The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday.
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SMALL-CAP - WINNERS
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Cineworld Group PLC, up 6.0% at 2.86 pence, 12-month range 1.80p-85.16p. The stock rises in a positive read across after decent half-year results from fellow picturehouse operator Everyman Media Group PLC. Everyman shares were up 3.0%. Its revenue in the six months to June 30 jumps to £40.7 million from £7.7 million in Covid-hit first half of 2021. Everyman’s pretax loss narrows annually to £798,000 from £9.2 million.
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Amigo Holdings PLC, up 4.6% at 3.98 pence, 12-month range 1.63p-15.00p. The company is finalising planning for a pilot scheme as it looks to return to lending. It will also look to secure £40 million from a capital raise, a mandated part of a customer redress scheme, come May next year. Amigo says it expects to meet the initial redress scheme contribution of £97 million.
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SMALL-CAP - LOSERS
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AO World PLC, down 7.2% at 41.12p, 12-month range 37.22p-235.00p. Shares in the electrical good retailer slide as investors fret over the possibility of more UK rate hikes, which could hit consumer confidence and discretionary spend. US investment bank Goldman Sachs on Tuesday predicted the Bank of England will enact two 100 basis point rate hikes before the end of the year.
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Saga PLC, down 8.8% at 92.85p, 12-month range 91.08p-372.40p. The stock extends its losses after a 24% slide on Tuesday. On Tuesday, the provider of insurance, cruises and package holidays to over 50s lowered annual guidance and reported a swing to loss. It swung to a a £257.5 million pretax loss in the half-year ended July 31, from a £700,000 profit a year earlier. Saga said it booked a £269.0 million impairment of insurance goodwill. The hit is due to a weaker outlook for future motor and home margins. For the whole financial year, Saga lowered guidance for underlying pretax profit to a range of £20 million to £30 million from a previous range of £35 million and £50 million.
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