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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Capital Ltd, up 9.0% at 85 pence, 12-month range 74p-118p. The mining services company reports the largest contract award in the history of a majority-owned subsidiary. MSALabs, a geochemical laboratory services provider, wins a contract worth $140 million over five years, with annual revenue of $30 million once fully operational. The contract is for comprehensive lab services with Nevada Gold Mines in the US. ‘This long-term contract entrenches MSALabs presence in the Americas, both operationally given the full suite of services across preparation, PhotonAssay, fire assay and multi-element chemistry at a major operation, and also geographically, expanding its footprint in the Americas from its multiple laboratories across Canada and South America,’ Capital says.
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Petrofac Ltd, up 12% at 35.60 pence, 12-month range 14.58p-91.05p. The energy infrastructure firm adds to Wednesday’s gains, having closed up 42%. It had announced that it has seen ‘exceptional’ new order intake across Engineering & Construction and Asset Solutions, totalling $6.8 billion in 2023 so far. It expects the backlog to be around $8.0 billion by the year. It also announced the second contract award under the six-project $14 billion framework agreement with TenneT, working alongside Hitachi Energy, with Petrofac’s portion of the contract worth around $1.4 billion.
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SMALL-CAP - LOSERS
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Artemis Alpha Trust PLC, down 5.5% at 323.30p, 12-month range 260p-355p. The investment trust focusing on the UK reports that its net asset value per share was 327.14p at the end of October, down 9.6% over the prior six months. Over the same period, the FTSE All-Share index fell 5.9%, though the FTSE 250 ‘which more closely resembles [Artemis Alpha Trust’s] portfolio’ fell 11%. ‘During the half-year, we suffered from our overweight exposure (comprising about half the portfolio) to UK domestic equities where weak sentiment still prevails. However, the manager remains confident that these conditions offer the prospect of attractive future returns from the portfolio,’ the firm explains.
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