This week, the AIM All-Share Index experienced a slight decline, dropping by about half a percent amidst a volatile five-day period in the stock market.
The FTSE 100 index, which includes major blue-chip companies, closed with a 0.8% decrease. Leading the gainers in this index, Flutter Entertainment, the company behind PaddyPower, saw an increase of 1.15%, closely followed by BAE Systems with a 0.99% rise. On the other hand, Ocado faced the most significant drop, falling 9%, with St James’s Place trailing behind with a 4.3% decline.
Meanwhile, the FTSE 250 decreased, finishing the day 0.7% lower. Endeavour Mining was the top performer in this index, climbing 2.3%, and ICG Enterprise Trust closely followed with a 2.2% increase. Conversely, Aston Martin registered the largest decline, dropping 4.7%, and investment manager Ashmore came next, with a 2.54% decrease.
Jerome Powell, the Chair of the Federal Reserve, indicated that interest rate reductions would only be considered once there is more certainty about inflation consistently falling towards the 2% goal.
This cautious stance influenced stocks listed in London, further compounded by worrying retail sales figures from BDO. Their report showed a 2.2% decrease in like-for-like sales in the five weeks leading up to March 31, compared to the same timeframe last year. This marks the sixth consecutive month of negative growth, contributing to the overall market wariness.
In the realm of junior markets, a diverse group of small-cap video game companies exists, among which Frontier Developments PLC (AIM: FDEV) is noteworthy for its longevity. Established in the early 1990s, the company made its debut on the AIM market in 2013. Fans of theme park simulation games might recognize Frontier as the previous developer of the RollerCoaster Tycoon series. Meanwhile, small-cap investors might be more familiar with the company as a stock that surged over 30% this week.
Turning to more positive news, Tungsten West PLC (AIM: TUN, OTC: TNGWF) led gains in the mining sector with a 122% increase in share price. This jump followed their announcement of a £1.6 million funding round to restart operations at the Hemerdon tungsten and tin mine.
In the battery technology sector, shares of Anglo-Australian company Gelion PLC (AIM: GELN) nearly doubled after an update on its Next Generation Lithium-Sulfur (Li-S) battery project. The company reported a significant achievement in energy density, creating a high-capacity lithium-sulfur pouch cell, which led to a surge in its share price to a year-to-date high.
RUA Life Sciences (AIM: RUA) recovered from a challenging first half marked by operational setbacks and delayed shipments, reporting strong sales in the latter half of the financial year. This turnaround, coupled with a robust cash position and expansion of its contract manufacturing business, resulted in a 44% rise in its share value over the week.
Lastly, shares of the cleaning supplies microcap, Byotrol (AIM: BYOT), have remained stagnant following its announcement to cancel its listing on AIM.
Byotrol, like several other small-cap companies recently, plans to withdraw from the AIM market and transform into a private limited company. The company explained this decision as a response to the high costs and regulatory demands associated with maintaining its AIM listing at its current stage of development. Additionally, factors like limited liquidity and regulatory constraints on strategic flexibility were also mentioned as reasons for delisting.
