SMALL-CAP WINNERS & LOSERS: Pinewood races higher amid deal win

Fri, 14th Feb 2025 10:19

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

----------

SMALL-CAP - WINNERS

----------

JPMorgan China Growth & Income PLC, up 4.7% at 253.32 pence, 12-month range 182.00p-281.00p. The stocks benefits from the investor's exposure to Alibaba Group Holding Ltd, one of its largest holdings. Alibaba jumped 6.3% in Hong Kong after Bloomberg News reported Friday that Chinese President Xi Jinping was preparing to meet the tech firm's co-founder Jack Ma.

----------

Pinewood Technologies Group PLC, up 2.8% at 339.25p, 12-month range 256.08p-399.00p. The software business for automotive dealers wins a five-year deal with Global Auto Holdings PLC. It will see the Pinewood Automotive Intelligence platform deployed into all of Global Auto's owned dealerships across the UK, North America and Scandinavia. "Global Auto Holdings is one of the largest consumer-facing global automotive companies in the world with over 155 franchise dealership locations in the UK, North America and Scandinavia with an additional captive dealership network through its automotive distribution division," Pinewood adds. To recognise the "significant scale of this contract and the importance of the partnership going forward", Pinewood has issued an affiliate of Global Auto warrants for a maximum of 6.1 million share, exercisable at 330p each. The shares represent around 7% of Pinewood's issued stock capital. Pinewood says trading momentum has picked up in recent months. It now expects underlying pretax profit for the 11-month period to December 31 will be GBP8.3 million, ahead of consensus of GBP7.8 million. Its prior accounting period began on February 1, around the time it sold its former Motor & Leasing arm. The current financial year is the 12 months to December 31, 2025.

----------

Costain Group PLC, up 1.0% at 103.50p, 12-month range 61.00p-113.00p. Berenberg kicks off coverage of the stock at 'buy', with a 140p price target.

----------

SMALL-CAP - LOSERS

----------

Cloudbreak Discovery PLC, down 15% at 0.13p, 12-month range 0.10p-0.50p. Shares are restored to trading after publication of the natural resource project generator's annual report for the year to June 30, as well as the subsequent upload of that file to the Financial Conduct Authority's National Storage Mechanism. Numbers in late January showed its annual loss narrowed to GBP855,966 from GBP4.0 million.

----------

By Eric Cunha, Alliance News news editor

Comments and questions to newsroom@alliancenews.com