The following stocks are the leading risers and fallers among London Main Market small-caps on Friday.
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SMALL-CAP - WINNERS
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Mears Group PLC, up 5.3% pence, 12-month range 253p-282.42p. The housing and social care provider says it has seen strong trading in the first five months of its financial year, with ‘continued elevated revenues, improving operating margins and excellent cash performance’. As a result of this ‘continued strong momentum’, the board expects full year profits to be materially ahead of current market expectations. It didn’t specify what these were.
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AO World PLC, up 3.9% at 83.99p, 12-month range 67.45p-84.95p. Frasers Group PLC, the owner of the House of Fraser, Sports Direct and Flannels retail chains, increases its stake in the online electricals retailer to 21% on Thursday, from 19% previously. Frasers last week Friday bought a 19% stake, from none before. Frasers earlier this week said the initial investment was the ‘culmination of productive talks over the last two years about establishing a strategic partnership’.
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SMALL-CAP - LOSERS
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Anglo-Eastern Plantations PLC, down 7.6% at 730.18p, 12-month range 714p-820p. The producer of palm oil and rubber across Indonesia and Malaysia reports a lower production of fresh fruit bunches, producing 420,300 metric tonnes of fresh fruit bunches in the five months to May 31, down 5.3% from 443,800mt a year before. In addition, it notes the decline in the price of crude palm oil due to lower demand caused by competition from sunflower and canola oil. Says average crude palm oil ex-Rotterdam price as at May 31 plummeted 39% to $1,006 per metric tonne from $1,650 a year ago. It declined further to $890 as at June 2, down 16% from the end of May price. Warns crude palm oil prices are likely to fall further as production rises in the second half of the year.
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