In the broader junior market, the AIM All-Share Index ended the week with a 0.5% decrease, settling at 750.8. This was a greater decline compared to the FTSE 100, which saw a slight drop of 0.2%.
Major companies experienced notable downturns, with AstraZeneca, Persimmon, and SSE contributing significantly to the decline.
Contrastingly, in the United States, the S&P 500 reached unprecedented peaks, approaching the 5,000 mark for the first time. Leading this surge were prominent companies such as Nvidia, Microsoft, and Meta, the parent company of Facebook.
Artemis Resources Ltd, listed on ASX, AIM, and OTCQB under the ticker ARV, spearheaded gains in the mining sector following the discovery of lithium-rich spodumene mineralization at its Marie Lithium Prospect in Western Australia’s West Pilbara region. This led to a significant 77% surge in its share price.
Strategic Minerals plc also enjoyed a successful week, securing a large contract expected to boost its current year’s revenues. The company announced an agreement with a new client for an annual supply of 5,000-7,000 tons of iron ore, driving its shares up by over 28%.
In the biotechnology sector, HemoGenyx Pharmaceuticals (LSE: HEMO) was a standout performer among small-cap companies. The firm’s stock soared 28% following the US FDA’s approval to proceed with trials for its myeloid leukemia treatment, HEMO-CAR-T, after resolving previously identified issues.
Futura Medical PLC, an AIM-listed company specializing in erectile dysfunction treatments, saw its market value increase by 40% after a positive trading update. This coincided with the discovery of Viagra’s potential in reducing Alzheimer’s risk in men. Futura’s launch of Eroxon, an over-the-counter erectile dysfunction gel, in the UK and Belgium, in partnership with Cooper Consumer Health, captured more than 20% market share in these regions in its first year.
Bidstack Group PLC experienced challenges as doubts emerged over a £2.4 million loan agreement with Irdeto. The company, focusing on in-game advertising, is exploring alternative funding options and considering the sale of its assets, leading to a 60% drop in its shares.
Kinovo PLC shares fell 14% after the property services firm announced increased costs due to delays in legacy projects. Bens Creek Group PLC also saw a decline, with shares dropping by a third following the announcement of CEO Adam Wilson’s planned departure and the impact of severe weather on its West Virginia operations.
Other AIM-listed companies facing declines included Hardide PLC, down 25% due to concerns over financial sustainability, and Digital 9 Infrastructure PLC, which fell 40% after Icelandic regulators delayed a proposed spin-out for further investigation.
