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(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday.
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SMALL-CAP - WINNERS
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Pendragon PLC, up 11% at 19.07 pence, 12-month range 14.85p-29p. The automotive retailer reports a "very strong" first quarter performance across all divisions, prompting Jefferies to up its price target to 36p from 35p, while Berenberg raises its target to 29p from 28p - both brokers maintaining their 'buy' recommendation. Pendragon says underlying pretax profit was up 23% year-on-year to GBP23.0 million. It now expects to "comfortably outperform" the board's previous expectations for its full year. "There are encouraging signs of improvement in production and supply of new vehicles, although used vehicle supply is expected to remain tight for the foreseeable future," it notes. Fellow small-cap second-hand car retailer Motorpoint PLC rises 5.5% in a positive readacross.
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SMALL-CAP - LOSERS
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On The Beach PLC, down 4.7% at 144.13p, 12-month range 88.8p-251.95p. The beach holiday retailer's stock falls as US investment bank Stifel cuts the stock to 'sell' from 'hold', cutting the price target to 120p from 140p.
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Hochschild Mining PLC, down 3.9% at 89p, 12-month range 50.4p-142.88p. The Americas-focused silver and gold miner falls as the price of gold falls. Gold was quoted at USD1,979.58 shortly after 1000 BST, down 1.5% from USD2,004.13 at the market close in London on Tuesday. FTSE 100-listed gold miners such as Fresnillo PLC and Antofagasta PLC fall 4.1% and 2.8% respectively.
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By Elizabeth Winter, Alliance News senior markets reporter
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