(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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Ted Baker PLC, up 7.3% at 74.60 pence, 12-month range 69.02p-174.40p. The retailer recovers from a 6.1% share price fall on Tuesday as the mood in equity markets improves. The stock had hit a 12-month low on Tuesday.
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Ten Entertainment PLC, up 4.9% at 223.00 pence, 12-month range 197.00p-285.01p. The ten-pin bowling operator says sales during the 26 weeks to June 26 were 53% above pre-virus levels. It affirms plans to repay financing received as part of the UK's Coronavirus Large Business Interruption Loan Scheme this month, allowing Ten to resume dividends. Peer Hollywood Bowl Group PLC rises 6.4% in a positive read-across.
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SMALL-CAP - LOSERS
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AO World PLC, down 6.1% at 44.15p, 12-month range 43.88p-250.00p. The electrical goods retailer slides again and is down 35% so far this week. Wednesday's slide stems from a fundraise. AO World said it plans to raise GBP40 million through a placing to "strengthen" its balance sheet and restore liquidity to "historic levels". AO World will price its placing at 43 pence per share, an 8.5% discount to Tuesday's closing price of 47.0p. The electrical goods seller on Monday had said its financial position was "in line with the board's expectations". AO had confirmed in a statement on Monday that it was aware that one of the third-party credit insurers which provides credit insurance to some of its suppliers had rebased their cover in May with respect to AO, reflecting post-Covid sales levels. It followed a report in the Sunday Times which stated that Atradius, a credit insurer, cut its credit cover for the online retailer's suppliers.
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By Eric Cunha; ericcunha@alliancenews.com
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