Despite some notable surprises from the constituents, the FTSE AIM All-Share Index ended the five-day period 2.25% better at 886.88p.
The FTSE 100 rose to an all-time record amid increasing signs that central bank interest rate increases have reached a tipping point.
The blue-chip index in Britain increased as much as 1pc to reach a new intraday record of 7,905.52 Friday. This surpasses its previous record set in May 2018. It closed at a record 7902, surpassing its previous peak of 2018.
After the pound fell as high as 1.3pc against the strong dollar, shares in the UK’s largest companies surged. After the release of official payroll figures, which showed that the largest economy in the world added hundreds of thousands of jobs in January, the US currency rose.
Companies such as HSBC, Shell and others dominate the FTSE 100. They are able to make most of their sales in the UK thanks to a weaker pound.
Janet Mui is RBC Brewin Dolphin’s head of market analysis. She stated: “If there were to be a global recession, then FTSE 100’s defensive nature will still be attractive.
If China has a successful reopening, it could also be a benefit for the energy and material sectors.
Morses Club PLC, (AIM: MCL) dropped 40% to 0.47p Friday. This was a confirmation that the subprime lender will stop public trading on February 10, and re-register itself as a private limited corporation.
Sopheon PLC, (AIM: SPE) saw its share price rise by more than 10% at the beginning of the week as a sign of confidence in the company’s most recent trading update.
Sopheon stated that revenues for the year ending December 31, 2022, are expected to meet market expectations at approximately US$36.5mln or £29.4mln.
Pathfinder Minerals (AIM: PFP) shares surged by an impressive 60% on Wednesday, after the natural resource company announced that Acumen Advisory, (AAG), had exercised its exclusive option and purchased Pathfinder’s subsidiary, IM Minerals.
Pathfinder will be paid £2mln by AAG upon execution of the agreement. AAG will then launch legal action against Mozambique’s government.
AAG has made a binding commitment that it will commence legal proceedings against Mozambique’s government for the expropriation and forfeiture of mining rights. According to the group, it has at least US$15mln in order to pursue its claim.
Orcadian Energy PLC, (AIM: ORCA). shares fell by 30% following a heavily discounted placement to raise £500,000 at 10p.
Shares in Petro Matad Limited (AIM, MATD) fell by 35% Friday after the company raised US$6.5mln in equity funding.
Alaska and Texas-focused junior 88 Energy Ltd (AIM: 88E) also placed A$15mln (£8.7mln.) in the bank
After its most recent trading update and the departure of chief executive Nicola Foulston, RBG Holdings PLC dropped 11% on Tuesday in the junior market
The company explained to the stock exchange via RNS why Foulston was being fired. It stated that it had lost trust in Foulston due to cultural concerns and the execution strategy.
This acquisition comes as RBG Holdings increases its presence in legal sectors in recent years with the acquisition of Memery Crystal, which is a top-ranked London firm for commercial litigation according to the Legal 500.
Foulston was the leader of the company’s flotation in 2018 when it was known as Rosenblatt Group. It then changed its name to RBG Holdings after Convex Capital, a corporate finance boutique, was acquired in 2019.
RBG’s share prices have fallen by 70% in the last few years since its July 2021 peak.
The company is currently attempting to restructure and reduce its number of subsidiaries by disposing of Lionfish, the litigation-funding firm.
