While the FTSE 350 and FTSE All-Share indices remain well below all-time highs, the AIM market has been on tear, recovering all the losses suffered during the lockdown-induced sell-off in March.

Across the Atlantic the US technology sector-dominated Nasdaq 100 index registered its biggest one-day gain since April on 12 October, up nearly 3% driven by a 6% pop in Apple ahead of a product launch event.

In the six months before Apple’s eight previous major generational product launches, dating all the way back to the original iPhone in 2007, its shares have risen by an average of 20%, only to move up by 4% on average in the six months after launch.

Amazon surged 5% higher as it geared up for the launch of its Prime Day sales bonanza where it slashed prices for two days exclusively for its members.

Shares in engine maker Rolls-Royce (RR.) have been on quite a rollercoaster ride over the last couple of weeks with the shares doubling in price between 2 and 9 October after US investment manager Capital Group revealed an 8.7% stake. Having gone on to hit 235.5p on 12 October, they then pulled back sharply to 185.5p the following day.

Car dealership Marshall Motors (MMH:AIM) surprised investors by saying it expects to generate an underlying pre-tax profit of £15 million for the year to 31 December. That is quite a jump from previous guidance of break-even. Strong trading continued through August while it saw a bumper performance in the all-important September plate-change month. The shares rallied 10% on the news (13 Oct).

Shares in respiratory drug development company Synairgen (SNG:AIM) jumped 50% between 7 and 12 October. While there wasn’t any company-specific news behind the move there is increasing optimism about the prospects for the company’s SNG001 drug as a treatment for hospitalised Covid-19 patients.

Bus company FirstGroup (FGP) saw its shares rise by 31% over the last week on higher than average volumes of shares traded, but no company news. Activist investor Coast Capital, which lobbied for a break-up of the company, remains the largest shareholder with a 13.8% stake.

One of the biggest casualties in the past week was pharmaceutical therapeutics company 4D Pharma (DDDD:AIM) which cratered 38% to 100p despite reporting positive phase two trial results for its irritable bowel syndrome drug. The share price had increased nearly five-fold since July when the company raised £7.7 million from shareholders at 35p.

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