(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 11% at 130.86 pence, 12-month range 3.41p-325p. Shares in cryptocurrency miner rise as bitcoin price rebounds after recent struggle, trading at USD38,260 Tuesday mid-morning, according to CoinDesk, up from USD36,548 at the same time on Monday and having recently crashed to around the USD30,000 mark. Bitcoin traded above USD60,000 to fresh all-time highs in April, but has come under recent pressure over its green credentials. Late Monday, Elon Musk tweets: "Spoke with North American Bitcoin miners. They committed to publish current & planned renewable usage & to ask miners WW to do so. Potentially promising." Musk, chief executive of electric car firm Tesla, is an influential voice in the cryptocurrency space. AIM-listed Online Blockchain rises 21%.
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DWF Group, up 8.1% at 103.35p, 12-month range 45p-105.73p. Hits this 12-month higher earlier on Tuesday. The law firm says it continued to enjoy "strong activity levels" in the second half of financial year ended April 30, with revenue growth of the year of more than 13%. Adjusted pretax profit of GBP34 million exceeds market expectations by around 15%, it says, and has more than doubled on the 2020 financial year. "This week marks the first anniversary of my tenure as CEO and I am delighted with our results which show significant improvement on the prior year and a strong performance in their own right," says Chief Executive Nigel Knowles.
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SMALL-CAP - LOSERS
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Amigo Holdings PLC, down 47% at 9.94p, 12-month range 4.84p-30.3p. The guarantor loans provider says high court has not approved its scheme of arrangement to pay compensation claims. It notes this was despite an "overwhelmingly positive creditors' vote" and is now reviewing all options, including an appeal. Amigo has repeatedly said it would go insolvent and that claimants would get nothing if the scheme failed. "Amigo is incredibly disappointed that the scheme has not been approved despite the 74,877 customers who voted in support of the scheme, representing over 95% of those who voted. We are currently reviewing all our options and will provide an update at the earliest opportunity," says Chief Executive Gary Jennison.
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Speedy Hire PLC, down 4.4% at 77.4p, 12-month range 47.61p-81.59p. The tools, equipment and plant hire services company says revenue for financial year ended March 31 falls 11% to GBP363.6 million, and pretax profit slumps 41% to GBP12.3 million. Says pleased with results as revenue recovered in second half following pandemic-hit first half.
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By Lucy Heming;Â lucyheming@alliancenews.com
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