AIM Round-up: Rose Petroleum Gains on Positive Reports for Utah Projects

The Alternative Investment Market in London was up 1.60 points today to 798.56 points, hitting a low of 797.13 points and a high of 798.66.

Mergers and acquisitions have been in full swing on the AIM this week, causing the market to see greater gains, according to Growth Business.

“The resurgence of interest in AIM from investors and emerging companies around the world underpins growing M&A activity levels and valuations for sellers using AIM as a staged exit strategy,” said Robin Stevens, head of capital markets at Crow Clark Whitehill, in a report. He believes the AIM is experiencing an increase of confidence, promoting bigger rises, the source cited.

Seeing notable gains was Rose Petroleum PLC (LSE:ROSE), a European natural gas and oil company, increasing by a massive 209.19 percent or GBP1.88 to reach GBP2.80. The price rise followed an announcement that Rose had received favourable economic analysis and reserve reports regarding its Paradox and Mancos projects in Utah.

Mining company Beacon Hill (LSE:BHR) also rose 23.94 percent or GBP0.085 to trade at  GBP0.44 today, while Mediterranean Oil and Gas PLC (LSE:MOG) gained 17.33 percent or GBP 0.97 to finish at GBP6.60. Leyshon Energy (LSE:LEN) also saw a modest rise, coming up by 0.33 percent, or GBP0.01 to GBP3.01.

Losing points on the AIM today was gold miner Scotgold Resources (LSE:SGZ), whose shares fell 7.37 percent or GBP0.04 to reach GBP0.44.