The FTSE 100 advanced 0.3% to close at 9,720.51, with heavyweight resource names providing much of the upward momentum. The mid-cap FTSE 250 also added just over 0.3% to 22,165.17, although the index remains down 1.42% over the past month, reflecting ongoing pressure on domestically exposed stocks.
In commodities, momentum continued to build, with silver prices spiking to $56.72 per ounce after a 10-hour halt in Comex trading, caused by a cooling system failure at a CyrusOne data centre that temporarily shut down CME operations.
Copper also pushed into fresh territory, climbing 2.5% to reach a new peak of $11,210.50 per tonne, underpinned by tightening supply conditions and robust global demand. While gold prices have climbed to a two-week high and remain on course for a fourth consecutive monthly gain, oil is moving in the opposite direction.
WeCap PLC: A Retail Look at a Company Suddenly in Focus
AIM Market Gets a Lift from Budget Measures
The AIM All-Share ended the final session of a quiet week on a positive note, rising 2%. The index benefited from supportive policy announcements by Chancellor Rachel Reeves.
A three-year exemption from stamp duty on new UK listings aims to reinvigorate the struggling IPO market, while reforms to cash ISA rules are intended to channel more domestic savings into publicly listed companies. Whether this capital ultimately filters down to AIM and Aquis markets remains uncertain.
Movers and Losers
Valereum (LON:VLRM) surged 146% to 14.75p after announcing an agreement to raise $200 million in royalty and streaming capital through a new special-purpose segregated portfolio company, Valereum QGP-SP, which is being established with the intention of listing on a US national exchange. The deal includes a one-year option granting Valereum QGP-SP the right to acquire up to 49.9% of Valereum in return for the royalty and streaming income. The company said the funding will accelerate the build-out of its crypto and blockchain platforms and support acquisition opportunities.
European Metals Holdings Ltd (lON:EMH) was close behind Boohoo on the leaderboard, soaring 60% after securing approval for a Czech government grant of up to €360 million for its Cinovec lithium project. The funding—under the Strategic Investments for a Climate-Neutral Economy programme—will support eligible capex for large-scale battery materials production. Cinovec has already received €36 million from the EU Just Transition Fund and holds Strategic Project status under the EU Critical Raw Materials Act.
Vaultz Capital (LON:V3TC), the digital asset investor holding 135 Bitcoin, recovered 53.3% to 2.875p. Two AGM resolutions concerning a share capital reorganisation and reduction in nominal value were withdrawn following shareholder feedback.
Shield Therapeutics PLC (LON:STX) rose 51%, despite releasing no new updates this week. The move comes as the company continues to see improving commercial performance for its iron-deficiency treatment.
Ajax Resources (LON:AJAX) climbed 34.9% to 7.25p. The company reported cash of £1.37 million at the end of August 2025 and confirmed progress on acquiring the Paguanta silver-lead-zinc project in Chile. Drilling at the Eureka project is expected to begin shortly, with existing cash earmarked to fund the programme and support preparation of a JORC-compliant resource estimate.
WeShop (NASDAQ: WSHP) shares closed the week at $145.21. WeCap (LON: WCAP), which holds an interest valued at around 28p per share, gained 8.33% to 2.6p. Hot Rocks Investments (LON: HRIP), which owns a stake valued at around $21.8 million, added 3.7% to 1.4p, giving the investment company a market capitalisation of approximately £3.4 million.
Losers
Ananda Developments (LON: ANA) is calling a general meeting on 12 December to gain shareholder approval to leave Aquis. This will save money and may make it easier to raise cash. Initial data from a phase 1 human study for MRX1 has shown a positive safety profile. The final study should be complete in the second quarter of 2026. The share price slumped 51.1% to 0.11p.
EQTEC PLC (LON:EQT) plunged 43% after warning of working-capital pressures and outlining a debt-restructuring proposal involving Rebel Ion, which could acquire £5.8 million of the company’s loans. The plan requires new equity funding—an outcome that remains uncertain.
Versarien PLC (LON:VRS) fell 39% after a prospective buyer withdrew from talks to acquire its remaining assets. The engineering materials group is now evaluating alternatives, including potential administration.
Premier African Minerals Ltd (LON:PREM) slid 32% and is now down 83% year-to-date. A heavily discounted £500,000 share subscription will provide short-term funding for its Zulu project, but dilution and ongoing financing concerns weighed heavily on sentiment.
Trading in Amazing AI (LON: AAI) shares was suspended following the resignation of Guild Financial Advisory as corporate adviser. The company has hired Rosenblatt Law to pursue a legal action against Tom Winnifrith and Share Prophets Ltd. Chief executive Paul Mathieson is also pursuing legal action, although his social media comments will not help him. The share price had fallen 21.4% to 0.275p by the time of suspension on Wednesday.
Wishbone Gold (LON: WSBN) is consolidating 100 shares into one new share and trading will commence on 1 December. The pre-consolidation share price was 19.4% lower at 0.725p.
