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(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.
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SMALL-CAP - WINNERS
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Argo Blockchain PLC, up 6.0% at 151.13 pence, 12-month range 3.40p-162.00p. The cryptocurrency miner is tracking the price of bitcoin higher. Bitcoin surged to within touching distance of USD40,000 for the first time in more than two weeks after Elon Musk said at the weekend that Tesla would accept payments in the unit again once it is mined using around 50% clean energy.
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Ted Baker PLC, up 4.1% at 173.20p, 12-month range 59.37p-217.60p. The fashion retailer says it is making progress on its strategic turnaround plan, despite its annual loss widening. Revenue for its 53-week financial year that ended January 30 was GBP352 million, down 44% from GBP630.5 million in the 52-week year prior. Pretax loss widened to GBP107.7 million from from a restated GBP77.6 million. Ted Baker is in the first year of a three-year strategic transformation programme it has dubbed 'Ted's Growth Formula', and said progress made so far has been "encouraging".
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Alphawave IP Group PLC, up 2.5% at 323.00p. The stock is down 21% from May's initial public offering price of 410.00p. The chip developer hails record results in the group's "strongest-ever first half performance" as it reports more than USD190 million in business bookings in the year to date.
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SMALL-CAP - LOSERS
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Esken Ltd, down 16% at 25.98p, 12-month range 17.03p-43.95p. The aviation and energy infrastructure firm confirms Stobart Air has ceased trading and is taking steps to appoint a liquidator. Esken back in April had agreed to sell Stobart Air to Isle of Man-based Ettyl for a nominal GBP2, plus up to GBP7.5 million by 2024 depending on performance. However, "it is now clear" Ettyl is unable to conclude the deal on the original terms or obtain an alternative funding package within the required timeframe, Esken said on Saturday. Therefore, Esken has terminated the sale and advised the Stobart Air board it will not continue to provide financial support to the business.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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