The FTSE 100 Closed Lower, Dropping 32.26 Points to 8,732.46, as investors on both sides of the Atlantic took profits on their shares today ahead of a U.S. public holiday on Monday. In London, NatWest shares declined 2% on Friday as investors locked in profits following a 12% gain over the past month.
The AIM All-Share index closed the week up 1% at 725.44 points, outperforming the blue-chip index.
Serinus Energy PLC (AIM: SENX) surged 20% over the week after securing a legal victory in Romania. The country’s Superior Court of Cassation and Justice ruled in its favour in a VAT dispute with the Romanian tax authority (ANAF) related to $1.73 million in unpaid VAT refunds from 2018 and 2019. The ruling also awarded Serinus approximately $750,000 in interest compensation, with payment mandated within 45 days.
MTI Wireless Edge Limited (AIM: MWE) climbed 11% after securing a $4 million repeat order for its military antenna technology from an Israeli system house, reinforcing its global defense market position.
Surgical Innovations Group (AIM: SUN) gained 8%, buoyed by a strong second-half performance following a restructuring and cost-cutting program. The medical device maker reported lower debt levels and expects to meet full-year revenue forecasts.
Gelion PLC (AIM: GELN) advanced 8% after announcing a breakthrough in its Gen 3 sulfur cathode technology, a key step in the development of next-generation solid-state batteries. The innovation generated excitement in the electric vehicle and energy storage sectors.
Among other notable risers:
- Kodal Minerals PLC (AIM: KOD) celebrated its first lithium spodumene concentrate production at the Bougouni mine in Mali, with plans to ramp up to 10,000 tonnes per month and an initial shipment to China expected soon.
- Gem Resources PLC (LSE: GEMR) resumed mining at the Cobra open pit in South Africa, reporting high-grade emerald production of up to 60 carats per tonne. The company remains on track for its first sale in the first half of 2025.
- Light Science Technologies Holdings PLC (AIM: LST) signed a distribution deal with Agrolux to supply LED lighting systems in the UK and Ireland, contributing to its £10 million project pipeline across Europe.
- CleanTech Lithium PLC (AIM: CTL, OTCQX: CTLHF) raised £2.4 million to fund its Laguna Verde lithium project and a pilot plant in Chile. The funds will also support an upcoming Australian Securities Exchange listing.
Weekly Fallers
On the downside, Thruvision fell 12% after delaying £15 million worth of expected contracts to the next financial year, forcing the security firm to cut its revenue guidance to £5 million.
Gusbourne PLC (AIM: SHLP) dropped 8%, as its majority shareholder, Lord Ashcroft, pushed for a delisting. The English winemaker also abandoned takeover talks, leaving investors uncertain about its future.
Haydale Graphene Industries PLC (LSE: HAYD, OTC: HDGHF) declined after placing its US business into Chapter 11 bankruptcy, following disappointing growth expectations and a court-supervised asset sale.
Proton Motor Power Systems (LON: PPS) is set to delist from AIM on 17 February, leading to a 14.3% decline in its share price to 0.15p.
Fiinu (LON: BANK) successfully raised £1.25 million at 10p per share, citing strong market demand for the issuance. The funds will support further development of its Plugin Overdraft as a white-label product. However, the stock dropped 14% to 10.75p after the fundraising announcement.
ImmuPharma PLC (AIM: IMM) slid 14%, though for a seemingly positive reason. The drop followed a £2.9 million share placing, which diluted existing shares but provided a crucial cash injection. The fundraising was oversubscribed, with proceeds supporting further development of its P140 autoimmune technology and ongoing licensing negotiations with major pharmaceutical firms.
Finally, Ondo InsurTech PLC (LSE: ONDO) reported a 60% surge in customer numbers, fueled by rapid US expansion, which has become its largest market. The company, which owns LeakBot technology, expects revenue to climb 70% this year to £4.5-5 million, with profitability projected in the second half of the next financial year. Its shares ended the week 2% higher.
