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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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Robert Walters PLC, up 2.8% at 793.64 pence, 12-month range 510.00p-892.00p. Credit Suisse lifts price target on the recruiter to 880p from 815p and reiterated its Neutral rating.
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M&C Saatchi PLC, up 2.6% at 179.50p, 12-month range 89.00p-210.00p. Shares in advertising agency are higher as suitor AdvancedAdvT improves takeover offer to include a cash element, but this has been rejected by M&C Saatchi's independent directors. AdvancedAdvt offered 1.633 AdvancedAdvt shares plus 40 pence cash for each M&C Saatchi share. The offer was an alternative to an all-share offer of 2.245 AdvancedAdvt shares for each M&C Saatchi share AdvancedAdvt also said it would move its shares to AIM, where M&C Saatchi currently is listed, from the London Main Market as part of M&C Saatchi offer. But following the rejection, AdvancedAdvT said it is "considering its options".
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SMALL-CAP - LOSERS
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De La Rue PLC, down 27% at 108.80p, 12-month range 104.00p-214.94p. Shares in banknote printer fall to 12-month low as it warns annual profit will miss market expectations, due to significant pressure from the extended Covid-19 pandemic. For the financial year ending March 26, De La Rue expects adjusted operating profit to come between GBP36 million and GBP40 million, flat on GBP38.1 million in the prior year but below market expectations of GBP45 million to GBP47 million.
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Argo Blockchain PLC, down 17% at 62.71p, 12-month range 60.00p-339.81p. Shares in cryptocurrency miner hit 12-month low tracking price of bitcoin lower. The world's oldest cryptocurrency was priced at USD33,591.80 on Monday morning, down sharply from USD38,982.80 at the same time on Friday. Bitcoin has halved in value since its November high. "It looks like the bubble has burst as panic selling grips the market. What this episode has taught us is that this is still a very nascent asset class with a high level of correlation between individual crypto assets, particularly on the way down. It has also taught us that for those willing to enjoy the ride higher, traders need to be able to stomach the sharp volatility and steep declines as well," says Victoria Scholar, head of Investment, interactive investor.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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