6th Jun 2023 10:11
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Tuesday.
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SMALL-CAP - WINNERS
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Zotefoams PLC, up 3.7% at 353.64 pence, 12-month range 233p-414p. The cellular material technology producer says exclusivity agreement with Nike Inc has been extended to December 31, 2029. Zotefoams develops footwear technology and supplies materials to Nike. The agreement sets out terms and conditions under which Zotefoams exclusively supplies Nike with high-performance foam materials. All conditions besides the agreement's length remain unchanged. Zotefoams cannot disclose specific details of the contract due to confidentiality agreements. Zotefoams had signed an exclusive partnership with Nike back in 2017.
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Schroders Capital Global Innovation Trust PLC, up 3.0% at 14.11p, 12-month range 11.5p-23.95p. The investor focused on a diversified portfolio of global private and public equity companies announces a USD1.7 million investment in Carmot Therapeutics Inc as part of its series E financing round. Carmot is a US-based clinical stage biopharmaceutical firm focused on disease-modifying therapies for metabolic diseases. Utilizing a pioneering drug discovery platform called Chemotype Evolution, Carmot identifies novel drug targets and develops a broad pipeline of experimental therapeutics with the aim of treating patients suffering from metabolic diseases, including obesity and diabetes," Schroder Capital explains.
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SMALL-CAP - LOSERS
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EnQuest PLC, down 4.2% at 14.69p, 12-month range 14.34p-33.13p. The London-based oil and gas producer with assets in the UK and Malaysia's stock falls as the price of Brent recedes from recent highs after the production cut announced by Saudi Arabia on Sunday. Having reached USD78.24 earlier in the week, a barrel of Brent trades at USD75.21 mid-morning on Tuesday in London.
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By Elizabeth Winter, Alliance News senior markets reporter
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EnquestSchroders CapZotefoams