The FTSE 100 dropped by 0.5% as investors responded to news of British insurer Aviva’s £3.6 billion acquisition of Direct Line. Retailer B&M led the index with a 2.7% gain, followed by JD Sports, which rose 2.2%. On the downside, Frasers Group’s owner of Sports Direct fell 3.6%, while United Utilities declined by 3.4%.
In contrast, the mid-cap FTSE 250 increased 0.3%, driven by a 7.6% surge in construction group Kier and a 5.6% rise in Direct Line. The AIM Share Index had a strong week in the broader junior market, rising 1.1% to 738 by Friday, outperforming the FTSE 100’s more modest 0.8% gain.
[embedpress]https://x.com/Share_Talk/status/1865123000057553065[/embedpress]Quiz PLC (QUIZ) faced challenges in November amid broader struggles in the retail sector. A “marked drop” in footfall impacted sales and raised concerns about the potential need for additional funding.
The omni-channel fashion brand saw its shares tumble 41% over the week to 3.12p, following a Friday update revealing a £1.5 million decline in quarterly revenue, now at £24.9 million. The retailer’s largest shareholder has previously offered a potential additional £1 million in funding, but bosses are now reviewing financing options with advisers to secure further funds. Without a significant turnaround in performance, Quiz has warned it will require extra cash during the first quarter of 2025.
Celadon Pharmaceuticals (CEL), a developer of cannabis-based medicines, has received the remaining £150,000 from its May 2024 subscription at 105p per share. The share price surged 40.8% to 17.6p.
Quadrise PLC (QED) continued its impressive momentum, building on last week’s remarkable 77% rally. Shares of the sustainable fuel innovator climbed another 20% after announcing “hugely encouraging results” from engine tests on prototypes of its ‘bioMSAR’ marine diesel alternative.
In a rare positive note for AIM, EMV Capital (EMVC) successfully executed an oversubscribed fundraiser, issuing shares at a premium to the market price. The tech and life sciences investor raised £1.5 million, which will support new opportunities and bolster its current portfolio. EMVC shares ended the week 16% higher at 51p.
Nativo Resources (NTVO) plans to acquire the Morrocota gold mine in Peru, located just 3km from the Bonanza gold mine, where it holds a 50% stake. The two mines share certain facilities and feature identical quartz vein systems. The acquisition will be funded through £125,000 worth of shares issued at 0.00288p per share. Following the announcement, the share price climbed 8% to 0.0027p.
[embedpress]https://x.com/Share_Talk/status/1865018049687867545[/embedpress]FALLERS
SysGroup PLC (SYS) shares fell nearly 25% after the IT services provider posted half-year results showing a 7.3% revenue decline to £10.2 million, driven by strategic changes in its service offerings.
Litigation Capital Management Ltd (LIT) slipped about 7% following an adverse ruling in the Federal Court of Australia. The judgment went against LCM’s funded party, a class action of Queensland electricity users accusing Stanwell Corporation and CS Energy of inflating electricity prices illegally.
Scancell Holdings (SCLP) saw a 16% drop following its announcement of plans to raise up to £9.5 million to support clinical programs. The funding includes a placing of new shares at 10.5p each to raise at least £8.5 million and a retail stock offering.
United Oil & Gas PLC (UOG) plummeted 41% as it issued a warning over its cash position, citing delayed payments from Egypt. The company announced plans to cut costs to the “bare minimum.”
SDX Energy PLC (SDX) suffered a dramatic 60% drop on Friday after revealing plans to delist from AIM. The company stated that the costs, management time, and regulatory burdens of maintaining its AIM listing were no longer justified by the benefits. If approved by shareholders, the listing will be terminated on 9 January 2025.
Goldstone Resources (GRL) is negotiating with Blue Gold International for an extension on the repayment of £2.7 million owed through convertible loan notes, originally due at the end of November. The company has five business days to secure the extension; otherwise, it will be required to repay the loan notes. Following the announcement, the share price dropped 39.7% to 0.95p.
Rockfire Resources (ROCK) is securing £660,000 through a share placing at 0.12p per share, with an additional £120,000 potentially raised via a retail offer. The funds will support the development of the Molaoi zinc-silver-lead-germanium project in Greece. Following the announcement, the share price dropped 22.9% to 0.135p.
