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Highlights
- London is in second place, along with New York as the top destination to raise capital for tech start-ups as per the latest ranking.
- Start-up’s technology companies based in London are valued at £105 billion as it offers a large network of investors and access to great talent.
- ARC Minerals Ltd and Alien Metals Ltd are top FTSE-AIM listed basic materials trending stocks today.
London, one of the largest financial centres globally, has kept its position intact as the leading destination for tech innovation in the Eurozone. As per the latest ranking by advisory firm Start-up Genome, London is tied in second place along with New York as the top destination to raise capital for tech start-ups.
Start-up’s technology companies based in London are valued at £105 billion as they offer a large network of investors and access to great talent than any other Eurozone city.
London’s top ranking in the start-up sector will attract other start-ups to set up their offices in the city, creating an ecosystem and benefiting the UK economy through higher job opportunities and investment.
Let us look at 2 FTSE AIM listed Basic Materials stocks that are in the news today:
ARC Minerals Ltd (LON:ARCM)
The company engages in the exploration and development of mining projects. Its primary mining site is in Africa.
The company announced that its drilling activities carried at a mining site in Zambia had found massive sulphide copper mineralization. The copper sulphide discovery found during the drilling is the largest since the company started drilling activities four years ago and could be a game-changer for the company’s revenue and profitability.
ARC Minerals Ltd shares trade at GBX 4.10, up by 23.31% on 22 September at 2.45 pm GMT+1 with a market cap of £37.07 million.
Alien Metals Ltd (LON: UFO)
FTSE AIM-listed company focuses on the exploration and development of mining projects to extracts base and precious metals.
The company has given an update about its Hancock Iron Ore Project, located in Western Australia. The company has found iron ore resources in excess of 10Mt during the initial Mineral Resource Estimate complied by the Baker Geological Services Ltd. The company believes there is considerable scope to develop resources over the next six months.
Alien Metals Ltd shares trade at GBX 0.85, up by 9.68% on 22 September at 3.28 pm GMT+1 with a market cap of £26.58 million.
