1st May 2024 10:17
(Alliance News) - 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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Videndum PLC, up 2.8% at 282.75 pence, 12-month range 260.00p-800.00p. Berenberg cuts its price target for to 450p from 500p, though it maintains its 'buy' rating. "We think on balance the thesis remains attractive," the German bank says.
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Synthomer PLC, up 1.5% at 264.00 pence, 12-month range 122.5p-864.03p. Shares are up 39% year-to-date, and a good run for the stock continues, looking set to continue its winning streak to four days. The chemicals firm on Wednesday seals the sale of its latex compounding operations to Matco NV for EUR27.5 million. "The divestment proceeds will be used to reduce group net debt," it explains.
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SMALL-CAP - LOSERS
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Wickes Group PLC, down 2.4% at 142.16p, 12-month range 116.50p-163.30p. The building supplies retailer leaves its profit outlook unchanged and it reports a like-for-like sales fall for the early weeks of 2024. Like-for-like sales in the first 16 weeks of the year fall 4.2% annually. It notes a "solid start to the year in Retail", but "challenging market conditions continue in Design & Installation". It adds: "Whilst the trading environment remains uncertain, given the solid start to the year in retail and our continued focus on costs, the overall outlook for adjusted profit before tax for 2024 remains unchanged." In March, it said it was "comfortable" with adjusted pretax profit consensus of GBP43.6 million.
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By Eric Cunha, Alliance News news editor
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