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(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Thursday.
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SMALL-CAP - WINNERS
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Petrofac Ltd, up 68% at 81.88 pence, 12-month range 45.38p-161.2p. Shares in the energy services company surge as it and Hitachi Energy secure a EUR13 billion framework for expanding offshore wind capacity in the Dutch-German North Sea. The firms were selected by TenneT, the Dutch-German transmission operator. Petrofac and Hitachi will supply multiple offshore platforms and onshore converter stations to "accelerate the integration of bulk renewables into European power grids". Petrofac did not elaborate on how the fee would be divided.
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Moonpig Group PLC, up 17% at 132.6p, 12-month range 101.9p-283.4p. The online greeting cards company reports its "largest ever week of sales" in the UK leading up to Mother's Day. It backed revenue expectations for the year ending April 30 to be GBP320 million, and also left expectations for annual adjusted earnings before interest, tax, depreciation and amortisation unchanged. It expects revenue to grow in financial 2024, with a weighting towards the second half.
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SMALL-CAP - LOSERS
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AVI Japan Opportunity Trust PLC, down 2.3% at 118p, 12-month range 103p-124.2p. The investor in Japanese stocks falls it shares opinions on best practices for takeovers to the Japanese Ministry of Economy, Trade & Industry. "There are real concerns that takeover defence measures may be abused by management to protect their own interests and that they might lead to complacency towards growing corporate value," it says. The firm hopes to see "clear and reasonable" guidelines to prevent the arbitrary use of takeover defence measures.
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By Elizabeth Winter, Alliance News senior markets reporter
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