4th Jul 2024 10:08
(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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Forterra PLC, up 4.5% at 171.80 pence, 12-month range 190.60p-122.20p. RBC started the building product manufacturer with an 'outperform' broker rating. Also gives Forterra a 210p target price.
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Kenmare Resources PLC, up 2.9% at 335.50p, 12-month range 291.00p-452.00p. The mining company notes steady progress on upgrade of its Wet Concentrator Plant A and the transition to the Nataka ore zone at its Moma Mine in Mozambique. The project remains within the estimated capital cost of USD341 million.
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SMALL-CAP - LOSERS
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NewRiver REIT PLC, down 3.2% at 76.48p, 12-month range 92.11p-67.50p. The real estate investment trust buys Ellandi Management Ltd, an asset and development management business focused on UK retail and regeneration. It says it will pay GBP5 million initially, with an additional payment of up to GBP4 million dependent on earnings before interest, tax, depreciation and amortisation performance over a three year period. NewRiver explains: "This acquisition provides NewRiver's existing Capital Partnership business with additional scale and diversification, as well as introducing complementary experience of managing destination shopping centres and regeneration projects, and is consistent with NewRiver's strategy to deliver earnings growth in a capital-light way."
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By Sophie Rose, Alliance News senior reporter
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