(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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Innovaderma PLC, up 7.4% at 33.30p, 12-month range 25.74p-66.96p. The beauty, personal care and life science products developer posts narrowed operating pretax loss and expects a return to profitability in financial 2022. For the financial year that ended June 30, revenue is GBP10.2 million, down 23% from GBP13.2 million the year before, and operating loss narrows to GBP1.9 million from GBP5.0 million. "Board is optimistic that the transformation plan enacted this year, as well as underlying improved consumer consumption versus last year, will enable the business to return to profitability this year. The group has been trading in line with expectations, with retail momentum steadily returning in the UK beauty category to pre-pandemic levels," Innovaderma says.
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Palace Capital PLC, up 1.1% at 257.88 pence, 12-month range 189.00p-290.00p. The commercial property investor says it has completed the sale of Russell House, Walton on-Thames, Surrey for GBP2.7 million and exchanged contracts to sell Westminster House, Gerrards Cross, Buckinghamshire for GBP1.9 million. Both are being sold at a significant premium to book value and the latest transactions bring to GBP28.2 million the value of properties sold under the company's GBP30 million disposal programme.
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SMALL-CAP - LOSERS
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Restaurant Group PLC, down 2.6% at 78.30p, 12-month range 53.15p-140.00p. Shares in the casual dining chain operator are lower amid fears of tighter restrictions in the UK to combat the spread of the Omicron variant. "Football matches called off, theatre shows postponed, restaurant bookings cancelled; all these factors would suggest that problems are bubbling up, and ones which could have a negative impact on the economy," comments AJ Bell's Russ Mould.
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Hunting PLC, down 3.4% at 154.60p, 12-month range 142.80p-297.00p. Petrofac Ltd, down 3.3% at 113.60p, 12-month range 90.66p-203.34p. The oilfield service providers are tracking spot oil prices lower, quoted at USD71.05 a barrel Monday morning, down sharply from USD73.70 late Friday. "Omicron nerves are getting more frazzled by the day, especially in Europe and the UK where the spectre of tighter restrictions loom. Additionally, with Senator Manchin torpedoing the Build Back Better bill, US growth will likely take a small haircut next year. Taken in totality, oil markets are pricing in lower consumption into 2022," says Oanda Markets analyst Jeffery Halley.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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Hunting (HTG)
Petrofac (PFC)
Palace Capital (PCA)