The FTSE 100 has slipped into the red on the final trading day before Christmas, with hopes of a Santa rally fading as the market closed lower. London’s blue-chip index finished down 18.5 points, or 0.2%, at 9,879, pulling back from Monday’s near-record close. Trading volumes were light ahead of the holiday break, and there was little in the way of fresh catalysts to lift sentiment.
The more domestically focused FTSE 250 also edged lower, ending the session down 0.16%, underlining ongoing caution around the UK economic outlook despite recent interest rate cuts. With markets now closed for Christmas, attention will turn to whether late-December optimism can re-emerge when trading resumes — and whether Santa might yet make a delayed appearance in the New Year.
RISERS
Pipehawk (LON: PIP) surged 48.4% to 2.3p after agreeing to sell its loss-making subsidiary Utsi Electronics to Hong Kong-based Leidi Global Supply for £1m. A £25,000 deposit has already been paid. Utsi made a pre-tax loss of £464,000 last year; stripping this out implies Pipehawk would have delivered a pre-tax profit of £154,000. Following the disposal, the group will focus on its remaining businesses: utility infrastructure detection specialist Adien and rail engineering firm Thomson Engineering Design.
Artemis Resources (LON: ARV) jumped 41.7% to 0.425p after signing a joint venture with Red Metal over the Sharon Dam copper target in Western Australia. Artemis can earn up to an 80% interest by spending at least $5m over three years.
Aptamer Group (LON: APTA) rose 36.7% to 1.025p after signing a non-exclusive licensing agreement with Alphazyme, part of Maravai LifeSciences. The deal covers a developed Optimer® for hot-start PCR applications, where the enzyme activates on heating. The original development agreement was signed in June 2024, and a further project has recently completed.
Atlantic Lithium (LON: ALL) climbed 26.6% to 10p after revising and resubmitting its mining licence application for the Ewoyaa lithium project in Ghana. The revised terms introduce a sliding royalty scale of 5% to 12%, depending on spodumene prices. Canaccord Genuity assumes a 10% royalty in its forecasts, implying prices between $2,501 and $3,000 per tonne, although current market prices are lower. The licence still requires government ratification.
FALLERS
Mobile Streams (LON: MOS) fell 62.6% to 0.23p on its return from suspension following publication of its admission document and results for the year to June 2025. The company, which is rebranding as Gana Media Group, is acquiring the remaining stakes it does not own in two Mexican sports betting and media businesses. Buying the rest of Estadio Gana will cost £31.9m in shares at 0.625p, while 584.2m shares at 0.495p will be issued for Capital Media Sports. Revenues rose from £436,000 to £1.41m, while net cash stood at £1.52m at June 2025 and £991,000 by the end of September.
Indus Gas (LON: INDI) slumped 61.2% to 3.725p after proposing to leave AIM, with a general meeting scheduled for 8 January. The company cited a limited free float and difficulties raising capital or using shares for acquisitions. Majority shareholder Gynia Holdings owns 82.7%. Interim results showed pre-tax profit rising to $1.93m from $1.24m, with the group awaiting a production sharing contract extension.
Pantheon Resources (LON: PANR) dropped 47.6% to 9.54p after suspending flow testing at its Duhle-1 well to avoid winter operating costs of around $150,000 per day. Testing will resume in spring, with further data analysis under way. The company has $27.2m in cash. Zeus cut its total risked NAV from 73p to 53p per share, while Michael Spencer’s stake fell from 8.19% to 7.59%.
Premier African Minerals (LON: PREM) slid 34.3% to 0.0225p after confirming it has been served with a writ of execution relating to movable property at its Zulu lithium project. The claim, brought by JR Goddard Contracting, seeks approximately $2.2m. Discussions with the creditor are ongoing.
