Avon Protection Share News (AVON)

(Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Wednesday.----------FTSE 100 - WINNERS----------Fresnillo, up 4.2%. The Mexican gold miner gained as traders continued to invest in safe haven assets for fear for a further escalation in trade war tensions. An ounce of the precious metal was quoted at USD1,487.27 on Wednesday, up from USD1,472.50 at the London market close on Tuesday.----------FTSE 100 - LOSERS----------Spirax-Sarco Engineering, down 5.7%. Spirax, which manufactures valves and pumps, reported a slight increase in first-half profit and also raised its dividend payout. Spirax kept its full-year expectations remain unchanged, despite weakening global industrial production growth forecasts for the second half of 2019. Pretax profit was GBP108.1 million for the six months to June 30, up 1.2% from the year-ago period, on revenue of GBP591.2 million, up 8.0% year-on-year. First-half adjusted operating profit increased 3% year-on-year to GBP129.2 million, negatively impacted by GBP1.1 million from acquisitions and disposals, and a GBP800,000 exchange headwind.Standard Life Aberdeen, down 5.4%. The fund manager reported a rise in assets under management & administration at the end of the first half as net outflows narrowed and investment performance improved. The company declared an unchanged interim dividend of 7.3p. Standard Life recorded assets under management & administration from continuing operations of GBP577.5 billion at June 30, up 4.7% from GBP551.5 billion six months earlier. Net fund outflows totalled GBP15.9 billion versus GBP24.0 billion outflows recorded the year before. The majority of the outflows were seen in Standard Life Aberdeen's Equities strategies, which saw GBP13.6 billion in redemptions leading to net outflows of GBP9.3 billion.Glencore, down 2.4%. The miner reported a drop in earnings in what it said was a challenging half-year for its commodities. Further, Glencore is to put the Mutanda mine in the Democratic Republic of the Congo on care & maintenance by the end of 2019 due to reduced cobalt prices. Glencore's adjusted earnings before interest, taxes, depreciation and amortisation for the six months to end-June came in at USD5.58 billion, down 32% on a year before, and well short of analyst consensus of USD5.94 billion. Adjusted earnings before interest and taxes was USD2.23 billion, 56% lower year-on-year and again short of consensus of USD2.36 billion. Glencore's first half net income attributable to shareholders slumped 92% to USD226 million, with revenue down 1.3% to USD107.10 billion. ----------FTSE 250 - WINNERS----------Hill & Smith, up 7.8%. The infrastructure products maker boosted its interim dividend on the back of rising profit and revenue in a "much improved" performance. For the six months ended June, pretax profit widened 16% to GBP33.4 million from GBP28.9 million the year prior. This was after revenue rose 15% to GBP339.5 million from GBP295.4 million the year prior. Hill & Smith proposed a 10.6 pence per share interim dividend, up 6.0% from 10.0p the year prior. In a separate announcement on Wednesday, Hill & Smith promoted Non-Executive Director Alan Giddins to chair from the start of October. He has been a non-executive since October 2017. Giddins - a former head of private equity at 3i Group PLC - will replace Chair Jock Lennox who is retiring. Lennox has been chair since 2017.Ultra Electronics, up 7.5%. The defence engineer lifted its interim dividend Wednesday after profit, revenue and orders grew in a "solid" start to the year. For the six months ended June, pretax profit almost doubled to GBP37.9 million from GBP20.0 million the year prior. This was after revenue rose 10% to GBP387.1 million from GBP350.5 million the year before. Profit performance was helped by a steep fall in one-off charges. In particular, acquisition intangibles impairments charges fell on the year prior as well as a GBP2.6 million gain booked on derivatives, compared to a GBP5.2 million loss the year prior. Ultra proposed a 15.0 pence per share interim dividend, up 2.7% from 14.6p the year before.----------FTSE 250 - LOSERS----------Sirius Minerals, down 11%. Berenberg downgraded the fertiliser development firm to Hold from Buy. On Tuesday, the stock tumbled 29% after suspending a USD500.0 million secured note offering due to "current market conditions".----------OTHER MAIN MARKET AND AIM - WINNERS----------Avon Rubber, up 8.3%. The firm, which makes gas masks and cow milking equipment, said it acquired the ballistics protection unit from New York-listed 3M Co for up to USD116 million. Avon will pay an initial USD91 million in cash for the business - including the Ceradyne ceramic brand - with a further USD25 million payment depending on the outcome of pending tenders. In 2018, the acquired business generated USD10.8 million in earnings before interest, taxes, depreciation and amortisation on revenue of USD85.4 million. For the year ended September 2018, Avon Rubber generated GBP35.3 million in Ebitda on revenue of GBP165.5 million. ----------OTHER MAIN MARKET AND AIM - LOSERS----------Burford Capital, down 42%. The litigation finance firm noted a recent plunge in its share price, saying it believed the reason for its share movement was due to the rumour of a "short attack". On Tuesday, the stock had fallen 19%. A short attack was defined by Burford as a tactic where sellers take a short position in a company's stock, then engage in claims about the company with the intent to spook investors, and depress the company's stock and profit from the decline. The litigation finance firm noted the release of a short attack document by US research firm Muddy Waters Capital. In the document, Muddy Waters said it had shorted Burford, on the grounds that "it is a poor business masquerading as a great one". In response to the research firm's note, Burford said it had never been contacted by Muddy Waters, but stated that its cash position and access to liquidity was strong, and that its returns were robust.----------