(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.
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SMALL-CAP - WINNERS
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Arrow Global Group PLC, up 9.6% at 296.00 pence, 12-month range 60p-299p. Says discussions with TDR Capital LLP ongoing and 'put up or shut up' deadline extended to March 23. Says TDR on February 22 made revised proposed of 307.5p per share, and the board of Arrow has confirmed to TDR it is minded to recommend a firm offer at this price. TDR on February 8 made a 305p approach. There can be no certainty that a firm offer will be made, cautions Arrow.
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McKay Securities PLC, up 6.3% at 210.00p, 12-month range 136-264.35p. The real estate investor focused on the south east and London office, industrial and logistics markets says it has made "good progress" since October. From start of October to March 5, McKay comples eight new lettings, delivering a combined contracted rent of GBP432,900 per year, with six lease renewals completed. Positive discussions with occupiers resulted in an increase in December quarter rent collected to 92%, with further 2% due from agreed monthly payments. Talks continue over remaining 6%. Adds it has launched a GBP10 million share buyback.
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SMALL-CAP - LOSERS
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JPMorgan China Growth & Income PLC, down 9.1% at 554.00p, 12-month range 284.5p-875.98p. The investor focused on the greater China region was tracking falls in Asia overnight, with the SSE Composite index in Shanghai falling 2.3% and the Hang Seng in Hong Kong falling 1.9%. "Hurting sentiment in Asia is China media Yicai - controlled by Shanghai city government - has published a front-page commentary saying that as the PBoC normalizes monetary policy this year, it's unlikely that benchmark rates or the reserve requirement ratio will be cut again for banks, while less credit and stabilization of leverage will be the main policy theme in 2021, citing onshore experts in interpreting NPC work report," says Axi's Stephen Innes. Baillie Gifford China Growth Trust falls 5.9%.
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Equiniti, down 1.4% at 142.6p, 12-month range 96p-197.6p. The financial administration outsourcer agrees to sell the EQi direct-to-consumer business of Equiniti Financial Services to interactive investor for GBP48.5 million. Equiniti says the sale of the business to ii, already one of the largest share trading platforms in the UK, is expected be completed by the summer. It will receive GBP47.5 million in cash on completion and up to a further GBP1.0 million contingent on the timing of migrating customers onto the ii platform.
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By Lucy Heming; lucyheming@alliancenews.com
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