The following stocks are the leading risers and fallers among London Main Market small-caps in London on Tuesday.
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SMALL-CAP - WINNERS
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JPMorgan China Growth & Income PLC, up 7.5% at 267.77 pence, 12-month range 239.5p-589p. The China-focused investor rises from recent lows as markets in Asia rally, with Hong Kong’s Hang Seng index closing up 5.2%. The rally was fuelled by speculation in China arising from unverified social media posts that a committee is being formed by Chinese policymakers to strategise on how to exit its zero-Covid policy. However, Bloomberg reported that Chinese Foreign Ministry spokesman Zhao Lijian said he is ‘not aware’ of such a committee. Fellow smallcap Asia-focused investors Invesco Asia Trust PLC and Baillie Gifford China Growth Trust PLC add 5.7% each, and Schroder Asian Total Return Investment Company PLC rises 3.2%.
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SMALL-CAP - LOSERS
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Funding Circle Holdings PLC, down 1.5% at 48.1p, 12-month range 29.68p-166.8p. Shares in the commercial lender edge lower as Goldman Sachs cuts the target price of the stock to 66p from 160p. Goldman keeps it at a ’neutral’ rating.
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