Active Energy Share News (AEG)

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Tuesday.----------FTSE 100 - WINNERS----------Schroders, up 1.8%. Goldman Sachs started coverage on the investment manager with a Neutral rating. ----------FTSE 100 - LOSERS----------Hargreaves Lansdown, down 5.9%. Shares in the fund supermarket fell after star fund manager Neil Woodford suspended withdrawals from its flagship equity fund, which had been a constituent of Hargreaves' favourite fund investment list. The fund supermarket on Monday removed the Woodford Equity Income Fund and the Woodford Income Focus Fund from its Wealth 50 list. "As the fund can't be traded, we have made the decision to remove it from our Wealth 50 list of favourite funds. We have also removed the Woodford Income Focus Fund," Hargreaves said.----------FTSE 250 - WINNERS----------Royal Mail, up 3.5%. JPMorgan raised the postal operator to Neutral from Underweight. ----------888 Holdings, up 2.5%. The gaming company said the continuation of strong trading momentum, marketing investments, and the release of its Orbit casino platform has led to rise in like-for-like revenue and new customers growth. For the period from January 1 to May 18, the company recorded 6% growth in constant currency adjusted like-for-like revenue and 2% rise in reported revenue. New customer acquisition was up by 20% year-on-year. 888 said strong momentum continued across a several regulated markets driven by Sport and Casino businesses, partly offset by Bingo and Poker. In UK, the company continued to achieve encouraging growth, it said, with revenue increasing by 18% on an adjusted like-for-like basis and 8% on a reported basis.----------Ashmore, up 1.7%. Goldman Sachs started coverage of the emerging markets-focused asset manager with a Buy rating. ----------FTSE 250 - LOSERS----------Woodford Patient Capital Trust, down 9.9%. Neil Woodford suspended withdrawals from his equity income fund as its underperformance resulted in significant outflow of investors. The equity fund is managed by Woodford Investment Management, which also manages Woodford Patient Capital Trust. Trading in Woodford Patient Capital Trust remains unaffected by the suspension. In a statement on Monday, LF Woodford Equity Income Fund said: "Following an increased level of redemptions, this period of suspension is intended to protect the investors in the fund by allowing Woodford, as previously communicated to investors, time to reposition the element of the fund's portfolio invested in unquoted and less liquid stocks, in to more liquid investments." Construction firm Kier Group, which counts Woodford as one of its largest investors, was down 6.3%. Kier shares dropped around 41% on Monday after it said adjusted operating profit for financial 2019 will be lower than previously expected due to mounting volume pressures.----------OTHER MAIN MARKET AND AIM - WINNERS----------EQTEC, up 35%. The renewable energy developer said it signed its first agreement with Phoenix Biomass Energy for the joint development of a biomass gasification power project in California, US. The company has signed a legally binding agreement with Phoenix and North Fork Community Development Council to acquire 20% ownership of North Fork Community Power, a special purpose vehicle formed to build and operate a 2 megawatts biomass project in North Fork, California. EQUTEC will cover the payment for its share of the investment solely by the supply of certain items it already holds valued at USD2.5 million. No cash consideration will be required. Under a separate sales contract, EQTEC expects to invoice NFCP EUR2.2 million, for the sale of further equipment and the supply of engineering and design services. ----------Active Energy, up 15%. The renewable energy and forestry management firm said it is making progress in the construction of a new CoalSwitch operation in Lumberton, US. Firstly, all reactors and ancillary equipment are scheduled to start arriving in Lumberton later this week after being removed from the Utah site. Construction of the five tonne per hour is expected to start within the months, while ancillary construction activities is to start with the building of weighbridges and other infrastructure items for the handling of biomass. The test reactor is now operational, with the testing programme for clients now underway, and a five-year contract has been signed for the supply of up to 800,000 tonnes per annum of feedstock to Lumberton.----------OTHER MAIN MARKET AND AIM - LOSERS----------AO World, down 7.5%. The online electrical goods retailer reported a widened loss in its most recent financial year, but said it "can do better" as it looks ahead with confidence. For the year ended March 31, the company posted a pretax loss of GBP18.9 million, compared with GBP13.5 million loss a year ago. This was due to administrative costs rising to GBP169.0 million from GBP159.8 million and finance costs up to GBP6.2 million from GBP2.1 million. Revenue, however, jumped 13% to GBP902.5 million from GBP796.8 million, with the retailer experiencing growth in both Europe and UK despite challenging market backdrops. ----------