(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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abrdn Diversified Income & Growth PLC, up 11% at 84.64 pence, 12-month range 72.40p-95.20p. In October, the investor had announced a strategic review into the company. On Thursday, it says it plans to wind down the company. The review sought to address the material discount to net asset value at which its shares have traded and consider how best to deliver shareholder value. It says that it expects to return around GBP115 million to shareholders in the first half of 2024.
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Marston's PLC, up 6.0% to 29.95p, 12-month range 26.80p-45.68p. JPMorgan raises the pub operator's stock to 'overweight' from 'neutral'. Also raises price target to 58p from 54p.
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SMALL-CAP - LOSERS
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Kenmare Resources PLC, up 3.7% at 373.99p, 12-month range 369.13p-500.00p. The titanium minerals and zircon producer provides an update on capital projects and outlook. It says that its board has approved for execution an upgrade to WCP A and development of a tailings storage facility. WCP A will complete mining at Namalope in late 2025, and commence its transition to the Nataka ore zone, where it is expected to operate for the remainder of its economic life, exceeding 20 years. "The board has given further approvals for the upgrade of Wet Concentrator Plant A and transition to the Nataka ore zone. The project is expected to deliver consistent production volumes for decades to come and maintain Kenmare's low operating costs, targeting the retention of a first quartile industry position," says Managing Director Michael Carvill.
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By Sophie Rose, Alliance News senior reporter
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Abrdn Di&g (ADIG)
Marstons (MARS)
Kenmare Resources (KMR)