UK & European equities edged higher at the close. In London, the FTSE 100 rose 0.5% to finish at 10,224 points, while the FTSE 250 was little changed at 23,253. Across Europe, Germany’s DAX climbed 0.9% to 24,539 points, and France’s CAC 40 gained 0.7% to close at 8,127 points.
Silver suffered its biggest intraday plunge in 18 years on Friday, tumbling to levels last seen during the 2008 financial crisis. The precious metal sank as much as 26% to $83.68 an ounce, wiping out gains made over the past two weeks. The sell-off comes just a day after silver hit a fresh record high above $121 an ounce.
The sharp reversal spilled across commodity markets, with gold and copper also retreating, after US President Donald Trump announced Kevin Warsh as his nominee to chair the Federal Reserve. Markets interpreted the nomination as potentially signalling a more hawkish monetary policy stance, prompting a rapid unwind of crowded positions in precious and industrial metals.
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Bitcoin slipped as investors continued to digest Donald Trump’s nomination for Federal Reserve chair. BTC fell 2.3% on the day, extending its decline to more than 20% compared with this time last year as risk appetite weakened across markets.
Solana also moved lower, down around 2% on the session and roughly 50% lower year on year, highlighting the depth of the downturn across higher-risk digital assets.
Risers
Empyrean Energy (LON: EME) has reached an agreement with Conrad Asia Energy to resolve its dispute over the Duyung PSC and the Mako gas field in Indonesia. Under the terms, first gas is targeted for the fourth quarter of 2027. A special purpose vehicle (SPV) will be established to hold the assets, with Empyrean retaining an 8.5% interest. Empyrean’s secured convertible note will be restructured, with repayments also sourced from project dividends. The resolution was well received by the market, with the share price pushing to 0.10p +185.71%.
Great Western Mining (LON: GWMO) announced assay results from a machine-cut channel sampling programme at its Defender tungsten project in Nevada. Channels A and B returned significant tungsten mineralisation, with silver mineralisation also identified in Channel B. Shares climbed 12.2% to 1.75p.
Alien Metals (LON: UFO) said its joint venture partner GreenTech Metals is accelerating the Phase 1 drilling programme at the Munni Munni platinum-palladium-copper-nickel project, with a second drill rig to be deployed. The shares gained 10.3% to 0.215p.
Seascape Energy (LON: SEA) upgraded the Keladi prospect following an independent competent persons report, which outlined 950 billion cubic feet of net mean unrisked prospective resources on the Temaris block. Management said the Temaris and Tembakau prospects could form a transformative gas hub for Peninsular Malaysia. Shares advanced 11.5% to 77.5p.
Artemis Resources (LON: ARV) released its quarterly activities report to December 2025, confirming that drilling at the Titan East gold discovery is expected to complete in the current quarter. Follow-up diamond drilling is planned to test strike and depth extensions. The company has already announced plans to leave AIM on 13 February. Shares rebounded 8.3% to 0.325p.
Fallers
Transense Technologies (LON: TRT) warned that new contract wins have been slower than anticipated. iTrack royalty income is now expected to be around 10% lower than forecast at £2.0 million, with total group revenues projected at £5.2 million, down from £5.55 million last year. Shares slumped 35.6% to 72.5p.
EQTEC (LON: EQT) is raising £1.3 million through a placing at 0.035p per share, which will represent around 36% of the enlarged share capital. Alongside the fundraise, the company is restructuring £5.79 million of debt, with £1.93 million to be converted into equity and the remaining £3.86 million split into £1.93 million of secured, zero-coupon debt and a further £1.93 million facility. Shares slid 27.8% to 0.065p.
Aura Energy (LON: AURA) continues on AIM but has been suspended on the ASX pending a capital raising. Aura is advancing the Haggan polymetallic project in Sweden, where the government has overturned its ban on uranium mining. A 20% third-party investment values the project at A$55 million. The shares fell 16.7% to 10.5p.
Arkle Resources (LON: ARK) is acquiring an 85% stake in Namibia Uranium for £2.03 million in cash and shares. The target company holds four prospecting licences located close to three major uranium deposits in Namibia. Arkle raised £1.7 million through a placing at 0.4p per share and plans up to 4,000 metres of drilling. The shares fell 14.3% to 0.45p.
Allergy Therapeutics (LON: AGY) announced the appointment of Helge Weiner-Trapness as chief strategy officer and Lawrence Allen Wang as an independent non-executive director. The shares fell 7.6% to 11p.
SkinBioTherapeutics (LON: SBTX) said Mark and Diana Dixon have increased their combined shareholding from 17.8% to 19.3%. Despite the increased insider ownership, the shares slipped 3.5% to 20.5p.
