27th Jan 2021 10:33
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday.
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SMALL-CAP - WINNERS
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BMO Real Estate, up 6.2% at 71.80 pence, 12-month range 38.72p-89p. The real estate investor said its net asset value per share at the end of December was 98.1p, an increased of 3.5% from September 30. Overall rent collection for the nine months to the end of December was 94.4%. "The portfolio remains substantially let to a highly diverse tenant base. The allocation to Industrial, logistics and distribution assets in the south east and the absence of any exposure to the leisure and hospitality sectors are significant factors in the comparatively high level of the company's rent collection," the company said.
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Saga, up 4.1% at 276.8 pence, 12-month range 118.5p-701.7p. The holiday and insurance provider to over 50s was rebounding after falling 4.3% on Tuesday, when it said it had started "constructive discussions" with lenders. Further, travel stocks this week have come under pressure as countries tighten borders in order to stem the spread of new coronavirus variants. Saga shares remain 5.9% lower since the week began.
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SMALL-CAP - LOSERS
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Tulllow Oil, down 2.4% at 30.49p, 12-month range 7.17p-54.78p. The South America and Africa-focused oil and gas company said it delivered production in line with expectations during 2020 in spite of difficulties caused by the Covid-19 pandemic. The South America and Africa-focused oil and gas company said it expects 2020 revenue to be about GBP1.4 billion, as working interest oil production averaged 74,900 barrels of oil per day - in line with its prior guidance - and the average realised price was USD50.8 per barrel. For comparison, 2019 revenue was USD1.7 billion, with production at 86,700 barrels of oil per day. Tullow Oil said it expects 2021 production to decline to 60,000 to 66,000 barrels of oil per day, due to a drilling hiatus, a planned shutdown on Jubilee in September, and deferred development drilling on Simba in Gabon. Tullow also said it has agreed a one-month extension, to the end of February, of talks with its creditors about debt refinancing, saying this will give time for the lenders to review Tullow's business plan and operating strategy.
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By Lucy Heming;Â [email protected]
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