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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Restaurant Group PLC, up 9.7% at 42.77 pence, 12-month range 25.06p-55.00p. Like-for-like sales trends at its key Wagamama division improve. In the two weeks to July 16, which form part of TRG’s third-quarter, like-for-like sales at Wagamama surge 21% on-year. Growth accelerates from 5% in the second-quarter to July 2, and 2% in the first-quarter, which ran to April 2. It opened four new Wagamama sites so far in the financial year, and they are ‘trading ahead of expectations’.
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Renewi PLC, up 4.4% at 520.00 pence, 12-month range 479.50p-853.00p. German bank Berenberg initiates coverage of the waste-to-product company at ’buy’ with a 710p price target.
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SMALL-CAP - LOSERS
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Carclo PLC, down 3.6% at 13.93p, 12-month range 9.80p-23.01p. Shares return some of Tuesday’s 12% advance on Wednesday morning. On Tuesday, the engineering solutions provider for the medical, optical and aerospace industries said it formally inked an agreement with its lender to amend banking covenants. The agreement removes a ‘going concern’ Carclo outlined in its annual report.
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