The following stocks are the leading risers and fallers among London Main Market small-caps on Thursday.
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SMALL-CAP - WINNERS
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JPMorgan Global Core Real Assets Ltd, up 6.0% at 77.38 pence, 12-month range 65.11p-113.00p. The investor in real estate, infrastructure, transportation and listed real assets plans to use its share buyback authority to actively buy shares on an ‘ad hoc’ basis, since they trade at a ‘material disconnect’ to net asset value. ‘No maximum consideration payable has been determined by the company for any buyback,’ JPMorgan Global Core Real Assets says.
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Pod Point Group Holdings PLC, up 5.5% at 32.69 pence, 12-month range 29.00p-115.90p. The electric vehicle charging services provider wins a multi-year preferred partnership agreement with FTSE 250-listed housebuilder Redrow PLC. Pod Point has been selected by Redrow to provide EV charging infrastructure for the developer’s England and Wales divisions, ‘which collectively build over 5700 new homes each year’. ‘The deal builds upon the companies’ close collaboration since 2018, during which time Pod Point has supplied 2,000 chargepoints to Redrow, driven by continued developments in local and national climate legislation. These regulations include the notable ruling from June 2022 that all new residential developments in England must have at least one 7 kilowatt charge point for each residence with a parking space,’ Pod Point adds. ‘The group now has commercial relationships with a growing number of the largest housebuilders in the UK,’ the company says, noting a similar deal with Barratt Developments PLC.
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SMALL-CAP - LOSERS
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PayPoint PLC, down 3.0% at 558.99p, 12-month range 372.50p-660.00p. Shares in the payment services company decline as its shares go ex-dividend, meaning new buyers do not qualify for the latest payout.
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Petrofac Ltd, down 3.0% at 84.85p, 12-month range 45.38p-127.60p. The energy infrastructure company reports a half-year loss, hurt by ‘low levels of activity’ in its Engineering & Construction division, the largest revenue contributor. Petrofac said group revenue in the six months to June 30 declined 3.2% to $1.21 billion from $1.25 billion a year prior. It swung to a pretax loss of $160 million, from profit of $34 million. ‘Revenue for the first half of the year was broadly in line with the prior year at $1.2 billion, largely reflecting the low levels of activity in E&C offset by growth in Asset Solutions,’ the company says. The Asset Solutions division provides services such as optimising maintenance programmes, and assisting with decommissioning, which occurs when oil and gas projects move towards the end of their lives.
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