AGQ.L Share News (AGQ)

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Tuesday.
----------
FTSE 100 - LOSERS
----------
Glencore, down 5.7%, Anglo American, down 5.2%, BHP Billiton, down 4.9%. Blue-chip miners were falling following weak manufacturing data from China, which helped to reinforce ongoing concerns about slowing economic growth in the country. That same sentiment helped send shares in luxury goods company Burberry Group lower, down 4.1%, given its sales to the Chinese market. Standard Chartered, an emerging markets-focused bank with a heavy exposure to China, also fell, down 3.8%.
----------
FTSE 250 - WINNERS
----------
Rentokil Initial, up 2.9%. The business services company has agreed a USD425.0 million deal to acquire US-based pest control company The Steritech Group. Rentokil said the deal will strengthen its position as the third-largest pest control services provider in the US market and will make it the third-largest player in the Canadian market. The purchase of Charlotte, North Carolina-based Steritech means Rentokil's North American operation now generated revenue of USD800 million per year and is its largest division

Restaurant Group, up 2.0%. Deutsche Bank upgraded the restaurant operator, which owns the Frankie & Benny's, Garfunkel's and Chiquito chains, to Buy from Hold. The bank said the company looks better positioned than others in the restaurant sector to cope with the margin pressures resulting from expanding estates and the UK National Living Wage.
----------
FTSE 250 - LOSERS
----------
Man Group, down 5.7%. The hedge fund manager was hit by a Bloomberg report on Monday which said the head of its China unit has been taken into custody to assist with a police probe into market volatility. Li Yifei, the chair of Man Group's China arm, is understood to be assisting with a wider investigation into market volatility in China, meaning she is not facing any charges of wrongdoing.

Jimmy Choo, down 8.1%. The luxury goods company, in line with blue-chip rival Burberry Group, was hit as Chinese equities continued to fall following the release of weak manufacturing data from the country, which served to reinforce ongoing worries about slowing economic growth in the country.
----------
MAIN MARKET AND AIM - WINNERS
----------
Latchways, up 48%. The company, which makes safety devices that prevent construction workers from falling, said it has agreed to be acquired by US-based MSA Safety Inc for GBP124.0 million. Latchways said it will get 1,100.00 pence per share under the terms of the deal, a 53% premium to its closing price on Friday. The stock is quoted at 1,067.00p Monday.

Vmoto, up 14%. The electric scooter manufacturer posted a massive rise in pretax profit and a jump in revenue for the first half as it sold more units both in its domestic market of China and to international customers. Vmoto said its pretax profit for the six months to the end of June was up to USD1.0 million from USD210,670 a year earlier, as revenue rose to USD24.9 million from USD15.9 million. Units sold in the half rose to 41,503 from 36,705, while units sold to international customers, meaning outside of China, rose by 68% to 7,211. The company expanded its retail network in China in the half and has seen continued growth in international markets, particularly in Denmark, Malaysia and Vietnam.

Mariana Resources, up 12%. The miner said it has received further high-grade gold-copper intercepts from the ongoing drilling programme at the Hot Maden Project in north east Turkey. Mariana said joint venture partner Lidya Madencilik Sanayi ve Ticarte has received results from the drilling programme which extend the known gold-copper mineralisation zone at the site both down-dip and to the north of the existing prospect area.
----------
MAIN MARKET AND AIM - LOSERS
----------
Arian Silver Corp, down 45%. The miner said the commissioning of the La Tesorera processing plant in Spain is behind schedule and will not be completed until the fourth quarter of 2014, meaning it will need to secure additional short-term funds to keep going. Arian is in discussions with several groups about securing additional working capital after the company reported a low cash balance, but the company has generated its first revenue from the plant.

Entu (UK), down 31%. The home improvement company said its full-year results will be below market expectations after it decided to shut-down its struggling solar business and warned it may cut its dividend. "Following the developments in Solar, Entu now anticipates that its full-year results will be below market expectations," said the company in a statement. "The prospects for our Solar business have deteriorated dramatically over the last six months, and we have taken a decision which I have no doubt will be seen to be correct. However we have disappointed our shareholders, and I can only assure them that we are entirely focused on restoring earnings, dividends and shareholder value," said Chief Executive Ian Blackhurst.

Havelock Europa, down 27%. The furniture and interiors services company said it is cutting the size of its workforce and selling its Teacherboards business to Sundeala for GBP1.4 million in order to streamline and simplify its business model, as it revealed that its full-year results for 2015 will be below guidance. "Our customer survey and review of the business demonstrates that these changes are necessary. We are re-basing the business to reflect the more competitive market place. No decision to reduce jobs is ever taken lightly, and we will do everything possible to support those colleagues affected," Chief Executive David Ritchie said in a statement.
----------
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

Copyright 2015 Alliance News Limited. All Rights Reserved.