(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.
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AIM - WINNERS
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Abingdon Health PLC, up 30% at 39.50 pence, 12-month range 25.50p-136.65p. The rapid test developer launches its Covid-19 IgG antibody self-test manufactured in partnership with BioSure Ltd. The new test is CE marked, meaning it was assessed and deemed to meet EU safety, health and environmental requirements. It uses finger-prick blood and gives results of antibody status in 20 minutes. The test is in full manufacture at Abingdon Health's York and Doncaster facilities and will be useful in monitoring pre and post-vaccine immunity status, including potential booster vaccinations.
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Renold PLC, up 21% at 23.66p, 12-month range 8.10p-29.90p. The industrial chains and power transmission products supplier lifts its annual profit forecast after reporting a strong start to its new financial year. Renold says it saw continued "strong momentum" in the four months to July 31. Revenue for the period was up 14% annually to GBP62.5 million, a 20% constant currency hike. Order intake for the four-month period jumped 61% to GBP79.7 million, already ahead of the whole of the first half of financial 2021, which ended on March 31.
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Altus Strategies PLC, up 16% at 71.90p, 12-month range 50.00p-94.60p. The mining royalty company says it has partially completed that acquisition of a royalty interest in the producing Caserones copper mine in northern Chile. Altus has acquired 76% of the 0.418% net smelter return royalty interest for Caserones, with the remaining 24% expected to go through next week Wednesday. The net smelter return is expected to generate around USD3.2 million per year for Altus after tax.
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AIM - LOSERS
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Burford Capital Ltd, down 7.1% at 787.64p, 12-month range 518.29p-969.50p. The litigation finance provider says its commitments and deployments reached "record-breaking levels" in the first half of 2021, but expects a profit fall. Burford saw "robust" levels of new business during the six months to June 30. It made new commitments of over USD500 million, a company best, four times higher than a year earlier. In addition, it deployed USD399 million, more than treble year-on-year. The company posted realised gains of USD77 million during the half. However, it cautioned that 43% of matters in its portfolio have faced Covid-19-related delays. Some court dates have been delayed and the virus has also meant slower settlement activity.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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Burford Capital (BUR)
Renold (RNO)
Abingdon Healt. (ABDX)