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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Capita PLC, up 21% at 18.69 pence, 12-month range 12.40p-29.70p. The outsourcing and professional services company says it has agreed to sell its standalone software business, via the sale of Capita One by Capita Business Services, to Orchard Information Systems. The deal values Capita One at £200 million. ‘Capita One provides local authorities, local education authorities and housing associations with revenues and benefits, social housing management and education management software. It helps local authorities drive efficiency, maximise revenue collection, and deliver essential public services as cost effectively as possible,’ Capita explains. It says the sale follows an evaluation carried out by Capita, which identified activities that are not core to its future strategy.
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SMALL-CAP - LOSERS
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Trifast PLC, down 5.5% at 69.00p, 12-month range 65.80p-97.62p. Shares in the industrial fastenings firm continue to fall. In the year-to-date, the stock is down 22%. Last week, Trifast delayed its annual results into August, saying auditors BDO requires additional time to complete the audit. Trifast said the results will be in line with the previous guidance provided in January, including revenue of £230 million, which would be down slightly from £238.5 million in financial 2024. Back in April, Trifast had warned of ‘subdued demand’ in its end-markets.
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ITM Power PLC, down 2.6% at 57.82p, 12-month range 42.90p-99.00p. JPMorgan puts the designer and manufacturer of electrolyser systems on ’negative catalyst watch’. It cuts its rating on the stock to to ’neutral’ from ’overweight’, with a 90p price target, down from 130p.
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