(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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Ferro-Alloy Resources Ltd, up 7.6% at 34.97 pence, 12-month range 7.10p-47.00p. The vanadium mining and processing company secures further investment of USD7 million from Vision Blue Resources Ltd. Ferro-Alloy Resources also says 2020 total revenue rises to USD2.4 million from USD1.8 million in 2019 and reports increased production of vanadium pentoxide by 56% to 237 tonnes.
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Argo Blockchain PLC, up 2.3% at 133.20p, 12-month range 3.40p-339.81p. Shares in the blockchain technology company are tracking the price of bitcoin higher as investors shrugged off the UK Financial Conduct Authority's decision to ban cryptocurrency exchange Binance, as the digital money faces growing scrutiny. The world's oldest cryptocurrency is priced at USD34,778.40 on Monday morning, up sharply from an intraday low of USD31,692.30 Friday evening. "Traders are looking at this particular event more positively and this is because more and more exchanges will begin to work within the guidelines of the regulators. This will only encourage more institutional involvement," says AvaTrade analyst Naeem Aslam.
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Harbour Energy PLC, up 2.1% at 371.50p, 12-month range 215.40p-380.00p. Barclays raises its price target on the oil and gas company to 620.00p from 30.00p and maintains Overweight rating.
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SMALL-CAP - LOSERS
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Petrofac Ltd, down 2.8% at 113.50p, 12-month range 90.66p-193.90p. The oilfield services firm says its Engineering & Construction unit has continued to be hurt by challenging market conditions. It highlights recovery in oil prices has yet to manifest itself in a significant expansion in capital spending by clients. "We continue to prudently assume that capital discipline by clients will delay some awards in the near term, with new orders likely to remain depressed in E&C in the current year," Petrofac says.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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Petrofac (PFC)
Harbour Energy (HBR)
Argo Blockchai. (ARB)