LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Wednesday.
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FTSE 100 - WINNERS
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SABMiller, up 1.6% at 3,689.00 pence. Brewing giant Anheuser-Busch InBev on Wednesday said it has tabled an offer to acquire SABMiller, having seen two other informal offers rejected, and said it thinks its new bid should be "highly attractive" to SABMiller shareholders. Tobacco firm Altria, a major shareholder in SABMiller, said it supported AB InBev's offer. SABMiller responded by saying its board will meet to discuss the new bid, after confirming it had rejected the previous offers as the board felt they undervalued the company. AB InBev said its bid values SABMiller at 4,215p per share, or GBP68.2 billion overall.
Anglo American, up 11%, Rio Tinto, up 7.9%, BHP Billiton, up 4.5%. Morgan Stanley lifted BHP Billiton and Rio Tinto to Overweight from Equal-Weight and raised Anglo American to Equal-Weight from Underweight.
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FTSE 100 - LOSERS
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Sports Direct International, down 2.5%. The sporting goods and equipment retailer said it reached an agreement to acquire Irish clothing retailer Warrnambool, which trades as Heatons, for EUR47.5 million. Sports Direct said it has agreed a deal with Sandra Minor, a minority shareholder in Warrnambool, to acquire her stake in the business and increase Sports Direct's holding to just over 50%. In addition, it has agreed a conditional put and call option agreement with the remaining shareholders in the company to buy the remainder of the business. Warnnambool is the holding company for Heatons, a Republic of Ireland and Northern Ireland-based clothing retailer.
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FTSE 250 - WINNERS
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Tullow Oil, up 13%, Premier Oil, up 9.8%. Oil and gas companies were trading higher as the Brent oil price rose 1.1%. Oil and gas service companies also benefited from the rise, with Weir Group up 6.3%, Hunting up 5.6%, Petrofac up 5.4% and Amec Foster Wheeler up 5.3%.
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FTSE 250 - LOSERS
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BTG, down 4.9% at 570.50 pence. The specialty pharmaceuticals company's price target was cut by JPMorgan Cazenove to 1,000p from 1,100p, though it kept an Overweight rating. Shares in the company slumped on Tuesday after it tempered expectations for its full year as the US roll-out of its key varicose veins treatment, Varithena, continued to prove slower than hoped, prompting the company to say its revenue for the full year will be within the lower half of its guidance.
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MAIN MARKET AND AIM - WINNERS
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Strat Aero, up 10%. The drone maker said it has signed a joint venture agreement with UAV Airways to establish remotely piloted aircraft and systems training centres as well as delivering training courses in overseas territories. Strat Aero said the joint venture will enable it to create a comprehensive portfolio of RPAS training and a broad pool of qualified UAV operators which will in turn allow it to accelerate the delivery of its UAV services. Strat Aero will provide the start-up funding for the joint venture, while UAVAir will licence the intellectual property of the course and training material and provide training school setup services until the schools are self-sufficient.
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MAIN MARKET AND AIM - LOSERS
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Botswana Diamonds, down 16%. The diamond miner said the latest drilling in the Orapa region in its name-sake country intersected an older type of rock that is not consistent with other kimberlite intersected in the region. The company, which holds a 50% stake in the project alongside Alrosa, conducted a three-hole drilling programme to target a previously identified anomaly, which was thought to contain significant kimberlite indicator minerals. "The rock discovered is not Orapa kimberlite but appears to be another older ultramafic rock," said Chairman John Teeling.
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By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
5 Nov 2015 12:10
