12th Mar 2025 10:32
(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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SolGold PLC, up 30% at 7.94 pence, 12-month range 6.00p-13.20p. The Ecuador-focused exploration company receives further investment from Jiangxi Copper Co Ltd, a Chinese copper producer. The USD18 million investment, at USD0.115 per share, is a 45% premium to SolGold's closing price on Tuesday. Jiangxi will lift its stake in SolGold to just over 12% from just under 7%. No new shares are being issued as part of the investment. The shares are being sold by SolGold Canada. SolGold said: "The owned shares were acquired by the company pursuant to the acquisition of Cornerstone Capital Resources Inc (now known as SolGold Canada Inc). Therefore, no new shares of SolGold have been issued in connection with the investment and the company's total issued share capital remains unchanged."
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Forterra PLC, up 5.2% at 167.20 pence, 12-month range 146.40p-200.50p. The maker of clay and concrete building products says pretax profit in 2024 climbs 45% to GBP24.8 million from GBP17.1 million, despite revenue declining 0.6% to GBP344.3 million from GBP346.4 million. "Trading in the first two months of 2025 has continued the positive trends seen in the final quarter of 2024, with our brick despatches 17% ahead of the prior year. We are currently concluding our customer pricing discussions and expect to deliver necessary price increases to offset cost inflation," Chief Executive Officer Neil Ash says.
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SMALL-CAP - LOSERS
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Secure Trust Bank PLC, down 2.1% at 416.00p, 12-month range 331.00p-950.00p. Shares fall again, with motor finance regulatory worries hanging over the stock. Secure Trust provides motor finance through the V12 Vehicle Finance and Moneyway brands. The UK Financial Conduct Authority on Tuesday said it is no longer planning a further update on its review into past use of motor finance discretionary commission arrangements in May. The FCA intends to outline the next steps within six weeks of a Supreme Court verdict. This will include whether the FCA is proposing a redress scheme and if so, how it will take it forward. The Supreme Court is due to hear an appeal brought by car loan providers challenging an October ruling that sided with consumers.
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By Eric Cunha, Alliance News news editor
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Related Shares:
ForterraSolGoldSecure Trust