Footsie Ends the Week on a High as Global Markets Rally. The FTSE 100 closed higher, buoyed by positive global market sentiment following comments from Jerome Powell. The Federal Reserve Chair signalled the possibility of interest rate cuts, boosting investor confidence that the economy may achieve a “soft landing.”
The FTSE 100 gained 0.5%, with JD Sports leading the charge with a 5.2% increase, followed by retailer B&M, which rose 3.1%. On the downside, aerospace company Melrose Industries saw a decline of 7.1%, while accounting software producer Sage fell 2%.
The FTSE 250 also posted gains, rising 0.4%. Tech venture capital firm Molten Ventures was the top performer, up 3.7%, with property company Hammerson following closely at 3.4%. Engineering firm Renishaw had the most significant decline, down 3%, with recruiter Hayes dropping 2.2%.
Neo Energy Metals (LON:NEO) delivered one of the most transformational acquisitions of the year to date earlier this month, and First Equity’s 20p share price target off the back of Beisa certainly gives investors something to shoot for, especially given that it is 20x up on where the shares are now.
If First Equity’s predictions hold true, the shares, currently priced at just 1.40p, 80.00% rise over the past 5 days, could experience a significant increase in value.
MOH Nippon plc (LON: MOH) saw its shares soar by 89% after completing a reverse merger with Bowen Fintech PLC (LON: BWN). This merger, which took effect on Monday, enabled the Japanese real estate investment service provider to list on the main market of the London Stock Exchange.
Celadon Pharmaceuticals (LON: CEL), a developer of cannabis-based medicines, is still negotiating with an investor who was initially set to provide £1 million in four installments at 105p per share. So far, only £600,000 has been received, leaving the company short of funds. Additionally, £200,000 has been drawn from a committed credit facility, with the remaining £700,000 likely to be paid in installments or upon the sale of property. Celadon is also exploring opportunities with other potential lenders. Currently, the company holds £210,000 in cash, while its share price has recently rebounded by 38.64% to 30.50p.
Thor Explorations Ltd (LON: THX) surged 26% to reach a yearly high after announcing strong earnings for the half-year period ending in June and a near elimination of its debt. The Nigeria-focused gold miner reported interim net profits of $39.9 million, a 129% increase. Additionally, the company’s net debt has been significantly reduced to just $2.7 million.
Facilities by ADF (LON: ADF), a provider of TV and film services, has significantly boosted its earnings with the acquisition of Autotrak Portable Roadways, a company specializing in the rental of portable roadways. This deal also expands ADF’s client base into the outdoor events sector. The initial payment for the acquisition is £13.1 million in cash and shares, with up to an additional £8.2 million contingent on EBITDA performance through 2027. Cavendish has raised its 2025 earnings forecast by 12% to 9.7p per share.
To finance the acquisition, ADF raised £10 million at 50p per share and may raise up to £500,000 more through a retail offer closing on 29 August. The company’s share price has increased by 3.92% to 53p.
i3 Energy plc (LON: I3E) saw a 32% increase in its share price following the confirmation and recommendation of a firm offer from Gran Tierra Energy Inc (LON: GTE) of Canada. The offer values i3 Energy at approximately £174 million, with a price equivalent to 13.92p per share, representing a premium of about 49% compared to the closing price at the end of last week.
Rosslyn Data Technologies PLC (LON: RDT) climbed to the top of the AIM movers list this week following the announcement of a major contract win with “one of the world’s largest technology companies.” The contract’s value was about 20% higher than Rosslyn’s market capitalization at the start of the week, driving a 50% increase in the company’s share price by Friday.
Uru Metals Limited (LON: URU) surged 300% following the announcement that its Zeb Nickel (TSX-V: ZBNI) Project has been granted authorization by the South African Department of Minerals and Petroleum Resources.
FALLERS
Dillistone Group (LON: DSG), a developer of recruitment software, has secured £300,000 through a loan note issue from directors and £60,000 from a placing at 8p per share. The interim results are expected to show improved profitability and cash flow. The weak market conditions make this additional cash crucial for providing a financial cushion.
The loan notes have a 48-month term with an annual interest rate of 9.85%, and a conversion price of 14p per share. The share price edged down 2.78% to 8.75p.
Bluejay Mining (LON: JAY) is raising £1.75 million at 0.3p per share, with the funds allocated to various projects in Zambia, Greenland, and Finland. Following the announcement, the share price dropped 3.13% to 0.31p.
Guinness Asset Management has reduced its stake in Light Science Technologies (LON: LST) from 8.56% to 7.65%. The share price fell by 2.9% to 3.35p.
ZOO Digital Group Plc (LON: ZOO) ended the day 21% lower after recognizing the “extremely challenging year for the film and television entertainment industry and its broader ecosystem.”
The company’s revenue plummeted by 55% to $40.6 million for the year ending 31 March.
Ebiquity Plc (LON: EBQ) saw its share price drop 29% following the release of its first-half trading update. The media investment analysis provider anticipates a 7% decrease in revenues, projecting them to total £37.9 million.
This decline is largely attributed to ongoing budget reductions by several major clients.
