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Pin to quick picksAdvanced Oncotherapy Share News (AVO)

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UK WINNERS & LOSERS SUMMARY: THG Surges After Raising Revenue Guidance

Mon, 26th Oct 2020 10:35

(Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Monday.

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FTSE 100 - WINNERS

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Pearson, up 3.6%. UBS upgraded the education publisher to Buy from Neutral.

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AstraZeneca, up 1.1%. The Anglo-Swedish drugmaker late Friday said clinical trials for its AZD1222 coronavirus vaccine, being developed alongside Oxford University, has been resumed around the world, as regulators in the US, UK, Brazil, South Africa and Japan confirmed that it is safe to do so. The US Food & Drug Administration authorised the restart of the trials in the US, as they resumed in other countries in recent weeks, following the review of all safety data from trials in other regions.

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FTSE 100 - LOSERS

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Royal Dutch Shell 'A', down 1.6%, Shell 'B', down 1.5%. The oil major was tracking spot oil prices lower, quoted at USD40.78 a barrel Monday morning, down sharply from USD42.25 late Friday. Warring factions in Libya signed a countrywide ceasefire on Friday brokered by the United Nations. The ceasefire is poised to lead to more Libyan oil supply to the market at a time when demand is weak. "The return of just one million barrels per day of extra production to the world market has sent oil into a tailspin. It highlights how fragile sentiment is to the supply/demand balance of oil in international markets. A double-dip recession in Europe will add to the demand concerns," said Oanda Markets analyst Jeffery Halley.

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FTSE 250 - WINNERS

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Synthomer, up 2.5%. JPMorgan raised the speciality chemicals firm to Overweight from Neutral.

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FTSE 250 - LOSERS

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Beazley, down 2.5%. Morgan Stanley downgraded the insurer to Equal Weight from Overweight.

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OTHER MAIN MARKET AND AIM - WINNERS

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THG Holdings, up 12%. The online retailing platform raised revenue guidance for 2020, following strong trading in the third quarter and continued momentum in the fourth quarter to date. THG said for the three months to the end of September, total revenue grew by 39% year-on-year to GBP378.1 million. The group reported growth across all businesses. The largest contributor was THG Beauty, which grew revenue by 45% to GBP157.5 million. However, it was the THG Lifestyle division which grew at the fastest percentage rate, with an 80% increase to GBP24.4 million. THG listed in London last month with a market capitalisation of GBP5.40 billion and at the time guided for annual revenue of GBP1.43 billion. As a result of the stronger quarterly performance, the group now expects revenue to be between GBP1.48 billion to GBP1.52 billion, reflecting a 30% to 33% increase from GBP1.14 billion the year before. "Longer-term excitement around the story is based on its Ingenuity platform which has been compared in some quarters to Ocado's online solution for global groceries firms. The Hut essentially picking up the IT and logistical requirements of the likes of PZ Cussons, Hotel Chocolat and Nestle," said AJ Bell's Russ Mould.

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OTHER MAIN MARKET AND AIM - LOSERS

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Advanced Oncotherapy, down 14% at 31.65 pence. The proton therapy provider said it intends to raise GBP7.7 million through a subscription, the proceeds of which will go towards strengthening the company's balance sheet and ensure its first LIGHT system is fully operational in 2021. The company said it will issue 25.7 million shares to clients of SI Capital and other investors at a price of 30p each. The issue price reflects a 18% discount to the company closing price on Friday at 37p. The newly issued shares will represent 7.7% of its enlarged issued share capital.

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Corcel, down 11% at 1.07 pence. The natural resource exploration and development company said it has raised GBP750,000 through the placing of 75 million shares at GBP0.01 per share. The placing price represents a 15% discount to Friday's closing price of 1.17 pence. London-based Corcel said the new cash will be used to exercise the option with Sinom Hong Kong Ltd to purchase the remaining AUD3.05 million - or GBP1.7 million - debt in Resource Mining Corp at a 65% discount, noting the the exercise of the option now entails the payment of AUD640,000 in cash and the issuance of 23.7 million shares to Sinom subsidiary Asia Pacific. The company added it will also use some of the proceeds to pursue additional opportunities in the battery metals space.

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By Arvind Bhunjun; arvindbhunjun@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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Advanced Oncotherapy PLC - London-based provider of proton therapy for cancer treatment - Continues to work on its recapitalisation plan with an unnamed third party investor. Says discussions are at an advanced stage but has not entered into any binding agreements with the investor, nor received any funds. This comes after it signed a non-binding term sheet with the investor in October. The investor is expected to provide funding of up to USD80 million to meet the company's cashflow requirements through to the European certification of the LIGHT System. Notes the treatment of first patients with LIGHT is now targeted for 2024 with certification of the LIGHT System to follow thereafter. Anticipates the financing to be a mixture of equity and debt financing. The firm currently owes GBP28 million to trade and other unsecured creditors and GBP41 million of financial debt.

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IN BRIEF: Advanced Oncotherapy in talks over possible cash injection

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IN BRIEF: Advanced Oncotherapy results delayed, funding talks continue

Advanced Oncotherapy PLC - London-based provider of proton therapy for cancer treatment - On Friday, says it is not in a position to publish its accounts for the year ended December 31, 2022, and the unaudited interim results for the six months ended June 30, together with the 2022 annual report. Explains the 2023 interim results are contingent on the finalisation and publication of the 2022 annual report.

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IN BRIEF: Advanced Oncotherapy receives GBP1.2 million in funds

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IN BRIEF: Advanced Oncotherapy non-exec director buys 500,000 shares

Advanced Oncotherapy PLC - London-based particle therapy for cancer treatment - Non-Executive Director Michael Bradfield buys 500,000 shares at 13.17 pence, worth GBP65,825, on Thursday. Now has 8.4 million shares, a 1.6% stake.

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