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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capAI PLC, up 33% at 0.49 pence, 12-month range 0.037p-0.94p. The firm, with a focus on artificial intelligence systems for media and medicine, reports the incorporation of a US unit capMedia Inc. It will support the ‘broader media-focused activities’ in the US. ‘The incorporation of capMedia Inc in the State of Delaware represents an operational milestone in the strategic development of the company’s media division, known as capMedia,’ capAI says.
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Cobra Resources PLC, up 19% at 2.38p, 12-month range 0.80p-2.40p. Cobra is encouraged by results of a drilling programme at the Boland rare earths project in Australia. Drilling confirms ‘enrichment’ of dysprosium and terbium, ‘in demand’ rare earths. Dysprosium has applications in magnets that are key to electric vehicle motors, while terbium can be used as a component in lighting and displays. Cobra notes ‘two zones of high grade’ mineralisation have been found in the drilling.
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SMALL-CAP - LOSERS
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Macfarlane PLC, down 16% at 98.00p, 12-month range 93.20p-131.00p. The packaging firm now expects adjusted operating profit to fall 10% in 2025, a year of ‘challenge and economic uncertainty’. ‘Distribution is experiencing weaker than expected demand, delays in new business decision making, pressure on gross margin due to the competitive environment, rising input prices and slower than anticipated recovery of labour and property-related cost increases,’ it said. ‘Manufacturing Operations is performing robustly with good momentum with our aerospace and defence related customers and the benefit of the Polyformes acquisition, marginally offset by the slowdown in those sectors where customers are being impacted by uncertainty over US tariffs.’
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Hostelworld Group PLC, down 10% at 127.00p, 12-month range 105.00p-160.00p. The online travel agent focused on the hostel market expects to report weaker interim profit and flat revenue. Adjusted earnings before interest, tax, depreciation, and amortisation of €7.4 million are expected for the first half of 2025, down from €9.6 million a year prior. Net revenue of €46.7 million, flat on-year, is expected. ‘While European bed prices have seen some deflation, this is helping to stimulate demand. Despite a continuation of the trend for low-cost destinations in the first half, we are seeing an improving geographic mix, supported by a pickup in European demand. Marketing as a percentage of revenue increased year-on-year, primarily driven by cost inflation in the first few months (which has since moderated) and the growth of paid channels as a proportion of total web channels,’ Chief Executive Officer Gary Morrison says. Irish broker Davy labels it an ‘underwhelming start to the year’.
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