The AIM All-Share had a strong week, climbing 2.2% as the positive sentiment affecting blue-chip stocks also benefited the junior market. This uplift followed the Bank of England’s notably dovish decision to hold interest rates on Thursday. Additional positive news arrived on Friday with a GDP report that exceeded expectations, effectively dispelling concerns of a UK recession.
This combination created an excellent trading environment, culminating in a remarkable week for blue-chip stocks, with the FTSE 100 breaking an all-time record.
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This week, Totally PLC (AIM: TLY) celebrated a 40% increase in its stock price after the healthcare services provider released its annual trading update on Tuesday. The company reported positive cash flow in the second half of the year, with expected full-year underlying earnings of £2.3 million.
Angle plc continued its upward trend, following a supplier agreement with AstraZeneca announced last week. Shares in the liquid biopsy developer climbed another 32% this week, building on a 20% rise from the previous Friday.
Polarean Imaging PLC (AIM: POLX, OTC: PLLWF) also saw gains among AIM’s biotech stocks after it received a new order for its Xenon MRI System from the University of Alabama at Birmingham (UAB) Hospital. “Expanding our user base is a key pillar of our growth strategy, and I am thrilled to announce our second de novo system order from such a prestigious institution,” said CEO Christopher von Jako. Shares in Polarean jumped 30%.
In the mining sector, KEFI Gold and Copper PLC (AIM: KEFI, OTC: KFFLF) was a notable performer, buoyed by positive updates and rising copper prices. The company reported on Tuesday that its Tulu Kapi gold mine development in Ethiopia is on track for final approvals this month. Additionally, promising results from in-fill drilling at its Hawiah copper-gold project in Saudi Arabia led to a 27% surge in its shares.
Asiamet Resources Ltd (AIM: ARS, OTC: KMGLF), an emerging copper producer, enjoyed a 20% uplift following the release of its annual results, helped by higher copper prices.
Light Science Technologies Holdings PLC (AIM: LST) had a successful week. The forward-thinking company listed on AIM, known for its lighting, science, and plant monitoring solutions tailored for vertical farming and greenhouses, announced record revenues of £9.3 million for the 2023 financial year. This represents a 13.8% increase compared to the previous year.
Conversely, Genedrive plc was among the week’s largest decliners on the junior market, plummeting over 50% after completing a significantly discounted and dilutive funding round.
Mothercare PLC (LSE: MTC) also faced a sharp decline, dropping by a third after it announced that refinancing negotiations had started on Friday. In its full-year trading update, Mothercare reported a 13% decrease in sales, attributing the slump to ongoing inventory clear-outs from suppressed demand during the COVID-19 pandemic, which severely impacted its core Middle East market.
Lastly, EQTEC announced a £250,000 drawdown on its new syndicated debt facility following a £950,000 draw in November. The clean-technology company utilized the funds for working capital as it awaits proceeds from a settlement with Logik Developments. Shares in EQTEC fell 25%.
