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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Ecofin Global Utilities & Infrastructure Trust PLC, up 2.5% at 209 pence, 12-month range 165p-252p. At September 30, the trust reports a net asset value per share of 208.14p, rising 6.7% year-on-year from 195.11p. NAV total return for the year was 12.5%, outperforming the MSCI World Index, which fell 2.4%. The investment firm also says it will raise dividends to 7.80p on annual basis from February, compared to a total of 7.20p currently.
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SMALL-CAP - LOSERS
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Petrofac Ltd, down 10% at 65p, 12-month range 64.35p-161.2p. The energy services company in oil, gas, refining, petrochemicals and renewable energy infrastructure says it expects a group loss before interest and tax of around $100 million in 2022, mostly due to a $190 million Ebit loss in its Engineering & Construction business. Petrofac said this is due to adverse commercial settlements and unrecovered cost overruns in its legacy portfolio, alongside cost increases on its Thai Oil clean fuel joint-venture contract. In 2021, Petrofac posted an Ebit loss of $14 million for E&C, and an overall reported operating loss of $130 million.
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Fidelity Japan Trust PLC, down 4.0% at 168p, 12-month range 143p-239p. The Japan-focused investor falls as Tokyo’s Nikkei 225 index closes down 2.5%. Stocks in Japan came under heavy selling pressure after the Bank of Japan adjusted its monetary policy. The bank said it will widen the band in which it would allow rates for 10-year Japan government bonds to move, saying it would ‘improve market functioning’.
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