The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.
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SMALL-CAP - WINNERS
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Foxtons Group PLC, up 6.7% at 43.2 pence, 12-month range 28.64p-43.95p. The London-based estate agency rises amid reports it is coming under pressure from shareholders to sell itself. The Sunday Times reports that Milkwood Capital, which holds about a 4% stake in the firm, is the latest of its shareholders asking for a sale. ‘Public markets are no longer valuing the good work the management has done recently and the only way to extract fair value is for the board to carry out a sale process,’ Rhys Summerton, who runs Milkwood Capital, tells the Sunday Times. Canadian investor Converium Capital, reported to hold around 6% of Foxtons, has been lobbying the firm to carry out a strategic review over the past year and a half, the Sunday Times adds.
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Seraphim Space Investment Trust PLC, up 3.1% at 30 pence, 12-month range 26p-54.2p. The space technology investment firm shares rise upon release of its first-quarter results. At the end of September, its net asset value per share was 96.51p, falling 7.7% from 92.90p at the end of June. ‘Despite the global geopolitical and macroeconomic environment, the space sector continues to grow at an unprecedented rate due to the critical nature of technology and insight it provides,’ says Chair Will Whitehorn. The stock is down 37% in 2023 so far.
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SMALL-CAP - LOSERS
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Schroders Capital Global Innovation Trust PLC, down 3.7% at 14.25p, 12-month range 11.5p-16p. The investment trust focused on a diversified portfolio of global private and public equity companies invested fr.900,000, about £800,000, in Swiss clinical-stage biopharmaceutical firm Memo Therapeutics AG. Memo develops novel therapeutic antibodies for patients with viral infection and cancer. The funding will support development of its leading antibody AntiBKV, which is designed to neutralise BK virus infection in kidney transplant recipients.
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