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(Alliance News) - 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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Argo Blockchain PLC, up 10% at 94.90 pence, 12-month range 13.50p-339.81p. The cryptocurrency miner is tracking the price of bitcoin higher. The world's oldest cryptocurrency is priced at USD48,668.40 on Tuesday morning, up from USD45,861.10 at the same time on Monday. "Bulls are back as the Bitcoin price was flirting with the 200-day simple moving average on the daily time frame. There is no doubt that Bitcoin price is oversold, and we have seen an intense sell-off for the past number of weeks. But the fact that the price is bouncing back up from the 200-day SMA is positive news, but it will only remain as a positive sign if the price continues to stay above this price level," says AvaTrade's Naeem Aslam.
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Foxtons Group PLC, up 5.1% at 40.20p, 12-month range 37.97p-75.80p. The estate agent has promoted Chris Hough to chief financial officer and executive director after current CFO Richard Harris leaves to take up the same role at FTSE 250-listed Rank Group PLC. Rank shares are up 2.3%.
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SMALL-CAP - LOSERS
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Nostrum Oil & Gas PLC, down 41% at 3.84p, 12-month range 2.82p-15.50p. Shares hit 12-month low after the oil and gas company confirms its in talks with an ad hoc noteholder group with the aim of reducing its indebtedness and lowering cost of funds. Nostrum notes press reports on the terms of a potential restructuring of the company's USD725 million 8.0% notes due July 2022 and its USD400 million 7.0% senior notes due February 2025. The discussions with the noteholder group on the proposed note restructuring, includes a reduction in financial indebtedness and implementing a debt for equity swap, which would lead to existing shareholders having a significantly reduced stake in Nostrum's share capital.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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