Source - Alliance News

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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Baillie Gifford China Growth Trust PLC, up 6.3% at 287.57 pence, 12-month range 257.50p 506.00p. The investor, with stakes in Chinese technology firms such as Alibaba and Tencent, tracks its investees higher. The Hang Seng Index in Hong Kong, stacked with Chinese tech shares, rises 4.0% on Friday. China’s tech stocks were on the march after a meeting in which top officials called for the ‘healthy development’ of the sector, fuelling hope among investors that a damaging state crackdown may ease. FTSE 250-listed Fidelity China Special Situations PLC is up 5.2%.

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UP Global Sourcing Holdings PLC, up 7.4% at 153.55 pence, 12-month range 123.50p-238.00p. Revenue in the six months ended January 31 climbs 14% to £85.7 million from £75.4 million a year prior, the homeware brands maker says. Pretax profit rises 36% to £9.8 million from £7.2 million. UP Global raises its interim payout by 36% to 2.3 pence per share.

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SMALL-CAP - LOSERS

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AO World PLC, down 19% at 70.60p, 12-month range 67.60p-302.80p. The online electrical retailer says it is cautious on the year ahead amid supply chain issues and a squeeze on consumer incomes. In addition, it says Founder & Chief Executive John Roberts will be selling a ‘small proportion’ of his stake. AO World expects revenue in the financial year ended March 31 to be £1.56 billion, down 6% on a year before. It expects to generate adjusted earnings before interest, tax, depreciation and amortisation of just £8 million for the year amid higher costs in its UK logistics operations, driver shortages, and higher marketing costs in Germany. Adjusted Ebitda in the 2021 financial year had been £64 million.

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Related Charts

Baillie Gifford China Growth Trust PLC (BGCG)

-4.00p (-1.75%)
delayed 16:30PM

Fidelity China Special Situations PLC (FCSS)

-4.50p (-1.85%)
delayed 16:30PM