The AIM All-Share Index slipped by about 0.5% over the week. The bulk of these losses occurred after Tuesday’s market open, following UK unemployment data from the ONS, which, according to Deutsche Bank, revealed “signs of weakness in the labor market.”
The FTSE 100 ended the day down 0.1%, marking its fourth consecutive week of losses. The mid-cap FTSE 250 index also slipped, closing 0.2% lower. London stock markets edged lower on Friday, dragged down by losses in AstraZeneca and GSK, which weighed heavily on the blue-chip FTSE 100.
Shares of AstraZeneca dropped 3.1%, while GSK fell 3.9%, mirroring declines in U.S. and European vaccine makers after Donald Trump announced Robert F. Kennedy Jr. as his pick to head the U.S. Department of Health and Human Services.
Aquis Exchange (LON: AQX) has accepted a takeover bid from rival SIX Exchange. In a notable delisting development, challenger exchange Aquis has agreed to a buyout offer from Switzerland’s SIX Exchange, priced at 727p per share in cash, valuing the company at £225 million on a fully diluted basis.
This follows several previous proposals from SIX. The merger is expected to enhance the combined entity’s pan-European presence and support international expansion. SIX is especially interested in Aquis’s technology and sees potential to develop the Aquis Stock Exchange into a pan-European market. Following the announcement, Aquis shares surged 114% to 705p.
Alasdair Haynes, CEO of Aquis, said the acquisition would allow the company to fast-track its growth and “better compete on the European stage, while maintaining its entrepreneurial spirit.” The substantial premium offer sent Aquis shares soaring, leading the AIM movers with a 114% gain.
Ondo InsurTech PLC (LON: ONDO) shares jumped 15% after the company revealed that Nationwide Mutual, one of the largest insurers in the U.S., will deploy Ondo’s LeakBot water leak detection device across 16 states. Chairman Mark Wood expressed his excitement, noting the partnership’s significant potential and highlighting its alignment with other major U.S. contracts.
Pantheon Resources PLC (AIM: PANR) rallied over 20% after providing an update on its Alaska operations. The company has commenced drilling the Megrez-1 well in the Ahpun field on Alaska’s North Slope, with targets estimated to contain up to 609 million barrels of ANS crude and 3.3 trillion cubic feet of natural gas.
Angle (AIM: AGL) is showcasing its technology at a special conference hosted by the American Association for Cancer Research. Angle is presenting findings on PD-L1 status in circulating tumor cells, isolated using its Parsortix diagnostics technology from blood samples of lung cancer patients. The data shows high analytical sensitivity and specificity, indicating the potential for personalized treatment of lung cancer patients. Additionally, the company reported progress on developing a system to classify HER2 protein expression for breast cancer in collaboration with BioView. The share price rebounded by 15% to 11.5p.
GreenRoc Strategic Minerals (AIM: GROC) announced that Greenland authorities have confirmed its application for an exploitation licence for the Amitsoq graphite project meets all necessary requirements. The next step is a government recommendation on whether to proceed with public pre-consultation, which will take at least 35 days. Additionally, management has been invited to visit General Motors as part of a group of potential suppliers. The share price rose by 14.8% to 1.55p.
Audioboom (AIM: BOOM) saw its shares rise by over 10% this week, following an upgraded full-year guidance on Friday. The company now expects adjusted pre-tax earnings of $2.8 million (£2.2 million), up from an earlier forecast of $2.5 million in October, which had already been revised from an initial estimate of $1.3 million.
On Thursday, Kodal Minerals (AIM: KOD) confirmed that construction at the Bougouni lithium project in Mali is progressing on schedule and remains within the $65 million budget. The company expects to reach full production capacity by the first quarter of 2025. Recent drilling results indicate the potential for extending the mine’s lifespan. Discussions are ongoing with joint venture partner Hainan Mining regarding the $15 million owed to the Mali government and whether Kodal Minerals should cover this payment instead of the joint venture that owns the project. The share price rose 15.9% to 0.365p.
FALLERS
Solid State PLC (AIM: SOLI) faced a sharp 40% drop on Friday following an announcement that payments tied to a UK government defense contract have been delayed pending a strategic defense review next summer. Despite anticipating the orders will be fulfilled, they are now expected to fall outside the current financial period.
Oracle Power (AIM: ORCP) announced the completion of the latest drilling phase at its Northern Zone intrusive-hosted gold project in Western Australia, with samples now submitted for laboratory analysis. The company has raised £150,000 through a share issue at 0.013p per share, with the funds earmarked for projects in both Australia and Pakistan. Following the announcement, the share price fell by 38.5% to 0.0123p.
Mongolia-focused oil producer Petro Matad (AIM: MATD) reported mixed results, with the Heron-1 well exceeding expectations while Heron-2 underperformed. Heron-1 is currently producing 200-300 barrels per day, with potential to increase output fourfold. In contrast, Heron-2 achieved only 30 barrels per day and has been suspended. Shore Capital has revised its NAV estimate down from 7.2p per share to 6.8p per share, largely due to currency fluctuations and changes in oil prices. Following the update, Petro Matad’s share price dropped by 35.4% to 1.6p.
Tekcapital (AIM: TEK) has secured £1 million through a share issue priced at 7.5p per share. The technology development firm plans to allocate £400,000 towards Guident’s remote monitoring and control center, with an additional £200,000 set aside for a planned IPO in 2025. Following the announcement, the share price fell by 21.5% to 7.85p.
Altitude Group (AIM: ALT) released an interim trading update, reporting that performance is in line with expectations. Its University Gear Shops division secured a new contract, raising its annualized average revenue to $9.5 million. Zeus Capital has maintained its full-year pre-tax profit forecast at £1.9 million. Despite this positive outlook, the share price dropped by 16.2% to 28.5p.
