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(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Friday.
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SMALL-CAP - WINNERS
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Sabre Insurance Group PLC, up 2.4% at 158.32 pence, 12-month range 93.20p-168.00p. RBC initiates coverage of the stock with an 'outperform' rating and 200p price target. The insurer on Thursday said it anticipates reporting annual improvements across "almost all key measures" for 2023. Gross written premiums are expected at around GBP225 million, 31% ahead of GBP171.3 million in 2022.
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SMALL-CAP - LOSERS
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XP Power Ltd, down 37% at 952.25p, 12-month range 682.41p-2,750.00p. The manufacturer of power controllers, warns its 2024 outturn will be "significantly below market expectations". The Singapore-based firm said there will be a "shortfall in revenue" this year. "This is based on recent order intake, revenue performance and discussions with customers, particularly within the Healthcare and Industrial Technology sectors, which confirm unusual, temporarily soft demand conditions and destocking. These softer trends have also emerged within our direct industry peers," it adds.
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Petra Diamonds Ltd, down 5.7% at 41.29p, 12-month range 38.70p-84.00p. The diamond miner explains sales in its fourth tender declined. Sales in the period, which runs until February, total USD47.8 million, down 30% from USD67.9 million in tender three which concluded in December. Tender 4 sales weaken by roughly a third year-on-year from USD72.1 million.
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By Eric Cunha, Alliance News news editor
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