This morning’s lacklustre growth figures have done nothing to lend support to the UK economy and that has been quickly reflected in sentiment for equity markets. The AIM All Share was down more than three points just after midday to trade at 759.77.
- WH Ireland +100%
- Empyrean Energy +13%
- Fusion Antibodies +6%
- Touchstone Exploration -39%
- Petrotal -32%
WH Ireland LON:WHI topped the board at our early copy time, trading 100% higher on news that the boutique asset manager Team was discussing an all share bid for the company. Whilst the implied premium is somewhat higher, there’s no guarantee the deal will complete and equity offers are typically seen as inferior to cash.
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Empyrean Energy LON:EME was in second place, up 13%. The company continues to tack on gains following the announcement at the start of the week regarding its interests in a gas field off Indonesia.
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Fusion Antibodies LON:FAB stood 6% higher to take the notable mention. Whilst there was news released this morning, the move is within the quoted spread and volumes have been unremarkable.
Touchstone Exploration [LON:TXP] was the biggest faller on the morning, down 39%. Q3 results out this morning. These headlined with a $2m loss, reversing the close on $2m profit posted a year ago. Some production rates were noted as being below expectations and that has resulted in some guidance reductions for the full year.
Petrotal [LON:PTAL] was 32% lower, following news of Q3 results. Production is up but net operating income fell with higher costs taking a toll. The company has elected to suspend the quarterly dividend payment to preserve liquidity as it assesses priorities for 2026.
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