Deltic Energy (LON: DELT) says it is in discussions with three parties – Capricorn Energy, Petrogas International E&P Coöperatief U.A. and (iii) Blue Concept Hld AS, a private Norwegian company – about potential cash offers for the company. The share price doubled to 5p.

Active Energy Group (LON: AEG) is acquiring a 2.5 MVA grid connection located at Taweela, UAE for £1.25m in cash and shares. The cash portion of £625,000 will be deferred and paid in two equal parts over 12 months. This takes total grid connection capacity to 15.5 MVA. The share price gained 30.8% to 0.1275p.

Smart video technology company SEEEN (LON: SEEN) has acquired media library and streaming software provider MEDIAL for up to £1.2m in cash and shares issued at 6p each. The acquired business made a pre-tax profit of £210,000 in the year to April 2025. SEEEN can sell its services to the acquired company’s customer base and offer training packages. The company appointed Zeus as nominated adviser and broker. The share price increased 28.6% to 4.5p.

Professional services provider Diales (LON: DIAL) says interim operating profit will be 43% higher at £1m on revenues up 10% at £23.7m. Cash was £3.9m at the end of March 2026. The interims will be published on 1 June. The share price gained 27.3% to 28p.

FALLERS

Mercantile Ports and Logistics (LON: MPL) continues to try to regain control of the Karanja Terminal & Logistics subsidiary. Mercantile says it can repay the related debt, but the proposal was rejected by the consortium of banks. They prefer an alternative plan from Adani Ports and Special Economic Zone Limited and that has been approved by the courts. The company has appealed. The share price had been rising because of optimism about the outcome of the repayment proposal, and it has slumped 77.4% to 0.475p.

Powerhouse Energy (LON: PHE) has raised £400,000 in a placing at 0.2p/share and could add a further £250,000 from a retail offer. The cash will be used to progress the development of the Ballymena waste to hydrogen project in Northern Ireland. This will include gaining permitting and the design of the project. The company will also develop alternative fuels that can come from the distributed modular generation units. The share price dropped 35.3% to 0.22p.

Clinical messaging technology developer Feedback (LON: FDBK) continues to talk with the NHS about the deployment of its technology. However, a decision has been delayed until the end of the year or early next year. This means that there will be no significant boost to revenues until next year, although the existing contract with Queen Victoria Hospital in Sussex. Feedback is not renewing its contract with the Royal Berkshire NHS Foundation Trust. There should be enough cash until the middle of 2027. The share price slipped 32.3% to 9.75p.

Litigation financing company Manolete Partners (LON: MANO) had a better second half performance and full year realised revenues dipped from £29.5m to £28m. Cash receipts rose to £26.6m. There were non-payments by some debtors, though, and they are worth £4.7m which could lead to a provision in the accounts. Net debt was £11.5m at the end of March 2026. Forecast revenues from cases is £67m. The share price fell 25.9% to 40p.

Pulsar Helium (LON: PLSR) says that rumours of a placing are false. Communications circulated by a third-party broker are false and the company is considering legal action. The share price rebounded 8.51% to 91.8p.

Celsius Resources (LON: CLA) has initiated an emergency alternative conflict resolution process to protect its interest in a dispute relating to Sodor Inc’s failure to pay $5m to acquire 60% of Makilala Mining Company and PMR not subscribing for shares in processing company for the MCB project. The application for interim orders will be concluded in early May. Celsius Resources wants Sodor and PMR arrangements relinquished to enable a stake to be sold to another partner. The share price gained 7.41% to 0.725p.

Team Internet Group (LON: TIG) is progressing talks with parties interested in acquiring its domain names business and it is worth more than the current market capitalisation. Previously it was estimated to be valued at £120m. Team Internet Group is talking to fixed income investors about changes to the financing of the group. Trading is in line with expectations. The share price increased 3.13% to 33p, which values the company at £83.7m. Net debt is estimated at $99.6m.

