(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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Schroder European Real Estate Investment Trust PLC, up 3.6% at 69.8 pence, 12-month range 63.77p-89.75p. The property investor reports a slight decline its its portfolio. Says the direct property portfolio is independently valued at EUR210.2 million in the first quarter that ended December 31, down 1.8% on a like-for-like basis. Says this is due to continued outward yield movement, particularly for offices and select industrial properties. The portfolio office witnessed a valuation decline of 2.5%, while the portfolio industrial saw a valuation decline of 1.2%. However, more positively, the investor says it remains well positioned, with significant cash reserves, and continues to review select sustainability-led capital expenditure initiatives in the portfolio, which should optimise earnings growth and asset liquidity.
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SMALL-CAP - LOSERS
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Ceres Power Holdings PLC, down 6.8% at 153.34p, 12-month range 135.1p-518p. The clean energy technology developer's stock falls as Royal Bank of Canada cuts it to 'underperform' from 'sector perform'. RBC also slashes the price target to 150p from 600p previously.
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Synthomer PLC, down 2.5% at 146.5p, 12-month range 143.4p-1,247.07p. The chemicals manufacturer is also stung by a broker rating, with Berenberg cutting its price target to 320p from 400p. However, the German bank keeps its 'buy' rating for the stock, citing the firm's liquidity as an asset, despite its high indebtedness.
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By Elizabeth Winter, Alliance News deputy news editor
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Synthomer (SYNT)
Ceres Power (CWR)
Schroder Eur.r (SERE)