Scottish AIM companies see shares up by 25% in Q2
3 Jul 09
Shares in Scottish companies listed on the Alternative Investment Market (AIM) rose by 25.6 per cent during the second quarter of the year as the small cap market outperformed the full market, according to quarterly market analysis by PKF
The FTSE AIM All share rose by 28.95 per cent and the FTSE Small cap increased by 27.3 per cent against an increase of 8.3 per cent for the FTSE 100.
The biggest risers during the second three months of the year were telecoms company Pinnacle which increased by 242.8 per cent; finance company Sigma Capital Group which rose by 100 per cent; and oil equipment business Offshore Hydrocarbon which increased by 87.5 per cent.
Frank Paterson, corporate finance partner with PKF, said: “This is the second quarter in a row where the AIM and small cap companies have outperformed the rest of the equity market. Small cap companies had been amongst the worst affected in 2008 so there is an element of correction in these price rises, but it may still be indicative that the markets are picking up.
“This is the first quarter since 2007 when all of the equity markets have increased in value and is therefore a further indication that, for the stock market at least, there is a belief that the recession has, at least, bottomed out. Of course equity markets tend to be ahead of the game by between 12 to 18 months so it seems that investors believe that at some point in mid to late 2010 the UK economy will start to grow again.“