AIM Round-Up: Scottish Referendum Gives European Markets a Boost

The Alternative Investment Market was up by 3.84 points or 0.51 percent to 762.06 points on Friday. British markets gained on Scotland’s decision to remain part of the United Kingdom, which stood to disrupt markets if it had gone the other way, according to Reuters. Partially as a result of Scotland’s decision, the pound reached a two-week high against the dollar and a two-year high against the euro.

“For the markets in general, the Scottish result is probably the best outcome because the ‘Yes’ vote winning was really not priced in and that could have caused chaos, with contagion to Europe,” Ion-Marc Valahu, fund manager at Clairinvest told Reuters.

Stocks on the rise this week included Atlantic Coal (LSE:ATC), who saw a share price increase of 17.65 percent or GBP0.04 to trade at GBP0.20. The company produces and processes low-emission coal, primarily from an operation in Pennsylvania. Meanwhile, Rare Earth Minerals (LSE:REM) was up 14.92 percent or GBP0.23 to trade at GBP1.54. The company invests in and develops minerals, with interest in a lithium project, several exploration licenses and interest in an Australian rare earth project.

On the other hand, oil and gas company, Independent Resources (LSE:IRG) lost 11.54 percent or GBP0.21 to trade at GBP1.85. The company recently brought in a new management team to help it transition to an exploration and development player.