SMALL-CAP WINNERS & LOSERS: Marston's Falls As Suitor Rules Out Bid

Thu, 11th Feb 2021 11:03

(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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MJ Gleeson, up 4.2% at 767.00 pence, 12-month range 512.00p-1,005.00p. The housebuilder posts a significant rise in its earnings for its first half and forecasts full year results to be "significantly ahead" of market consensus. Pretax profit for the six months to December 31 rises 53% to GBP20.3 million with revenue climbing 36% to GBP142.6 million.

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Gem Diamonds, up 8.1% at 53.40 pence, 12-month range 23.00p-69.93p. Shares in the company fell 3.5%, snapping a four-day win streak, though its stock has recovered on Thursday to trade at a year-to-date high. In addition, the Wall Street Journal on Tuesday reported diamond prices have risen from lows seen last March, amid boosted demand in Asia.

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SMALL-CAP - LOSERS

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Marston's, down 14% at 85.85p, 12-month range 18.40p-108.74p. A private equity suitor will not submit a revised bid for the pub firm. Platinum Equity Advisors said that, after "careful consideration", it does not intend to submit a revised proposal and it will not make a firm offer for Marston's.

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Carclo, down 5.1% at 20.50p, 12-month range 3.10p-26.50p. The West Yorkshire-based engineering firm, with customers in the medical, optical and aerospace industries, has given back more share price gains. The stock fell 1.8% on Wednesday, returning some of its roughly 25% year-to-date gains.

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On The Beach, down 3.1% at 302.50p, 12-month range 112.60p-438.20p. Shares in the travel firm have continued to fall this week due. Foreign holidays will remain banned until "everybody" has had a coronavirus vaccine, UK Transport Secretary Grant Shapps has said. Prime Minister Boris Johnson later on Wednesday added it is "just too early for people to be certain about what we'll be able to do this summer".

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Gym Group, down 2.0% at 245.50p, 12-month range 75.00p-310.20p. The company's gyms have been closed in England since a third nationwide lockdown was imposed in January. Lockdown measures will need to be lifted with "caution" and led by data, according to the UK's Chief Scientific Adviser Patrick Vallance.

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By Eric Cunha; ericcunha@alliancenews.com