(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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Scottish Investment Trust PLC, up 5.6% at 844.90 pence, 12-month range 725.00p-933.00p. The investor tracks its US-listed investments higher. Scottish Investment has stakes in firms including Microsoft Corp, Amazon.com Inc and Mastercard Inc. US stocks surged on Wednesday, with the tech heavy Nasdaq Composite, housing firms such as Amazon, jumping 2.6%.
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Go-Ahead Group PLC, up 2.5% at 1,538.10 pence, 12-month range 450.60p-1,668.00p. The public transport provider backs a slightly improved takeover offer from a consortium consisting of Kinetic Holding and Globalvia Inversiones. They had already agreed on a 1,500p per share takeover. The offer now has been raised to 1,550p. The bid comprises of a 1,450p cash element and a special dividend of 100p per share. It values Go-Ahead at GBP669 million.
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Mears Group PLC, up 2.5% at 204.00 pence, 12-month range 175.00p-228.00p. The housing sector services provider posts improved interim earnings. Revenue in the six months to June 30 rises 9.3% year-on-year to GBP485.0 million from GBP443.7 million. Pretax profit jumps to GBP17.9 million from GBP5.6 million. Mears lifts its dividend by 30% to 3.25p from 2.50p.
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SMALL-CAP - LOSERS
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Secure Trust Bank PLC, down 6.8% at 1,165.00p, 12-month range 1,030.00p-1,420.00p. The specialist lender reports a decline in first-half pretax profit and lowers its payout. Pretax profit from continuing operations in the half-year ended June 30 falls 41% annually to GBP17.1 million from GBP29.3 million. The bottom-line is hit by GBP17.9 million in net impairment charges, compared to a release of GBP400,000 a year earlier. Secure Trust cuts its payout by 20% to 16p per share from 20p.
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By Eric Cunha; ericcunha@alliancenews.com
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Mears (MER)
Secure Trust (STB)