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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Tullow Oil PLC, up 8.0% at 52.38 pence, 12-month range 33.26p-66.54p. EnQuest PLC, up 6.5% at 21.75p, 12-month range 15.16p-27.49p. The oil stocks are tracking spot oil prices higher, with Brent quoted at $98.85 a barrel Tuesday morning from $95.19 late Monday. Russia’s decision to recognize two separatist regions of Ukraine and send in troops to the area was sending oil towards $100 a barrel, as EU ambassadors met to agree on sanctions against Russia. ‘Energy market is the focus among traders. Investors are wondering what kind of sanctions will be announced and if there will be any sanctions on Russian oil. Of course, this is not the mainstream view because having sanctions on Russian oil will send oil prices much higher,’ explains AvaTrade analyst Naeem Aslam.
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SMALL-CAP - LOSERS
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McBride PLC, down 11% at 42.87p, 12-month range 42.87p-96.52p. The cleaning and hygiene products maker swings to an interim loss amid a surge in costs from global supply chain pressures. For the six months ended December 31, McBride swung to a pretax loss of £16.8 million from a £13.5 million profit a year before, on revenue down 11% to £323.4 million from £362.9 million. ‘The group is experiencing the most extreme inflationary cost environment probably ever to hit this sector,’ Chief Executive Officer Chris Smith says.
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Raven Property Group Ltd, down 8.9% at 24.00p, 12-month range 23.1p-36.9p. The Russia-focused property investment company is down amid escalating tensions between Russia and the West over Ukraine.
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