(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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EnQuest, up 7.9% at 23.8 pence, 12-month range 7.07p-23.94p. Tullow Oil, up 7.4% at 49.71p, 12-month range 7.17p-50.34p. Premier Oil, up 5.8% at 31.7p, 12-month range, 10.02p-81.54p. The oil and gas firms were tracking spot oil prices higher, quoted at USD68.35 a barrel Friday morning, up from USD67.11 late Thursday, following Thursday's OPEC meeting. "Yesterday's OPEC meeting did nothing to dent the good mood of investors for oil. On the contrary, the decision to maintain current production restrictions (including cuts in Saudi Arabia) has given further buying impetus to the current bullish rally. For now oil remains traded long, although this optimism will probably need to be backed by renewed demand in the next few months,' note analysts at ActivTrades.
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Saga, up 1.6% at 407.20p, 12-month range 118.50p-417.80p. The over-50s travel and retirement products specialist says it has reached agreement to amend covenants on its term loan and revolving credit facilities. It also says an agreement is expected to complete next week for a one-year extension to the debt deferral on its cruise ship facilities.
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AIB Group, up 1.5% at 170.70p, 12-month range 71.8p-199.9p. The Irish lender says in the near term, uncertainty "remains high" but remains positive for return to profitability in 2021. Posts a swing to loss in 2020 amid a challenging operating environment for European banks, with a continued low interest rate backdrop and Covid-19 uncertainty.
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SMALL-CAP - LOSERS
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Gamma Communications, down 1.7% at 1,534.04p, 12-month range 910p-1,805.79p. Barclays lowers its price target on the cloud communication services provider to 1,800p from 1,850p.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
Tullow Oil (TLW)
Saga (SAGA)
Gamma Communications (GAMA)
Enquest (ENQ)
Aib Group (AIBG)