The following stocks are the leading risers and fallers among London Main Market small-caps on Thursday.
----------
SMALL-CAP - WINNERS
----------
Asos PLC, up 16% at 427.60 pence, 12-month range 328.84p-465.50p. The online fashion retailer will sell three-quarters of its ownership in Topshop and Topman to Danish firm Heartland by forming a 75:25 joint venture. Asos will get £135 million for its stake in the two brands, which have not operated physical shops since they came under the online shop’s umbrella several years ago. It said it will also have the right to sell a further 5% in the brands for £9 million at a later date, as part of the deal. Heartland owns clothing retailer Bestseller, and also holds a significant stake in Asos.
----------
SMALL-CAP - LOSERS
----------
Chesnara PLC, down 1.4% at 255.33p, 12-month range 240.00p-289.50p. The Preston, England-based insurance company and pension consolidator’s shares fell ahead of the publication of its half-year results on September 10. In March, the group reported pretax profit of £1.3 million in 2023, swung from a pretax loss of £62.1 million the year before. It also posted a 1.3% rise in insurance revenue to £228.0 million from £225.1 million a year prior. At the time, Chesnara said it expected more positive signs for a return to normality regarding macro-economic conditions. In the year-to-date, Chesnara’s shares are down 3.1%.
----------
Copyright 2024 Alliance News Ltd. All Rights Reserved.
