The following stocks are the leading risers and fallers among London Main Market small-caps on Thursday.
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SMALL-CAP - WINNERS
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Renewi PLC, up 1.6% at 475 pence, 12-month range 446.5p-774p. The Milton Keynes, England-based waste management company’s stock is started with a ’buy’ rating by investment bank Panmure, with a price target of 830p.
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Sabre Insurance PLC, up 2.6% at 155.8p, 12-month range 80.77p-166p. The motor insurance underwriter rises as Barclays raises its target price to 154p from 140p, maintaining its ’overweight’ rating for the stock.
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SMALL-CAP - LOSERS
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Severfield PLC, down 3.2% at 60.58p, 12-month range 46.65p-76.2p. The structural steel company extends Wednesday’s losses after warning of ongoing delays in converting its pipeline of opportunities. It blamed this on persistent high inflation and rising interest rates, as clients wait for economic stability. It said these factors informed Sunset Studios’ decision to pause construction on its planned new film production base in Hertfordshire, and Severfield removed that contract from its order book in July. Nevertheless, Severfield had said trading in the first five months of the year was in line with its expectations, and it expects to deliver further progress. Its shares are down 12% over the past week.
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