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AIM WINNERS & LOSERS: Spike in oil prices lifts 88 Energy

ALN

The following stocks are the leading risers and fallers on AIM on Thursday.

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AIM - WINNERS

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88 Energy Ltd, up 22% at 2.00 pence, 12-month range 0.06p-2.20p. The Alaska-focused oil explorer rises as crude prices climb, with Brent quoted at $96.40 a barrel Thursday morning after earlier hitting $101.74 and hovering around the $100 mark overnight, up from $91.93 late Wednesday.

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Pantheon Resources PLC, up 26% at 10.39p, 12-month range 6.70p-73.00p. The oil and gas company focused on developing the Ahpun and Kodiak onshore oil fields in Alaska appoints Michael Spencer as chair, effective after Thursday’s annual general meeting.

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AIM - LOSERS

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AB Dynamics PLC, up 4.7% at 1,181.50p, 12-month range 1,181.50p-1,930.00p. The Bradford On Avon, Wiltshire-based testing systems and measurement products for automotive market estimates revenue for the six months to February 28 of £49 million, down from £58.0 million a year prior, with order intake of £64 million, down from £66 million. It says trading in China was ‘significantly weaker than anticipated’, but backs its financial 2026 adjusted operating profit target of £24.4 million and notes ‘positive’ momentum carried into the first half.

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Sovereign Metals Ltd, down 2.0% at 42.62p, 12-month range 24.05p-51.00p. The company signs a non-binding memorandum of understanding with Mitsui & Co Ltd for the sale of up to 70,000 tonnes per year of natural rutile from its Kasiya project in Malawi over an initial four-year period from first production, with a potential five-year extension. Sovereign CEO Frank Eagar says: ‘Following China, Japan is the world’s second-largest producer of titanium metal and a critical hub for high-value titanium manufacturing. Mitsui’s interest in securing a reliable natural rutile supply from Kasiya - the world’s largest natural rutile deposit - is a strong endorsement of the project’s strategic value and the quality of its product.’

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