SMALL-CAP WINNERS & LOSERS: Retailers rise on possible UK VAT cut

Tue, 30th Aug 2022 11:23

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Tuesday.

----------

SMALL-CAP - WINNERS

----------

Made.com Group PLC, up 11% at 8.76 pence, 12-month range 7.73p-180p. Shares in the online furniture seller lead Tuesday's advance for London-listed retailers, shaking off cost-of-living concerns. AO World rises 6.5%, Superdry is up 5.1% and DFS Furniture up 4.2%. Tory leadership hopeful Liz Truss's camp says she will not finalise her plans for crucial cost-of-living support before receiving the "full support and advice" only available to the government of the day. Over the weekend, the foreign secretary's team said she is leaning towards targeted support over help for all, but maintained she is not "ruling anything out", while it was also reported she is considering slashing VAT by five percentage points across the board. The UK VAT rate currently is 20%. It was raised to that level from 17.5% back in 2011.

----------

SMALL-CAP - LOSERS

----------

Cineworld Group PLC, down 5.4% at 2.17p, 12-month range 1.80p-85.16p. The cinema operator continues downwards trend, with shares now down 93% since the start of 2022. The Picturehouse cinema operator last week warned it is considering filing for Chapter 11 bankruptcy in the US, as it continues to battle with liquidity issues.

----------

By Lucy Heming; lucyheming@alliancenews.com