The AIM All-Share Index experienced a notably strong week, rising by 1.5% over five days to reach 756 by Friday.
However, this performance was overshadowed by the FTSE 100 index, which surged 2.7% during the week thanks to excellent earnings reports from major UK companies like AstraZeneca, LSEG, Barclays, and Reckitt, among others. Additional boosts came from impressive results by US tech giants Microsoft and Alphabet, propelling the blue-chip index to several record highs.
Goldman's analysis coincides with the FTSE 100 experiencing its best week since last summer, propelled by several striking takeover offers. Today, the #UK's leading stock market surged to 8,136.52 points, achieving a new record for the fourth day in a row during a busy week of… https://t.co/vpmNxNz29h
— Share_Talk ™ (@Share_Talk) April 26, 2024
Rocketed, soared, took off—choose any term you like, but the news that Elon Musk’s SpaceX might become a significant shareholder in Filtronic PLC (LSE: FTC) certainly ignited the AIM-listed microwave technology company.
On Wednesday, Filtronic confirmed that it will be supplying ‘E-band Solid State Power Amplifier’ modules for SpaceX’s Starlink satellite constellation, as part of a $19.7 million agreement. The previously lesser-known Filtronic saw its shares skyrocket, climbing 43% over the week to hit a record high of 47.34p.
ANGLE PLC (AIM: AGL, OTCQX: ANPCY) saw its shares climb 30% after announcing a strategic partnership with AstraZeneca, aimed at advancing cancer drug development through improvements to ANGLE’s DNA damage response assay. This collaboration will adapt ANGLE’s Parsortix-based assay for identifying micronuclei in circulating tumor cells (CTCs), an important aspect of DNA damage studies. Despite a slight dip later, ANGLE’s shares closed the week 23% higher.
Warpaint London PLC (AIM: W7L), an AIM-listed cosmetics supplier, reported record sales, margins, and profits last year, bolstered by growth in all geographic areas. Shares of Warpaint surged to a new peak of 500p, ending the week up 8.5%.
Warpaint was not alone in benefiting from collaborations with larger firms.
Base Resources Ltd led the small-cap sector with a staggering 131% increase in its share price following the announcement of a merger with US-based Energy Fuels to form a global critical minerals enterprise. Tim Carstens, Managing Director of Base Resources, noted the deal marked twelve months of discussions and emphasized the focus on developing the Toliara project in Madagascar.
Ferrexpo PLC (LSE: FXPO) enjoyed an 8.5% rise in share value as production at the Ukraine-based iron pellet maker reached new highs post-Russian invasion, and exports resumed from Ukrainian ports.
Ilika experienced a standout week, starting with a positive trading update early in the week highlighting higher-than-expected cash reserves due to cost-saving measures linked to its 10-year agreement with US firm Cirtec. By Friday, Ilika announced a collaboration with Tata’s battery business Agratas on a solid-state battery project, boosting its shares by about 7% over the week.
Made Tech, a provider of data and technology services to the public sector, saw its shares soar 43% after securing a new £19.5 million contract with the Department for Levelling Up, Housing & Communities, continuing a five-year partnership with the agency.
On the downside, Aferian PLC (AIM: AFRN) faced a tough week with a 40% decline in share price to an all-time low, following a trading update that predicted revenues and earnings at the lower end of expectations. Challenges in its Amino division prompted further restructuring and a search for refinancing options.
Destiny Pharma explored “strategic options” to progress the development of XF-73 nasal, a gel designed to prevent postoperative infections, which led to a 24% drop in its shares.
Ironveld PLC (AIM: IRON) plummeted 80% after securing a £125,000 working capital loan from shareholder Tracarta.
