The FTSE 100 finished virtually unchanged on Friday as stronger-than-expected US employment data pushed investors to reassess the likelihood of another Federal Reserve interest-rate increase in September.
London’s blue-chip index slipped just 0.43 points to 10,831.09, while the FTSE 250 gained 0.4% to 24,584.71 and the AIM All-Share edged 0.10 points higher to 799.91. For the week, the FTSE 100 gained 0.4%, while the FTSE 250 fell 1.3%.
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The AIM All-Share fell 1.4%, as investors briefly shifted into risk-off mode amid higher energy prices, elevated bond yields and renewed geopolitical concerns.
Chariot Resources Ltd (LON: CHAR) was the standout performer this week, with shares rising 73% after the African energy company struck a deal that effectively doubles its economic exposure in Angola.
The framework agreement, signed with local operator Etu Energias and Gabon-focused BW Energy, supports Etu’s acquisition of additional interests in the Chevron-operated Block 14 and neighbouring Block 14K offshore Angola.
Huddled Group PLC (AIM: HUD) rose 38%, extending its gain over the past month to around 68%, as investors continued buying following the company’s TikTok tie-up first announced on 24 August.
The agreement saw Huddled enter a joint venture with Cipher, a UK TikTok agency, to launch Peeko Live Commerce channels across TikTok Live and TikTok Auctions.
Sunda Energy PLC (AIM: SNDA) gained 28% after partner Tetragon Energy substantially increased the estimated Prospective Resources at the Halcon gas prospect in the Philippines.
Halcon is now estimated to contain 8.0 trillion cubic feet of gross Prospective Resources, with approximately 3.0 trillion cubic feet net to Sunda’s 37.5% interest.
Pri0r1ty Intelligence Group (AIM: PR1) shares gained 9.09% to 1.2p after the company agreed to acquire the operating assets and technology of Pirkx, a platform providing wellbeing, healthcare services and employee benefits to small and medium-sized businesses.
Around £5.4 million has previously been invested in developing the Pirkx platform, which Pri0r1ty believes will significantly increase its user base and create opportunities to cross-sell services across the enlarged group
Fiinu (AIM: BANK) rebounded 6.67% to 4p following amendments to its agreement with Conister Bank, a subsidiary of Manx Financial (AIM: MFX), covering implementation of Fiinu’s Plugin overdraft product.
A proof-of-concept launch is expected towards the end of the year, representing an important step towards demonstrating the product in a live banking environment.
Botswana Minerals (AIM: BMIN) gained 4.76% to 0.22p as the company prepared to begin field sampling across its northern licences in Botswana.
The work follows progress elsewhere in the portfolio, where artificial-intelligence analysis of the company’s southern licences has identified another nine prospective copper target areas.
Fallers
Sutton Harbour Holdings (AIM: SUH) shares fell 47% after the AIM-listed marine operator published a circular detailing plans to cancel its stock market listing and re-register as a private company.
The proposals were first announced on 28 August and will now be put to shareholders at a general meeting on 22 September.
Futura Medical (AIM: FUM) shares fell 35% after the sexual-health company raised £1.6 million at 0.2p per share, a heavily discounted placing that came close to the company’s entire market capitalisation.
At the same time, Futura launched a formal process to explore a potential sale of the whole business or individual assets.
Premier African Minerals (AIM: PREM) plunged 27.5% to 0.00925p after sending shareholders a circular seeking approval for management to issue additional shares and disapply pre-emption rights. Premier’s financial forecasts indicate that the company could require approximately US$19.1 million in funding through to the end of 2027.
Premier is also proposing a further 10-for-one share consolidation, aimed at reducing the more than 50 billion shares currently in issue.
Borders & Southern Petroleum (AIM: BOR) fell 15% on Friday opening of trading but managed to recover early loses, closing around +0.29% after Argentina’s President Javier Milei threatened to accelerate sanctions against oil explorers operating around the Falkland Islands.
Rockhopper Exploration (AIM: RKH) slipped 6.99% to 72.55p following comments from Argentina’s president concerning the Sea Lion oil project in the North Falkland Basin. The political intervention revived concerns surrounding Argentina’s longstanding opposition to hydrocarbon development around the Falkland Islands.
Sea Lion is Rockhopper’s key asset, making developments that potentially affect the project’s political or regulatory risk particularly significant for the company’s valuation. The share-price decline therefore reflected renewed geopolitical concerns rather than a change to the underlying Sea Lion development itself.
Victoria (LON: VCP) declined 3.98% to 55.45p after providing an update on its restructuring and trading position. Management believes the restructuring programme will improve efficiency across the business and is also assessing potential opportunities arising from the administration of UK floorcoverings distributor Headlam.
Victoria said it has no exposure to bad debts arising from Headlam’s administration, potentially leaving it able to pursue commercial opportunities created by the disruption without suffering a corresponding receivables hit.
