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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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Vanquis Banking Group PLC, up 2.4% at 51.00 pence, 12-month range 43.15p-241.62p. Shares in the company look set to register a fourth-successive daily gain, eating into some of its year-to-date loss of around 60%. It plunged 50% on March 11 alone as it warned on its 2024 outturn, expecting income to be "materially lower than market consensus expectations".
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SMALL-CAP - LOSERS
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Petrofac Ltd, down 9.1% at 24.10p, 12-month range 14.58p-87.50p. The stock suffers as further slide after plunging 20% on Friday. The oilfield services company on Friday said "all options" remaining under consideration in regard to the restructuring of its debt. Petrofac said its discussions would revolve around restructuring debt in a way that would result in a significant proportion of the debt being exchanged for a stake in the company. Further, it is in talks with prospective investors and major shareholders for a potential investment in the company, including a potential sale of non-core assets.
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Ceres Power Holdings PLC, down 3.8% at 133.70p, 12-month range 126.40p-444.80p. The stock falls to this one-year low on Monday. The developer of clean energy technology says revenue in 2023 rises 13% to GBP22.3 million from GBP19.8 million. Its pretax loss, however, stretches to GBP53.6 million from GBP51.5 million. Operating costs increase 16% to GBP76.6 million from GBP66.1 million. Chief Executive Officer Phil Caldwell says: "After a challenging 2023, Ceres is already on track for a strong year in 2024."
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By Eric Cunha, Alliance News news editor
Comments and questions to newsroom@alliancenews.com
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