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(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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Restaurant Group PLC, up 3.5% at 46.06 pence, 12-month range 25.02p-56.6p. The operator of around 400 restaurants and pub restaurants across the UK, including Wagamama, has its stock raised to 'buy' from 'hold' by Deutsche Bank. The German bank also raises the target price to 56.50p from 42p previously. Deutsche's Harishankar Ramamoorthy says the bank believes the company is "at the end of the downgrade cycle", noting continuing like-for-like growth across the restaurant industry.
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Phoenix Spree Deutschland Ltd, up 2.5% at 200.89p, 12-month range 181p-355p. The Berlin, Germany-based residential real estate investor proposes to cap all ongoing fees to its advisor, QSix, to EUR5.0 million, other than a new disposal fee and any asset and estate management performance fee. The cap would start from July 1 for a 12-month period. Will let shareholders vote on the proposal at its annual general meeting. "[The proposal] should ensure closer alignment of the property advisor's incentives with the company's short-term strategic priorities and in practice will likely result in a lower level of fees being paid over the next 12 months than under the existing term," says Chair Robert Hingley.
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SMALL-CAP - LOSERS
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Capita PLC, down 1.4% at 34.45p, 12-month range 22.2p-44.92p. The process outsourcing and professional services company edges lower, but gains 5.1% over the past week. Capita will join the FTSE 250 index from June 19.
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By Elizabeth Winter, Alliance News senior markets reporter
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