Page last updated at 09:18 GMT, Wednesday, 7 April 2010 10:18 UK

Scottish AIM shares lag behind UK

gold mine at tyndrum
Just one new Scottish firm has gained a listing on AIM this year

Shares in Scottish companies listed on the Alternative Investment Market (AIM) rose by 5.3% during the first quarter of 2010.

Analysis by the accountancy firm PKF has shown the FTSE AIM All share index increased by 7.5% during that time.

In the first three months of this year, the AIM gained one new Scottish company when Scotgold Rescources was listed.

However, the index also lost the oil services group Sovereign Oilfields, which was placed in administration.

The PKF analysis found that the biggest faller among Scotland's AIM quoted companies was debt specialist Invocas which saw its shares drop 35.2%.

The biggest risers during the first quarter were oil and gas producer Bowleven, which increased by 37.7%, and Lansdowne oil and gas, which was up 26.9%.

Charles Barnett, corporate finance partner with PKF, commented: "Volatility is likely to remain in all of the markets as uncertainty over the outcome of the election continues and information on the rate at which we are escaping recession remains mixed.

"Funding remains tight for all businesses and speculative investments are not a high priority among lenders."

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