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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Anglo-Eastern Plantations PLC, up 4.3% at 830.00 pence, 12-month range 553.58p-930p. Says crude palm oil production was down 6.6% at 107,300 tonnes in first quarter to March 31 compared to 114,900 tonnes a year before. However, CPO price ex-Rotterdam averaged $1,592 per tonne in the period, up 48% year-on-year. Notes prices have risen further since, to close at $1,780 per tonne on May 6. ‘The move by the Indonesian government to ban the export of CPO and refined palm oil from 28 April 2022 has literally cut off the largest supply of global vegetable oil. The ban has since driven up global edible oil prices as supplies were already choked by factors like drought in South America and the war in Ukraine. However, as expected by industry experts, the Indonesian government announced yesterday that the ban will be lifted with effect from 23 May,’ Anglo-Eastern explains.
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JPMorgan China Growth & Income PLC, up 3.0% at 345.68p, 12-month range 295.5p-730p. The greater China-focused investor tracks gains in Asia, with the SSE Composite Index in Shanghai closing up 1.6% and Hang Seng in Hong Kong rising 3.0%, after China on Friday announced it will cut a key interest rate in a boost to home buyers and debt-mired developers. The five-year loan prime rate – on which many lenders base their mortgage rates – was trimmed to 4.45% from 4.60%, China’s central bank said. The haircut to the LPR was greater than the market expected, analysts said, as China’s planners try to inject life into a slowing economy.
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