Oil and gas company Ascent Resources (LON: AST) has provided Utah Brine Corporation, 51% owned by Neometals, access to 24 inactive oil and gas wells in the Paradox Basin in Utah. An exploration target has been defined for potash and lithium mineralisation. The exploration target (JORC 2012) ranges from approximately 94 to 325 Mt of Muriate of Potash and approximately 1.9 to 6.5 Mt of contained Lithium Carbonate Equivalent. Work programmes are being planned. Ascent Resources is entitled to a gross smelter return of 2.5% to 3.5% of gross revenues from its acreage and it also has 4.9 million unlisted options in Neometals exercisable at 10 cents each. The share price improved 4.35% to 0.6p.

North Sea oil and gas producer Serica Energy (LON: SQZ) is considering a bond issue in the Nordic market. This would be used to repay any drawings under the existing debt facility of $525m. Net debt was $78m at the end of 2025. The share price rose 3.13% to 279.9p.

FALLERS

Atome (LON: ATOM) has raised £6.59m via a placing at 60p/share in addition to an £18m subscription by Casale, the EPC contractor for the planned Villeta green fertiliser facility, directors and existing shareholders. A retail offer raised £1m, which was double the original intention. Once shareholders approve of the share issues the final investment decision will be declared. Atome will have enough cash to take a 29.8% in the Villeta project. Atome will receive 100% of revenues until it has a 15% IRR on its $60m carried value in the project and after that 29.8%. The share price slipped 25.9% to 66p.

Agriculture technology and fire protection company Light Science Technologies (LON: LST) reported full year revenues up from £8.6m to £11.7m and it made a £100,000 pre-tax profit, compared with a loss in 2024. Agricultural technology business continues to grow from a low base. Passive Fire Protection was hit by building approval delays last year and it has a £20m pipeline for 2026. Shore forecasts a £1m pre-tax profit in 2026. The share price declined 18.5% to 1.325p.

Quicklime producer Firering Strategic Minerals (LON: FRG) is raising £2.5m at 1p/share. The cash will fund an increase in ownership of main subsidiary Limeco and help progress to exercising the final tranche of the Limeco option. Two more kilns could be brought online in the future. The share price fell 17.7% to 1.05p.

Arc Minerals (LON: ARCM) has raised £3m at 0.4p/share. This fully funds the exploration campaign in the licence area in the Zone 5 Corridor of the Kalahari Copper Belt. The share price dipped 10.5% to 0.425p.

The FTSE 100 was lower on Friday after the US President said that he was in no rush to end the war with Iran, sending oil prices higher and stocks lower.

While it’s difficult to know whether he actually means he’s in no rush or if it’s just another negotiating tactic, we do know that markets are growing tired of Trump’s posturing, and fears are mounting that the impasse in the Middle East could lead to a global recession.

This was reflected in a Brent oil price of around $105 and an FTSE 100 trading below 10,400 at 10,387 at the time of writing.

Susannah Streeter, chief investment strategist, Wealth Club, said: “Brent crude is up around 20% on the week and is trading around the hot level of $105 a barrel, as any hopes of an immediate easing of the crisis are shattered.

“President Trump has stressed he’s in no rush to end the war, and with the ceasefire extended for another three weeks, there’s set to be fresh financial pain ahead as key shipments from the region remain blocked. That is set to keep costs elevated for a vast array of commodities, from oil and gas to fertiliser and helium, which are vital for electronics manufacturing.”

If the uncertainty in the Middle East wasn’t enough to unnerve investors on Friday, a Bank of England official has weighed in, labelling global equity markets overvalued.

“An official from the Bank of England has warned of a potential global stock market correction,” says Russ Mould, investment director at AJ Bell.

“Deputy governor for financial stability Sarah Breeden told the BBC that current share prices didn’t reflect economic pressures facing the markets.”

FTSE 100 Movers

Mondi was the FTSE 100’s top faller on Friday after the paper and packaging maker warned of rising prices due to the war in Iran, adding to a string of London-listed companies signalling a negative impact from the conflict.

