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SMALL-CAP WINNERS & LOSERS: STV names Euromoney's Jones as new NED

30th Aug 2024 10:45

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

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SMALL-CAP - WINNERS

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STV Group PLC, up 3.8% at 268.00 pence, 12-month range 175.00p-297.00p. The Glasgow-based television broadcaster and content producer's shares rose, following its announcement that Colin Jones will join the board as an independent non-executive director and chair of the audit and risk committee on September 2. Jones was previously both chief operating officer and chief financial officer at Euromoney Institutional Investor PLC. Chair Paul Reynolds said: "Colin's impressive track-record brings with it a wealth of valuable experience to STV. His keen interest in the media sector, extensive finance and non-executive experience and his detailed understanding of the challenges faced by small cap businesses will be of benefit to us. Colin is a very strong addition to our board at an exciting time of growth for the company."

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SMALL-CAP - LOSERS

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CQS New City High Yield Fund Ltd, down 0.1% at 51.63p, 12-month range 43.49p-54.00p. The investor in high-yield fixed interest securities said that net asset value per share on July 31 was 50.11 pence, up 1.1% on month and 18% on-year. Ian Franco Francis, investment manager at New City Yield, noted the "negligible impact" of the Labour Party's win in the UK general election, with this result widely forecast, and also noted that July's S&P global flash UK PMI figures were "comfortably in growth territory". Reflecting on the strength of the portfolio, Franco Francis added that in the equity element, New City High Yield sold out of Harbour Energy PLC and downsized its holdings in Diversified Energy Co PLC and Croma Security Solutions Group PLC.

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By Holly Beveridge, Alliance News senior reporter

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