The FTSE 100 declined by 0.2%. Ocado led the gainers, increasing by 6.2%, with Marks & Spencer next, rising by 2.3%. National Grid saw the largest drop, falling by 11.5%, and RS Group declined by 2.6%.
Conversely, the FTSE 250 ended the day up by 0.7%. Ferrexpo topped the list of risers, with a 5.8% gain, followed by John Wood, which went up by 5.2%. The largest decline was seen in Essentra, which dropped by 4.9%, and AJ Bell, which decreased by 4.6%.
Roadside Real Estate shares skyrocketed 129% to 8p after the company sold a portion of its stake in Cambridge Sleep Sciences to CGV Ventures 1 for £6 million. The initial total stake cost £2.7 million, and despite selling a 10% stake, Roadside Real Estate still retains 65%, which will continue to be consolidated. Management is contemplating either selling the remaining stake or demerging the company to focus more on its core property interests.
Personalised diagnostics developer GENinCode announced that its ovarian cancer risk algorithm test has been recommended by NICE as the preferred method for ovarian cancer surveillance in at-risk individuals. The test focuses on identifying and managing familial and genetic risks, emphasizing that early diagnosis significantly improves outcomes. Following this announcement, the share price surged 64.3% to 5.75p.
Investment company APQ Global Ltd reported a book value of 23.87p per share at the end of February 2024, up from 6.02p per share at the end of 2023. This increase is based on the unaudited revaluation of private investments, particularly the US-based Delphos International. As of June 2023, the Delphos International stake was valued at $6.26 million. The share price soared 83.3% to 5.5p, having peaked at 9p at one point.
Digital media company XLMedia is selling its European and Canadian gaming assets to Gambling.com for an initial $37.5 million, with an additional potential deferred consideration of $5 million. Some of the proceeds may be distributed to shareholders. These assets generated $21.4 million in revenue and an underlying EBITDA of $6.6 million in 2023, out of the group’s estimated total revenue of $50 million and EBITDA of $12 million for the year. After accounting for deferred considerations of $4 million from past acquisitions, pro forma net cash is expected to be around $35 million. Cavendish values XLMedia at £48 million, including the cash. The share price surged 93.8% to 12.5p, valuing the company at £32.5 million.
Aptamer Group saw a 10% increase in shares after announcing a deal to develop a new diagnostic tool aimed at enhancing the early detection of cervical cancer.
Arecor Therapeutics’ shares rose by 11% following the release of promising trial data and a subsequent price target increase by a major bank. The positive trial results underscored the potential of Arecor’s therapeutic candidates, while the raised price target indicated growing confidence from financial analysts.
Roquefort Therapeutics PLC emerged as a top performer in the biotech sector, with shares climbing 20% following the announcement of a term sheet agreement to out-license its Midkine antibody portfolio to Dubai-based PDC. The agreement includes an upfront payment of $10 million.
Additionally, Roquefort will gain a non-dilutive equity stake in a special purpose vehicle (SPV) established by PDC to develop the Midkine antibodies. This exclusive worldwide license will extend for 20 years.
CT Automotive Group PLC shares surged by 20% after reporting a strong rebound in trading post-pandemic, with improved sales and operational performance as market conditions normalized.
In the mining sector, KEFI Gold and Copper PLC experienced an 11% rise, driven by soaring gold prices and the formal launch of its Tulu Kapi mine in Ethiopia. KEFI confirmed the project launch following a decision by the board of local subsidiary TKGM, which includes representatives from the Ethiopian Federal and Oromia Regional Governments.
“Our launch timing coincides fortuitously with improved conditions in Ethiopia and all-time high gold prices,” said KEFI’s executive chairman, Harry Adams.
The thriving gold prices may have also contributed to Katoro Gold’s 20% rally.
Clean technology company EQTEC PLC saw an impressive 68% surge after announcing a refinancing agreement for its existing secured lending facility with YA and Riverfort. “We are pleased to secure a new term loan with our secured lenders, which we believe is a positive development for EQT,” stated chief executive David Palumbo.
United Oil & Gas PLC jumped 36% after settling with its debt provider for a final outstanding sum of $839,200. “This leaves the company free to focus on advancing its other assets, particularly the Jamaican work program and farm-out process,” the group said in a statement.
Naked Wines PLC Chief executive Robrigo Maza stated the group is becoming “leaner and stronger” in comments accompanying the firm’s pre-close trading update. “With higher levels of cash, a moderating decline in sales, and demonstrable underlying profitability, we have a strengthening platform from which to build as we continue to drive towards profitable growth,” he said. Shares gained 24% over the week.
Powerhouse Energy Group PLC surged to the top of the small-cap movers list this week after successfully resolving a contentious patent dispute with Onunda (formerly GetGo Recycling Limited) over European patents.
The company announced that the dispute, initiated by GetGo in October 2023 before the High Court in London, has been settled. This resolution clears the path for Powerhouse to pursue additional patent applications in Europe and beyond.
Live Company Group resumed trading from suspension with a 61% drop, bringing the share price to 0.8p. This decline follows a refinancing and the sale of a majority interest in StartArt. Creditors are being settled through share issuance and a £1.77 million convertible loan provided by the chairman, who is also converting some of his loan notes. Additionally, a placing raised £352,000 at 1p per share. There may be further investment from strategic investors.
