The FTSE 100 closed down 0.5% on Friday. The biggest gainer was packaging giant Smurfit Kappa, which rose by 3.5%, followed closely by United Utilities, up by 3.5%. The largest decliner was HSBC, which fell by 2.6%, followed by Premier Inn owner Whitbread, down by 2.5%.
FTSE 250 has the best week for over five months closing up 0.9% and edging towards the key 21,000 mark. It hit more than a two-year high earlier in trading and had its best week since Januar 22. The top performer was Savills, which surged by 7.5%, followed by Ocado, which increased by 7.4%. The biggest loser was the IT business Softcat, which dropped by 6.6%, followed by Trustpilot, down by 3.5%.
The share price of x-ray imaging technology developer Image Scan (LON: IGE) continues to rise following the announcement of a £3 million contract to supply ThreatScan portable x-ray systems to NP Aerospace for bomb technicians. A three-month trial process will precede the contract’s commencement in September. Surged 65.65% over the week marking its highest level since November 2023.
UK Oil & Gas PLC (AIM: UKOG) experienced a rare positive week, rising 35% amid reports that it is leading a project to create large hydrogen storage units beneath Britain’s former naval base in Portland Harbour, Dorset. According to the Sunday Telegraph, the plan involves excavating 19 caverns, each the size of St Paul’s Cathedral, to store hydrogen for emergency use during energy shortages from wind and solar sources.
Emmerson (LON: EML) reported that crop trials confirm the effectiveness of products from the Khemisset Multi-mineral Process (KMP) as a source of phosphate. The process improves potash recovery to 91% and reduces water consumption by half. A non-binding offtake agreement with Hexagon has been secured for up to 300,000 tons per annum of struvite-based products and 50,000 tons per annum of vivianite-based products. Management is currently focused on obtaining environmental approval for the Khemisset potash project. The share price recovered by 6.25% to 1.7p.
BlueJay Mining PLC (AIM: JAY, OTCQB: BLLYF) up by 75%. The company discovered helium and hydrogen within Finland’s Outokumpu Belt, along with other naturally occurring industrial gases such as argon and xenon.
Interest in BlueJay and other companies in this sector, such as HeLIX Exploration PLC (AIM: HEX) (down 4.32%) and Helium One Global Ltd (AIM: HE1, OTCQB: HLOGF) (up 36.51%), is driven by the scarcity of helium, which is crucial for medical scanning equipment and semiconductor production.
Location data management services provider 1Spatial (LON: SPA) announced that trading is in line with expectations, with new contracts secured in the US and Europe. The company boasts a strong order book and substantial sales pipeline. The share price rose by 1.41% to 72p.
Losers
Chaarat Gold Holdings Ltd (AIM: CGH) plummeted 63% due to a debt crisis, with $38.9 million in convertible loan notes maturing at the end of the month and an additional $1.2 million due by September 30. The company reported limited progress in discussions with Xiwang International Company regarding a previously announced funding package.
Active Energy Group (AIM: AEG) shares dropped 51% after the board of the green fuels group essentially signalled the end by voting to place the business into members’ voluntary liquidation.
Physiomics PLC (AIM: PYC) plummeted 46% as it highlighted the difficulties small caps face in raising funds by offering new shares at a 50% discount. The drug modelling company raised only £381,000 at 0.6p per share, while a separate retail offer through Winterflood’s WRAP platform could bring in an additional £25,000.
Baron Oil has rebranded as Sunda Energy (LON: SNDA), with the share price dipping 3.03% to 0.08p.
Pipehawk (LON: PIP) shares have plummeted 74.7% to 2.15p due to financial difficulties at its subsidiary, QM Systems, which had recently moved to larger premises but failed to secure two significant orders. QM Systems, which accounted for 65% of the group’s revenues last year and incurred a loss of £970,000, is likely to be placed into administration. Despite these challenges, the rest of the group is expected to continue as a going concern, though it reported a loss for the year ending June 2023.
For the watch list:
Consider adding Coinsilium Group Limited (AQSE: COIN, OTCQB: CINGF) to your watch list. This Aquis-listed small cap, led by experienced entrepreneurs Malcolm Palle and Eddy Travia, seems to be flying under the radar.
Coinsilium invests in and advises Web3 companies, focusing on blockchain technology, decentralization, and token-based activities. Despite a flurry of news this week, it has largely gone unnoticed by the investing public.
