SMALL-CAP WINNERS & LOSERS: On the Beach scraps guidance amid Iran war

Thu, 12th Mar 2026 10:03

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Thursday.

----------

SMALL-CAP - WINNERS

----------

First Class Metals PLC, up 44% at 1.48 pence, 12-month range 0.62p-3.60p. The gold and critical metals explorer in Ontario, Canada says visible gold is identified within drill core at its Roy and Sunbeam projects in Ontario, with its current drilling programme nearing completion. First Class Metals says further assay results are expected shortly.

----------

Rainbow Rare Earths Ltd, up 5.6% at 29.30p, 12-month range 9.00p-29.50p. Shares in the developer of the Phalaborwa rare earths project in South Africa and the Uberaba project in Brazil rise after Berenberg raises its price target to 49 pence from 34p and reiterates a 'buy' rating.

----------

SMALL-CAP - LOSERS

----------

On the Beach Group PLC, down 8.7% at 164.80p, 12-month range 164.80p-304.50p. Suspends its full-year profit guidance after the conflict in the Middle East triggered a sharp slowdown in holiday bookings to key destinations. The online holiday retailer says demand has weakened significantly for trips to Turkey, Greece, Cyprus and Egypt following the outbreak of the conflict, despite having limited direct exposure to the Middle East. As a result, the company has temporarily withdrawn its guidance for adjusted pretax profit of GBP39 million to GBP43 million for the year. The group notes that trading earlier in the financial year had been strong, with bookings up 10% year-on-year and repeat customer bookings rising 19% in the period to February 28. On the Beach adds that it continues to trade profitably and generate cash, supported by its asset-light operating model, though the timing of a recovery in travel demand remains uncertain. CEO Shaun Morton says: "Momentum has been building since we entered 2026, recording our highest ever volume trading day on February 1 and a 34% increase in Q2 travelled/departed volumes. Our customer loyalty continues to grow with repeat customers up 19% in the period." The company says investment in its mobile app is driving stronger customer engagement, with bookings made directly through the app rising 58% during the period and accounting for 38% of total bookings. On the Beach adds that its artificial intelligence strategy is progressing, with integrations linking its holiday inventory to major AI platforms. The group recently submitted its app to ChatGPT, which it says opens a new distribution channel and highlights its readiness for an AI-driven travel market.

----------

By Eva Castanedo, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Risers and Fallers Market News