10th Feb 2023 10:24
(Alliance News) - 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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Saga PLC, up 4.2% at 178 pence, 12-month range 71.1p-329.6p. The company confirms it is in exclusive discussions with Australia's Open Insurance Technologies about a potential sale of Acromas Insurance, the underwriter of Saga's wider insurance business. Sky News had reported that Open is raising capital to fund the potential deal. Late last month, Saga confirmed it was seeking buyers for the underwriting business, confirming a report by the Sunday Times.
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SMALL-CAP - LOSERS
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Lookers PLC, down 1.5% at 90.2p, 12-month range 59.70p-101.6p. The car retailer falls as new figures show sales of used cars declined by 8.5% in the UK last year The Society of Motor Manufacturers & Traders said just 6.9 million vehicles changed hands in 2022, down from 7.5 million during the previous 12 months. The industry body said a squeeze on the supply of new cars restricted the amount of stock entering the second-hand market.
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JPMorgan China Growth & Income PLC, down 2.3% at 381.83p, 12-monrh eange 239.5p-464p. The Hong Kong-focused investor falls as the Hang Seng index closes down 2.0%. Its largest holding, Tencent Holdings Ltd, loses 3.1%.
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By Elizabeth Winter, Alliance News senior markets reporter
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