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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GCP Asset Backed Income Fund Ltd, up 5.5% at 60.58 pence, 12-month range 54.00p-95.00p. The company has agreed terms for a tie-up with GCP Infrastructure Investments Ltd. The GCP Infrastructure and GCP Asset Backed Income combination will be conducted through a contractual scheme of reconstruction, resulting in a solvent winding-up of the latter. GCP Asset Backed Income assets will be transferred to GCP Infrastructure in exchange for new shares. GCP Asset Backed invests in medium to long-term fixed or floating rate loans, secured against physical assets or cash flows.
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ICG-Longbow Senior Secured UK Property Debt Investments Ltd, up 1.6% at 36.10 pence, 12-month range 32.90p-62.00p. The investor in UK real estate debt will return 7.40 pence per share to shareholders, around £9.0 million in total. This follows further partial repayments of the Northlands loan, with receipts since January 31 now at around £9 million.
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SMALL-CAP - LOSERS
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Regional REIT Ltd, down 3.1% at 44.45p, 12-month range 42.65p-77.00p. The commercial property sector struggles over fears of what more Bank of England rate hikes could mean for the market. A better-than-expected UK gross domestic product reading on Friday suggests the can afford to hike further to get inflation down faster. FTSE 100-listed Land Securities Group PLC falls 1.4%, while FTSE 250 constituent British Land Co PLC is down 4.4%.
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