(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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XPS Pensions Group PLC, up 9.2% at 220.6 pence, 12-month range 117p-224.06p. The pensions consulting and administration firm says strong trading momentum has continued into the six months ended September 30, its half-year period. Cites strong demand across all services, new clients, and inflation-linkage of contracts across the business. Advisory revenue rises 28% year-on-year, with Pensions Administration revenue up 16%, and Self-Invested Pension revenue up 23%. "We are pleased to confirm continued strong performance across all our lines of business, sustaining the momentum we have built in recent years," says Co-CEO Paul Cuff. Following the update, the Royal Bank of Canada raised the target price for the stock to 245p from 220p, maintaining its 'outperform' rating,
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Vanquis Banking Group PLC, up 8.1% at 125.4p, 12-month range 102.6p-248.4p. The specialist bank says it returns to profit in the third quarter, thanks to cost reductions and support of its net interest margin. Expects adjusted pretax profit in a GBP25 to GBP30 million range for 2023, but notes this guidance is subject to various factors. Says dividend in the second half will not exceed 1.0p, given the 5.0p dividend paid for the first half. Will conduct broader strategy review in the fourth quarter, and update in March next year at a Capital Markets Day.
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SMALL-CAP - LOSERS
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Phoenix Spree Deutschland Ltd, down 1.7% at 167.12p, 12-month range 163p-272p. The Berlin-focused residential real estate investor corrects EPRA net tangible assets per share as at June 30 to EUR4.46, having first reported the figure at EUR4.64 in its previous report. Says the derivative financial instrument asset had "prosperously not been excluded" from its IFRS net asset value, from which EPRA NTA is derived. The firm makes various corrections to associated values.
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By Elizabeth Winter, Alliance News senior markets reporter
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Phoenix Spree D (PSDL)
Vanquis Banking (VANQ)
Xps Pensions (XPS)