Ashoka Whiteoak Share News (AWEM)

(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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Vanquis Banking Group PLC, up 4.7% at 84.80 pence, 12-month range 37.40p-85.30p. The Bradford, England-based bank formerly known as Provident Financial hits a 12-month share price high of 85.30p on Friday, following its report on Wednesday that gross customer interest earning balances grew 1.8% to GBP2.31 billion in the three months to March 31 from GBP2.27 billion a year prior, or by 6.1% excluding the personal loan portfolio sale announced with its annual results. Net receivables increased 6.7% to GBP2.18 billion from GBP2.04 billion a year ago. Chief Executive Ian McLaughlin says on Wednesday: "Vanquis' strategic delivery remains on track. The group returned to profitability and grew gross customer interest earning balances, building on the momentum shown during 4Q 2024." He adds: "Operating costs remained well controlled and credit quality was robust, with our customers continuing to show financial resilience."

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SMALL-CAP - LOSERS

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Ashoka WhiteOak Emerging Markets Trust PLC, down 1.5% at 126.06p, 12-month range 102.00p-127.12p. The investment trust focused on global emerging markets says its net asset value is down 2.3% in April, underperforming against its benchmark, the MSCI EM index, which is down 2.1%. Key contributors to Ashoka's return are Polish employee wellbeing services provider Benefit Systems, up 13%, and Polish laboratory diagnostics services provider Diagnostyka, also up 13%. Its key detractors include Chinese e-commerce firm Alibaba, down 11%, Indian CDMO service provider OneSource, 9.2% lower, and Taiwanese electronic paper firm E Ink Holdings, down 16%. Its benchmark outperforms other global industries, however, including the S&P 500 which is down 4.0% and the MSCI World, down 2.4%, in the same period.

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Rank Group PLC, down 0.7% at 118.00p, 12-month range 63.60p-124.00p. Shares in the Maidenhead, England-based casino operator are down following a 19% rise over the past five days and a 41% jump over the past month. Rank on Wednesday says it expects to add 882 gaming machines to its current Grosvenor estate of 1,367 machines over the coming months, following the UK government's publication of three statutory instruments to enable land-based casino reforms in its review of the 2005 Gambling Act. The instruments identify July 22 as the date on which the number of gaming machines permitted in casinos will be increased, as well as when the opportunity to provide sports betting will be allowed in casinos in England and Wales. Rank says the total opportunity within its current estate is 3,112 machines, which requires investment into its casinos that it anticipates gradually completing over the next two to three years. The group intends to engage with government officials in Scotland for the reform of its Scottish casinos. Rank will release its full-year results for the year that ended June 30 on August 14.

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By Emily Parsons, Alliance News reporter

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