17th Apr 2024 10:25
(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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Severfield PLC, up 15% at 62.00 pence, 12-month range 48.10p-76.20p. It plans to launch a GBP10 million share buyback programme, as the North Yorkshire, England-based structural steel group hails good progress during the second half of its financial year that ended on March 30. Severfield expects to report a full year results slightly above its own previous expectations.
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Liontrust Asset Management PLC, up 5.4% at 671.42 pence, 12-month range 519.00p-1,018.00p. The asset manager reports a yearly decline in its assets under management and administration but says it started the new year with "confidence" on hope that interest rates in major economies have hit their peak. Assets under management and advice as of March 31 totalled GBP27.82 billion, down 11% from GBP31.43 billion at the start of the financial year. They rose slightly from GBP27.81 billion at the start of January, however. Liontrust suffered GBP6.08 billion worth of net outflows during the year, including GBP1.21 billion during the fourth-quarter. The fourth-quarter outcome was better than the GBP1.66 billion worth of net outflows it reported for the third.
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SMALL-CAP - LOSERS
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Metro Bank Holdings PLC, down 1.8% at 31.92p, 12-month range 28.30p-128.00p. Shares fall as Barclays cuts its price target for the stock to 30p from 35p, in a note previewing earnings from the UK banking sector. Barclays rates Metro Bank at 'underweight'.
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By Eric Cunha, Alliance News news editor
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