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(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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GCP Asset Backed Income Fund Ltd, up 5.5% at 60.58 pence, 12-month range 54.00p-95.00p. The company has agreed terms for a tie-up with GCP Infrastructure Investments Ltd. The GCP Infrastructure and GCP Asset Backed Income combination will be conducted through a contractual scheme of reconstruction, resulting in a solvent winding-up of the latter. GCP Asset Backed Income assets will be transferred to GCP Infrastructure in exchange for new shares. GCP Asset Backed invests in medium to long-term fixed or floating rate loans, secured against physical assets or cash flows.
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ICG-Longbow Senior Secured UK Property Debt Investments Ltd, up 1.6% at 36.10 pence, 12-month range 32.90p-62.00p. The investor in UK real estate debt will return 7.40 pence per share to shareholders, around GBP9.0 million in total. This follows further partial repayments of the Northlands loan, with receipts since January 31 now at around GBP9 million.
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SMALL-CAP - LOSERS
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Regional REIT Ltd, down 3.1% at 44.45p, 12-month range 42.65p-77.00p. The commercial property sector struggles over fears of what more Bank of England rate hikes could mean for the market. A better-than-expected UK gross domestic product reading on Friday suggests the can afford to hike further to get inflation down faster. FTSE 100-listed Land Securities Group PLC falls 1.4%, while FTSE 250 constituent British Land Co PLC is down 4.4%.
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By Eric Cunha, Alliance News news editor
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