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WINNERS & LOSERS: Petro Matad sinks on PetroChina blow; Midwich up

22nd Sep 2026 10:46

(Alliance News) - The following are the leading risers and fallers among London Main Market small-cap and AIM stocks on Tuesday.

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Main Market small-cap winners

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Abrdn Property Income Trust Ltd, up 26% at 2.15p

RC365 Holding PLC, up 24% at 4.75p

Nanoco Group PLC, up 12% at 2.75p

Meridian Mining PLC, up 12% at 109.75p, announces Cabacal study result

Technology Minerals PLC, up 9.5% at 0.06p

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Main Market small-cap losers

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African Pioneer PLC, down 10% at 3.10p

Nuformix PLC, down 9.7% at 0.14p

London BTC Co Ltd, down 8.7% at 2.10p, surged 35% on Monday after promising exploration finds at Teep gold and silver asset

Elixirr International PLC, down 6.1% at 468.50p, extends decline after 20% slump on Monday

KR1 PLC, down 6.3% at 22.50p

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AIM winners

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Itim Group PLC, up 39% at 28.50p, swings to half-year profit and revenue climbs

Pulsar Group PLC, up 17% at 20.50p

Forgent PLC, up 13% at 0.01p

Getech Group PLC, up 13% at 4.30p

Fonix PLC, up 12% at 192.00p, ups dividend as yearly earnings improve

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AIM losers

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Mothercare PLC, down 43% at 0.10p

Petro Matad Ltd, down 25% at 0.90p, PetroChina calls for end to delivery of Block XX output

SkinBioTherapeutics PLC, down 17% at 6.25p, warns of GBP1.2 million of exceptional costs

Beowulf Mining PLC, down 10% at 6.50p

Arkle Resources PLC, down 9.4% at 0.73p

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Small-cap and AIM movers in focus:

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Petro Matad, down 25% at 0.90p, 12-month range 0.67p-1.68p. PetroChina has instructed the oil company to cease delivery of Block XX production. "The Heron-1 and Gazelle-1 wells have therefore been shut in and whilst the shutdown will give some time for reservoir pressure to build up with the potential for some increased delivery on re-start, this was obviously not Petro Matad's plan," Petro Matad says. "This latest development in the long running saga is unexpected and unwelcome. Petro Matad has made its displeasure clear to PetroChina and in consultation with the Mongolian authorities is pursuing regulatory, ministerial and diplomatic channels to bring an end to this frustrating situation."

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Meridian Mining, up 12% at 109.75p, 12-month range 72.40p-117.00p. Shares jump as it sets out a definitive feasibility study at the Cabacal gold, silver and copper project in Brazil. In the base case, net present value, at a 5% discount rate, is USD2.09 billion. "What a tremendous result has been achieved," Chief Executive Officer Gilbert Clark says.

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M&C Saatchi PLC, down 6.0% at 138.14p, 12-month range 100.50p-154.50p. The advertising and marketing group says tough trading seen at the end of 2025 continued early in 2026 but "trading has progressively improved". M&C swings to a pretax loss of GBP161,000 in the first six months of 2026, from profit of GBP4.3 million a year prior. Net revenue declined 2.7% to GBP87.8 million from GBP90.2 million.

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Midwich Group PLC, up 3.2% at 151.77p, 12-month range 125.20p-226.00p. The audio visual distributor achieves pretax profit of GBP4.3 million in the first half of 2026, swinging from a loss of GBP3.0 million a year prior, as revenue increases 3.2% to GBP640.3 million from GBP620.3 million. "The group has made a solid start to the second half. Despite a mixed market backdrop and the volatility of the Middle East situation, with both growth opportunities and challenges, the group is trading in line with the board's profit expectations for the full year," Midwich says.

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By Eric Cunha, Alliance News news editor

Comments and questions to [email protected]

Copyright 2026 Alliance News Ltd. All Rights Reserved.


Related Shares:

Abrdn PropertyRc365 HoldingNanocoMeridian MiningTech MineralsASP.LNuformixLondon BtcElixirr InternationalKr1 PlcItim GrouPulsar GroupForgentGetech GrpFonixMidwich GroupM&C Saatchi
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