AIM All-Share Stalls After Strong Run, Lagging FTSE 100 Surge
The AIM All-Share Index, often seen as a barometer for UK small-cap stocks, ended the session broadly flat, adding just 2 points to close at 772.05. The pause comes after several weeks of outperformance.
In contrast, the FTSE 100 rose 1% to a record high of 8,920.82, outpacing its smaller-cap counterpart. The blue-chip index’s gains were supported by easing concerns over trade tariffs, which traders appeared to shrug off, fueling renewed optimism across large-cap names.
Bitcoin Breaks Above $118,780, Extending Record-Breaking Rally
Bitcoin pushed through another milestone in Friday’s European trading session, rising above $118,780 and continuing its streak of new all-time highs in recent days. The world’s largest cryptocurrency has gained more than 8% this week. It has doubled over the past 12 months, climbing from around $70,000 in early November, shortly before Donald Trump won the U.S. Presidential election.
The sustained rally is being driven by institutional demand, tightening exchange supply, and growing investor conviction in Bitcoin as both a macro hedge and a long-term asset class.
Risers
Futura Medical (AIM: FUM) was one of the week’s standout performers, with shares surging 88% following the appointment of a new interim CEO. The rally reflects renewed investor confidence in the company, which under former CEO James Barder achieved a rare feat for a small-cap: successfully developing a fast-acting erectile dysfunction gel from first principles.
The product is now licensed for over-the-counter sale in the US, offering a novel alternative to traditional prescription treatments like the well-known blue pills. The leadership change appears to have reinvigorated market interest, with investors optimistic about the company’s next phase of growth and commercial rollout.
Premier African Minerals Ltd (AIM: PREM) was another of the week’s top risers, jumping 88% after restarting production at its Zulu Lithium plant in Zimbabwe. The resumption marks a significant operational milestone and reignites investor optimism around the company’s flagship project.
Shearwater Group (LON: SWG), a cybersecurity services provider, reported stronger-than-expected performance for the 15 months to June 2025. The company raised its pre-tax profit forecast from £400,000 to £600,000, while maintaining its 2025–26 guidance at £1.1 million. Shares surged 33% to 62p in response to the upgrade.
Norman Broadbent (AIM: NBB) saw its share price rise 19% to 172.5p after reporting a robust set of interim results. Net fee income for the period rose by one-third to £6 million, driven by an increase in the average fee per mandate.
The company delivered underlying EBITDA of over £750,000 and reported a notable improvement in its balance sheet, moving into a net cash position of £200,000. Encouragingly, contracted revenues for the third quarter have also increased, suggesting continued momentum in the business.
Rockfire Resources (AIM: ROCK) climbed 15.8% to 0.11p after reporting further positive developments at its Plateau project in Queensland, driven by joint venture partner Sunshine Metals. The news adds momentum to the project, which has been supported by strategic investor ACAM LP, currently holding a 16.3% stake in Rockfire.
Everplay (LON: EVPL) also impressed the market with a bullish trading statement. A strong response to a new game, along with the acquisition of the Hammerwatch franchise and two additional titles for up to £8 million, prompted analysts to raise the 2025 pre-tax profit forecast from £45.7 million to £47.5 million. Everplay is expected to hold net cash of £73.8 million, and its share price climbed 13.7% to 356.5p, a new high for 2025.
80 Mile (AIM: 80M) increased its stake in Hydrogen Valley from 24% to 49% for £80,000—a lower price than originally agreed. A Hydrogen Valley subsidiary has signed a memorandum of understanding to supply 40,000 tonnes of biofuel annually, with potential for further volume and supply agreements. The market responded positively, sending 80 Mile shares up 12.5% to 0.27p.
Sundae Bar (AIM: SBAR) saw its shares rise 7.32% to 11p following confirmation that it has begun acquiring Bitcoin as part of its treasury management strategy. The company also reported a strong performance from its TAO Strategies partnership, with subnet emissions increasing from τ9 to τ15 TAO per day, equivalent to around $5,490 in daily value. The developments reflect Sundae Bar’s growing footprint in both the AI and digital asset spaces.
Fallers
On the other side of the ledger, Petro Matad Limited (AIM: MATD) saw its shares fall 33%—though the drop came against a backdrop of constructive developments.
The Mongolian oil explorer raised $4 million, strengthening its balance sheet and unlocking funding for a series of value-accretive initiatives. The capital will be used to reduce operating costs at the Heron-1 well by transitioning from diesel to grid electricity, and to support low-cost testing at both the Heron-2 and Gazelle-1 wells, which have each shown positive signs of oil. Despite the short-term share price reaction, the funding positions Petro Matad to make meaningful progress on its exploration and development plans.
Northcoders (AIM: CODE) issued a trading update warning of limited visibility on government funding for regional training programmes, triggering a sharp 23% drop in its share price to 38.5p.
The company noted that some regions have yet to launch tenders, making it difficult to forecast how much training business it will secure. Despite maintaining a strong reputation in the sector, Northcoders admitted that revenue for the full year remains unpredictable. As a result, broker Zeus has withdrawn its forecasts.
accesso Technology (AIM: ACSO) saw its shares plunge 23.7% to 363p after warning that full-year revenues are expected to come in at the lower end of guidance. The downgrade reflects weaker-than-expected attendance levels at client venues, which impacted transaction-based revenues during what is typically the company’s most important trading period.
Despite the revenue shortfall, accesso said its cash EBITDA margin is still expected to be around 15%.
Adding to the pressure, the company disclosed that one customer will not renew a key agreement, which is expected to reduce gross profit in 2026 by $6 million. On a more positive note, new contract wins were also announced, offering some support to the long-term outlook.
Tap Global Group (AIM: TAP), which transitioned from Aquis to AIM on 27 June, continues to face selling pressure, with shares down 10.5% to 1.7p.
The stock has struggled to gain traction since its market switch, reflecting investor caution as the company adjusts to the increased visibility and regulatory demands of the AIM market.
