 693.59 points.

Investing.com reported that stocks in neighboring Europe also opened lower, as the latest report from the Organization of the Petroleum Exporting Countries (OPEC) put pressure on many different industries. The report states that next year global demand for OPEC oil will be at its lowest level in 12 years. Energy companies are feeling the impact of this news, and resource companies are under pressure from further signs that China’s economy is slowing.

However, worries about oil demand did not depress the stock price of Kazakhstan-based explorer and producer Roxi Petroleum (LSE:RXP), which gained 43.75 percent to trade at GBP8.62 on Friday. Exploration company Sula Iron & Gold (LSE:SULA) also gained on Friday, rising 29.49 percent to trade at GBP2.52.

Recording losses were uranium and base metals explorer Alba Mineral Resources (LSE:ALBA), which fell 7.69 percent to trade at GBP0.30, and Oracle Coalfields (LSE:ORCP), which dropped 20.83 percent to finish at GBP0.48.