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The Alternative Investment Market rallied 2.29 percent to end the week at 700.34 points. The biggest gainers for the resource sector were SolGold PLC and Greka Drilling.
The Alternative Investment Market rallied 2.29 percent to end the week at 700.34 points. Although concern about Greece’s place in the eurozone stifled growth during the week, the market rebounded on positive economic news from Germany and France.
France reported 0.1 percent GDP growth for Q4 2014, which aligned with analyst expectations, but Germany surpassed market-watchers’ predictions, according to Investing.com. Germany’s Q4 GDP expanded 0.7 percent, exceeding predictions of 0.3 percent growth. The strong German performance buoyed the eurozone’s overall performance and the area’s combined GDP rose 0.3 percent in the fourth quarter, CNBC reported.
SolGold PLC (LSE:SOLG), a mineral discovery and development firm, posted Friday’s second-largest gains on the AIM and closed at GBP3.08 for an increase of 38.20 percent. One of the largest unconventional gas drilling operations in China, Greka Drilling Ltd. (LSE:GDL), followed close behind and gained 14.96 percent to close at GBP9.22.
On the downside, Oil and gas exploration firm Northern Petroleum PLC (LSE:NOP) was one of the AIM’s biggest losers and posted a 16.79 percent decline to end the day at GBP5.70. Premier Gold PLC (LSE:PGR), a group focused on developing Asian mineral deposits, fell 16.67 percent to close at GBP0.05.