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SMALL-CAP WINNERS & LOSERS: French Connection takeover; Renewi upgrade

Mon, 04th Oct 2021 11:04

(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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French Connection Group PLC, up 18% at 28.2 pence, 12-month range 5.74p-32.11p. Agrees takeover bid by a consortium that includes its second-largest shareholder, seven months after the fashion brand put itself up for sale, with Founder & Chair Stephen Marks announcing he will step down once the deal concludes. French Connection has recommended a bid from MIP Holdings Ltd that values it at GBP29 million. The 30 pence per share offer is a 92% premium to French Connection's share price on February 4, before it entered an offer period.

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Renewi PLC, up 9.9% at 657.00p, 12-month range 203.5p-668p. The waste-to-product firm says it performed "strongly" in first half, with increased volumes, better prices and cost management helping to support better-than-expected trading. Like-for-like revenue in first five months more than 10% above a year ago and up 7% on pre-pandemic levels. "The strong performance in the first half and positive trading outlook have led the board to materially increase its expectations for the full year ending 31 March 2022. Longer term, the transition to increased recycling will continue to support our business model," it says.

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SMALL-CAP - LOSERS

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JPMorgan China Growth & Income PLC, down 2.8% at 495.82p, 12-month change 487.8p-875.98p. The investor, focused on mainland China, Taiwan and Hong Kong, slips as markets in Hong Kong tank on Monday amid more Evergrande worries. The embattled property titan suspended trading in its shares in Hong Kong on Monday pending an announcement on a "major transaction", as the firm struggles in a sea of debt and faces a default. Officials at the firm have been struggling to deal with a crisis that has left it more than USD300 billion in debt, fuelling fears of a contagion for the wider Chinese economy that some warn could spread globally.

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By Lucy Heming; lucyheming@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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2 Feb 2017 16:33

UPDATE 1-Sports Direct in talks to bid for Bob's, Eastern Mountain Sports -sources

(Adds details of French Connection stake purchase, background) By Jessica DiNapoli Feb 2 (Reuters) - Struggling British sportswear retailer Sports Direct is in talks to bid for Eastern Outfitters LLC, the parent of U.S. discount chain Bob's Stores and outdoor retailer Eastern Mountain

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2 Feb 2017 11:51

Sports Direct bags stake in French Connection

(ShareCast News) - Mike Ashley's Sports Direct International has snapped up an 11% stake in French Connection Group. The sporting good retailer took out a contract for difference over 10.7m shares, or 11.156%, of the fashion retailer's shares, it reported on Thursday just before noon. Ashley has a

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25 Oct 2016 05:41

PRESS: French Connection Founder Denies Bidder Interest - Reuters

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24 Oct 2016 16:51

UPDATE 4-French Connection chief says nothing behind report of possible bid interest

* Private equity, retail investors interested - Telegraph * Marks says "no comment as there's no story" * Company worth about 36 mln stg as of Monday's close * Shares rise as much as 20.6 pct (Adds Neuberger Berman declined to comment, share close, updates market value)

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24 Oct 2016 09:27

Retailer French Connection shares jump on M&A report

By Noor Zainab Hussain and Esha Vaish Oct 24 (Reuters) - Shares in fashion retailer French Connection Group Plc rose more than 20 percent on Monday after a media report said overseas investors were looking to buy the British firm that has posted four year of losses. The Telegraph repo

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23 Oct 2016 15:02

Sunday newspaper round-up: GDP, RBS, Anglo, William Hill, bank exit

(ShareCast News) - In the first official reading on how the whole UK economy has performed since the Brexit vote, the Office for National Statistics (ONS) is expected to say growth more than halved from 0.7% in the second quarter to 0.3% between July and September. According to economists polled by

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20 Sep 2016 16:13

UPDATE 2-French Connection investor urges retailer to step up turnaround plan

* Run of pretax losses continued in first half * Shares drop 9.4 percent; down 90 pct from 2004 highs * Activist investor calls for more store closures (Recasts, adds investor, analyst and COO comment, share price) By Rahul B Sept 20 (Reuters) - Activist investor Gatemor

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20 Sep 2016 06:30

UK retailer French Connection's H1 revenue falls 8.7 pct

Sept 20 (Reuters) - British fashion retailer French Connection Group Plc reported a 8.7 percent slide in first-half revenue as it shut more stores. The company reported a pretax loss of 7.9 million pounds ($10.29 million) for the six months ended July 31, unchanged from last year. Re

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28 Aug 2016 13:45

Sunday newspaper round-up: Sterling, PMIs, May's Brexit talks, GSK, Sports Direct

(ShareCast News) - Hedge funds and other speculators have cranked up bets against the pound to their highest-ever level as sterling rises close to a three-week high. Short positions on the pound worth $7.8bn (£5.9bn) were racked up last week - the largest ever, according to US data used by the Sunda

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1 Aug 2016 06:43

Monday newspaper round-up: Banks, BoE, Morrison's, BT

(ShareCast News) - Britain's top bank bosses believe an interest rate cut this week is not the best way to boost the economy, arguing instead for alternative options such as investment incentives. Markets are almost certain that the Bank of England will cut its base rate from 0.5pc to 0.25pc this Th

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5 May 2016 15:13

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17 Mar 2016 10:55

UPDATE 2-New stores, fashions boost Ted Baker's profit

* Full-year pretax profit up 18.6 pct * Company opened stores in Azerbaijan, Mexico, Qatar * Initial reaction to spring/summer collections "positive" * Raises total dividend to 47.8 pence (Adds finance director comments, details, share price) By Aastha Agnihotri Ma

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15 Mar 2016 12:51

UPDATE 2-French Connection losses grow as spring fashions underwhelm

* FY 2015 underlying operating loss 4.7 mln stg * Co cites "poor performance" of spring, summer collections * Co brings back FCUK logo, makes two appointments * Shares slump as much as 11.7 pct (Adds details, comments, updates share price) By Aastha Agnihotri March

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15 Mar 2016 09:47

French Connection full year loss widens

(ShareCast News) - Full year operating losses at retailer French Connection widened on the back of a disappointing trading performance in the first half of the year as the spring collection failed to impress. For the year ended 31 January 2016, the underlying operating loss came in at £4.7m compared

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15 Mar 2016 08:43

French Connection Loss Widens; Poaches Finance Director From ASOS

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