The following stocks are the leading risers and fallers among London Main Market small-caps on Tuesday.
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SMALL-CAP - WINNERS
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TClarke PLC, up 29% at 161.10 pence, 12-month range 105.00p-162.00p. The engineering services company agrees to a £90.6 million takeover from Regent Gas Holdings Ltd, a natural gas supplier and metering services provider for small, medium-sized and large firms. Regent will pay 160p per TClarke share, and shareholders also stand to receive a final dividend of 4.525p.
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Macau Property Opportunities Fund Ltd, up 3.5% at 32.60 pence, 12-month range 29.83p-62.50p. The Macau-focused property investor says it is ‘likely to benefit’ as the region eases regulatory rules in the real estate sector. Proposed amendments for the relaxation of Macau’s long-standing ‘property anti-speculation measures’ include the removal of a stamp duty levelled on all properties resold within two years after purchase. An extra 10% duty on foreign buyers is also up for removal. ‘These policy changes are welcomed by the company which is likely to benefit from an increase in interest for luxury residential properties which constitute the remainder of MPO’s portfolio exposure,’ it explains.
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SMALL-CAP - LOSERS
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Robert Walters PLC, down 6.9% at 363.00p, 12-month range 344.00p-490.00p. The recruitment firm says its first-quarter net fee income falls 21% to £81.3 million, from the prior year’s ‘strong’ comparative of £102.4 million. Chief Executive Toby Fowlston ‘In-line with the latter part of 2023, overall trading conditions remained challenging during the first quarter of 2024. Although certain macro-economic indicators, such as inflation, continue to moderate in some markets, the general environment remains one where client and candidate confidence is at low levels, which we expect to continue to be a headwind to fee income growth in the near-term.’ Robert Walters says it has cut its headcount by 13% on-year to 3,812 as of the end of March.
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