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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Superdry PLC, up 15% at 38.88 pence, 12-month range 14.26p-135.80p. The clothing retailer’s stock rises as a report suggests a US investment firm is in talks to buy the embattled retailer. On Monday, Sky News said Davidson Kempner, the New York-based investment management firm, is in discussions with Julian Dunkerton about backing an offer for Superdry. Sky said that the talks add the US investor, which has backed baby clothing retailer Jojo Maman Bebe and furniture retailer Oak Furnitureland, and previously held a slug of debt in New Look, to a list of firms examining Dunkerton’s proposals.
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NB Global Monthly Income Fund Ltd, up 6.8% at 74p, 12-month range 65p-80.22p. The creditor investor plans to distribute £23.0 million to shareholders via a partial compulsory redemption of its shares on March 4. NB Global invests in traditional credit, such as bonds and loans, and in alternative credit, such as distressed credit and mezzanine. ‘The company’s investment objective is to realise all existing assets in the company’s portfolio in an orderly manner. The company is pursuing its investment objective by effecting an orderly realisation of its assets and making timely returns of capital to Shareholders, by way of several capital distributions,’ it explains. Since January 27, NB Global notes there have been five compulsory redemptions amounting to over £143 million in shareholder distributions.
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SMALL-CAP - LOSERS
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Petra Diamonds Ltd, down 12% at 37.95p, 12-month range 36.1p-84p. The diamond miner shares a disappointing set of interim results amid ‘diamond market uncertainty’. In the six months to December 31, revenue falls to $187.8 million from $208.5 million a year before, as Petra swings to a loss before tax of £15.9 million from £2.8 million profit. ‘Whilst we believe that prices have now bottomed, we expect pricing to recover more slowly than initially thought,’ warns CEO Richard Duffy, adding: ‘We continue to see a supportive market in the medium to longer-term.’
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