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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Petrofac Ltd, up 12% at 22.04 pence, 12-month range 14.58p-91.05p. The provider of services to the energy industry extends recent gains, rising 42% since the start of the week. It said Monday it is mulling a ‘range of strategic and financial options’ to strengthen its balance sheet, as it warned it would not meet its annual cash flow guidance following payment delays.
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Petra Diamonds Ltd, up 2.0% at 51p, 12month range 387p-104p. The Southern Africa-focused diamond miner and supplier said South African firm Absa Bank, which is part of Absa Group Ltd, has approved the increase to its revolving credit facility to $93 million from $53 million. It also reports growth in diamond sales in its most recent tender. Says 462,794 carats sold in tender 3 of the financial year ending June 30 for a total of $58.7 million, representing a 4.2% increase from 444,029 carats sold in tender 2 for $40.5 million. Meanwhile, the price was up by 20% on a like-for-like basis.
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SMALL-CAP - LOSERS
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MJ Gleeson PLC, down 1.3% at 437.25p, 12-month range 331p-475p. The housebuilder and land investor’s price target is cut to 550p from 575p previously by the Royal Bank of Canada, though the bank maintains its ’outperform’ rating for the stock.
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