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(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
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