(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Tuesday.
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SMALL-CAP - WINNERS
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Stagecoach Group PLC, up 6.0% at 79.52 pence, 12-month range 63.92p-110.90p. Agrees a GBP2 billion all-share merger with National Express Group PLC. The public transport peers will form a combined group with a fleet of around 40,000 vehicles and a workforce of approximately 70,000 staff. Following completion of merger, Stagecoach shareholders will own about 25% and National Express shareholders will own around 75% of the combined group. Stagecoach has a market capitalisation of GBP438.1 million, while National Express is valued at GBP1.46 billion.
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Costain Group PLC, up 1.7% at 48.71 pence, 12-month range 46.00p-75.40p. Recovers some of Monday's 7.4% share price loss. On Monday, Costain said it is to make a GBP53.5 million payment in relation to a cancelled contract with National Grid PLC.
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SMALL-CAP - LOSERS
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Scottish Oriental Smaller Companies Trust PLC, down 1.6% at 1,136.95p, 12-month range 946.00p-1,258.64p. The company, which invests in Asian quoted equities valued at under USD5.0 billion at the time of investment, tracks Asian shares lower. Virus worries hit Asian shares on Tuesday. China's Zhejiang is grappling with a Covid outbreak with half a million people quarantining.
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By Eric Cunha; ericcunha@alliancenews.com
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Scot.orntl.smll (SST)
Costain (COST)