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The following are the leading risers and fallers among London Main Market small-cap and AIM stocks on Thursday. ---------- Main Market small-cap winners ---------- Technology Minerals PLC, down 24% at 0.06p, plans fundraise of up to £2.5 million Alternative Liquidity Fund Ltd, down 10% at 2.15p BSF Enterprise PLC, down 10% at 2.25p First Class Metals PLC, down 9.5% at 3.80p Hydrogen Utopia International PLC, down 9.1% at 2.50p, sets up subsidiary Fortress Fuel to focus on defence energy market ---------- Main Market small-cap losers ---------- Altona Rare Earths PLC, up 30% at 2.85p, confirms heavy rare earths enrichment associated to fluorspar Nanoco Group PLC, up 10% at 2.76p Georgina Energy PLC, up 8.5% at 6.40p, pays full outstanding balance of $287,171 on a loan Cloudbreak Discovery PLC, up 8.3% at 0.65p Panther Metals PLC, up 7.1% at 157.50p ---------- AIM winners ---------- Distil PLC, up 60% at 0.07p, announces the early conversion of its £3 million convertible loan note Marechale Capital PLC, up 36% at 4.95p Metir PLC, up 19% at 0.80p, hails ‘major’ commercial advances for PFAS platform Oxford BioDynamics PLC, up 18% at 0.19p Geo Exploration Ltd, up 17% at 0.14p, completes field reconnaissance at Gorge project ---------- AIM losers ---------- Portmeirion Group PLC, down 40% at 55.50p, aims to raise up to £19 million in new equity, compared with current market cap of just £7.7 million from placing and retail share offer at 50p FIH Group PLC, down 20% at 220.00p Tertiary Minerals PLC, down 15% at 0.06p, launches retail share offer Gateley Holdings PLC, down 13% at 57.50p, trims adjusted operating margin view GENinCode PLC, down 12% at 1.10p ---------- Small-cap and AIM movers in focus: ---------- Hydrogen Utopia International PLC, down 9.1% at 2.50 pence, 12-month range 0.87p-4.30p. Launches a new subsidiary, Fortress Fuel, to target the defence energy market. The company says Fortress Fuel is developing systems capable of producing around 28,000 tonnes of JP-8 military fuel annually while providing on-site energy solutions for military bases. Hydrogen Utopia adds it has held discussions with NATO representatives and is in early-stage talks with defence organisations, while stressing its existing projects in Saudi Arabia and Oman remain unaffected. ---------- Altona Rare Earths PLC, up 30% at 2.85 pence, 12-month range 1.10p-4.78p. Reports drilling results confirming widespread heavy rare earth enrichment at its Monte Muambe project in Mozambique, including intercepts of up to 30 metres at 2,677 parts per million heavy rare earth oxides. The company also identifies xenotime, a heavy rare earth mineral, at the project for the first time, which it says could allow the production of a marketable heavy rare earth concentrate as a by-product of fluorspar processing. Altona is now assessing whether the results warrant a dedicated heavy rare earth mineral resource estimate. ---------- Metir PLC, up 19% at 0.80 pence, 12-month range 0.50p-1.49p. Gains after announcing the first commercial sale of its PFAS detector unit in the US, with the initial order placed by Nasdaq-listed Veralto. The environmental technology company says the sale marks a major commercial milestone for its PFAS detection platform and adds that further testing applications are being evaluated in the semiconductor sector. Metir says growing awareness of the health risks associated with PFAS chemicals leaves it well positioned to address an expanding market opportunity. ---------- Gateley Holdings PLC, down 13% at 57.50 pence, 12-month range 55.00p-139.00p. Shares fall despite reporting expected annual revenue of around £193 million, up 7% and ahead of consensus forecasts, as investors focus on margin pressure and a sharp increase in net debt. The professional services group says adjusted operating margin narrows to around 11.1% from 11.7%, reflecting a changing business mix and higher-than-expected delays to transactional work. Gateley also reports net debt of £25.3 million at year-end, up from £6.6 million, following the acquisition of Groom Wilkes & Wright and higher working capital requirements. The company says recent Middle East tensions and a worsening interest rate outlook have weighed on client sentiment and delayed some corporate and property transactions. ---------- S4 Capital PLC, down 8.8% at 39.49 pence, 12-month range 15.70p-47.78p. The advertising group warns market conditions have become more challenging amid continued client caution over geopolitical and macroeconomic uncertainty. S4 says trading in the first five months of 2026 has been in line with expectations and continues to target an improvement of at least 100 basis points in operational Ebitda margin this year. The company also reiterates its year-end net debt target of £60 million to £90 million, with average net debt falling to £106 million from £144 million a year earlier. ---------- Copyright 2026 Alliance News Ltd. All Rights Reserved.
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