(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Tuesday.
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SMALL-CAP - WINNERS
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Marston's PLC, up 7.5% at 43.27 pence, 12-month range 25.55p-46.65p. The pub operator reports a swing to annual profit. Revenue in the year to September 28 improves 3.0% to GBP898.6 million from GBP872.3 million, helping to push it pretax profit of GBP14.4 million from a loss of GBP30.6 million.
It says it is "very confident" about its outlook but notes October's autumn budget in the UK "puts some additional pressure on costs". Like-for-like sales in the first six weeks of the new year grow by 3.9%.
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STV Group PLC, up 3.9% at 235.40 pence, 12-month range 180.50p-297.00p. The television broadcaster and content producer has been commissioned to produce three more series of the Auction House for the Warner Bros Discovery UK & Ireland-owned channel Really. The order consists of 37 hour-long episodes. "The order includes ten new episodes of recent spin-off The Derbyshire Auction House, which first launched in July 2024 and follows antiques dealer, Irita Marriott - one of the few women in the country to helm an auction house," STV adds.
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SMALL-CAP - LOSERS
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Genel Energy PLC, down 16% at 73.70p, 12-month range 64.10p-103.00p. The stock tanks after the London Court of International Arbitration rules that the Kurdistan Regional Government validly terminated the Bina Bawi and Miran production sharing contracts, dismissing a Genel Energy counterclaim. The oil & gas company with production assets in the Kurdistan region, on Monday noted the claim was brought by Kurdistan back in 2021 against Genel subsidiary Genel Energy Miran Bina Bawi Ltd. "The claim, commenced by the KRG in 2021, sought a declaration that the KRG had the contractual right to terminate both the Bina Bawi production sharing contract and the Miran production sharing contract. Subsequently, the Genel Board concluded that it was left with no practical alternative but to accept that in its view both the Bina Bawi and Miran production sharing contracts were terminated as a consequence of the KRG's repudiatory breaches and to submit a counterclaim for damages from the KRG for loss of Genel's rights to develop the Bina Bawi and Miran fields," Genel added. "The tribunal has ruled that the KRG validly terminated the Bina Bawi and Miran production sharing contracts and that GEMMBL's counterclaim is dismissed. The tribunal also reserved for determination in a future award(s) the allocation of the costs relating to the arbitration."
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By Eric Cunha, Alliance News news editor
Comments and questions to newsroom@alliancenews.com
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Stvg (STVG)
Marstons (MARS)
Genel Energy (GENL)