“There’s no papering over the cracks in packaging outfit Mondi’s latest update. The business is heavily exposed to rising energy and raw materials costs and that’s putting significant pressure on profit, Russ Mould said.

“Mondi is increasing its prices but cannot pass on costs overnight so investors won’t see evidence of this until later in the year.”

Mondi shares were down nearly 8% on Friday.

At the other end of the leaderboard, British American Tobacco was the FTSE 100’s top riser after analysts at Morgan Stanley upgraded the stock to ‘overweight’ from ‘underweight’. BATS shares rose 3%.

JD Sports has had a tough week, made worse by rising oil prices on Friday, which sent the stock down 3% to near its worst levels since the beginning of the Middle East conflict.

BP and Shell helped provide some balance to the index with gains of around 1%, but this wasn’t enough to offset weakness in mining companies such as Antofagasta and Anglo American that were among the many cyclical stocks that dragged the FTSE 100 lower on Friday.

Intel shares surged on Friday after the chipmaker announced revenue grew 7% on renewed demand for data centre CPUs.

Concerns that Intel was losing out to its peers in the AI race have been tempered by these results, which show the group’s offering is finally helping boost sales after a prolonged period of falling quarterly sales.

Sales for the first quarter rose 7.2% compared to a year ago to hit $12.67bn, with AI data centre sales doing much of the heavy lifting.

While investors will be delighted with the first-quarter performance, the strong share price reaction can largely be attributed to robust guidance for the second quarter, when Intel sees sales rising to £13.8bn – $14.8bn, well above analyst expectations.

Intel is also guiding 20 cents earnings per share in Q2, versus analysts’ estimates of 9 cents.

“There’s beating earnings expectations and then there’s smashing them – with no hint of hyperbole, it’s fair to say Intel has done the latter with its latest quarterly results,” said Russ Mould, investment director at AJ Bell.

“Chief executive Lip-Bu Tan is strident in asserting that Intel is seeing a big boost as businesses move beyond just training up machines and begin putting them to work on specific tasks. This means increasing demand for ‘Intel inside’ as customers tap its flagship central processing units.

“For years Intel has looked like yesterday’s man in the chip space, but the company’s latest earnings suggest it has caught up – helped by an unconventional investment from the Trump administration and additional funds from Nvidia last year.”

The US government invested $8.9bn in Intel at $20.47 per share and has enjoyed a 4x return, based on a premarket price of $83.30 per share.

Mondi has reported a softer start to 2026, with underlying EBITDA easing to €212 million in the first quarter from €214 million in Q4 2025, as the packaging and paper group grappled with mounting cost pressures across its operations.

Shares were down 5% in early trading on Friday as Mondi became the latest company to warn of the impact of the war in Iran.

A concern for investors will be that profits fell despite higher sales volumes in both the Corrugated Packaging and Flexible Packaging units, with volume gains offset by lower average selling prices and rising energy-related input costs towards the end of the quarter.

Margins in the converting operations came under pressure, with Corrugated Solutions and Paper Bags bearing the brunt, while Consumer Flexibles held up on resilient end-market demand.

The cost backdrop has been further complicated by heightened geopolitical tensions in the Middle East, which have driven up energy, raw materials, and logistics costs across the business.

Mondi has limited direct exposure to the region but is feeling the knock-on effects and is pushing through price increases in response, although the full benefit is not expected to land until the third quarter, given the customary lag.

Adding to the pressure on reported earnings, Mondi now expects its full-year forestry fair value gain for 2026 to be nil, following a recent drop in South African wood prices, a step down that will remove a useful tailwind from the numbers.

There are a number of reason for investors are cautious, and management appears to recognise this by taking action on costs.

The group announced the closure of three further converting plants in April, a Consumer Flexibles site in Hungary and Corrugated Solutions facilities in Poland and Germany, taking recent closures to six and reducing headcount by 450 this year.