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SMALL-CAP WINNERS & LOSERS: Record down as managed assets decline

Fri, 20th Oct 2023 10:02

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




Regional REIT Ltd, up 4.4% at 27.52 pence, 12-month range 25.57p-69.60p. This is after the London-based real estate investment trust's share price falls 2.0% in the last five days and 49% in the last six months. Last month, it reported a first half pretax loss of GBP12.1 million from a profit of GBP28.3 million a year earlier.


Oxford BioMedica PLC, up 3.7% at 260.26p, 12-month range 236.50p-575.00p. This is after the Oxfordshire, England-based gene and cell therapy group's share price falls 7.8% in the last five days and 39% in the last six months. Last month, it reported that its first half pretax loss widened to GBP52.3 million from GBP27.4 million, although shares rose on noting it was in exclusive talks to buy ABL Europe from Institut Merieux SA for EUR15 million.




Record PLC, down 4.9% at 69.4p, 12-month range 68.12p-102.00p. The currency and derivatives manager said that plans for diversification are progressing well, despite seeing assets under management decline in the second quarter. For the three months ended September 30, it says assets under management equivalents fell to USD84.5 million, from USD86.4 million at the end of June. Dynamic hedging assets under management fall 5.2% to USD14.5 billion from USD15.3 billion in the first quarter, while passive hedging assets fall 1.8% to USD60.5 billion from USD61.6 billion. "Our plans for diversification through our asset management and digital asset businesses continue to progress well, albeit in places more gradually than initially envisaged, and I look forward to giving more detail on our strategic progress at our forthcoming half-year results in November," says Chief Executive Leslie Hill.


Sabre Insurance Group PLC, down 4.3% at 145.5p, 12-month range 81.90p-168.00p. Barclays raises its price target for the Dorking, England-based motor insurance underwriter to 171p from 157p, rating the stock at 'overweight'. Sabre Insurance shares were up 3.3% at 155.00p in London on Thursday around noon, after celebrating a sharp increase in gross written premiums in the last nine months, despite Motorcycle premiums plummeting. It also raised its full-year guidance. Gross written premiums increased 20% in the nine months ended September 30, to GBP162.2 million from GBP135.7 million. In 2022, they totalled GBP171.3 million.


By Greg Rosenvinge, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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