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UK WINNERS & LOSERS SUMMARY: Avast Climbs After Strong Quarter

Fri, 18th Oct 2019 10:27

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

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FTSE 100 - WINNERS

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Royal Bank of Scotland, up 2.5%. JPMorgan has raised the stock to Overweight from Neutral.

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FTSE 100 - LOSERS

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InterContinental Hotels Group, down 3.3%. The hotel firm expressed confidence in the remainder of the year despite a reduction in third-quarter revenue amid challenges in some of its operating markets. The Buckinghamshire, England-based hospitality company reported net system size growth of 4.7% in the third quarter to 865,000 rooms and said it is on track to exceed it by 5% in 2019. Revenue per available room, a key performance metric for the hotel industry, for the three months to the end of September was down 0.8%, hurt by "tougher" trading conditions in the US and China, and ongoing unrest in Hong Kong, InterContinental Hotels said. For the first nine months of 2019, RevPAR remained flat year-on-year.

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Evraz, down 2.6%. The steelmaker said an ongoing efficiency programme is expected to add USD350 million to 2019 earnings before interest, taxes, depreciation and amortisation. The London-headquartered company also said it is considering three major investments projects to increase sales of finished steel products. The investments will be made between 2020 and 2023 and, as a result, Evraz is predicting capital expenditure of USD1 billion per annum for each of the years. For 2019, the company sees capital expenditure at USD850 million.

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Fresnillo, down 1.3%. Goldman Sachs has cut the gold miner to Neutral from its Conviction Buy List.

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FTSE 250 - WINNERS

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Avast, up 6.2%. The cybersecurity firm reported "good" third-quarter growth, with all guidance for 2019 reaffirmed. For the three months to September, Avast posted adjusted earnings before interest, taxes, depreciation, and amortisation of USD121.9 million, 8.7% higher year-on-year. For the nine months, adjusted Ebitda grew 6.6% to USD358.5 million. Avast's adjusted revenue climbed 5.0%, or 6.6% excluding foreign exchange, to USD220.3 million. Removing forex and discontinued business, the figure was up 9% to USD218.3 million, though with currency movements climbed 7.3%. For the nine months to September, Avast's revenue from continuing operations rose 7.9% to USD640.1 million, and was up 9.1% excluding forex. Including discontinued business, it climbed 5.5% to USD647.1 million, rising 6.7% excluding forex.

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FTSE 250 - LOSERS

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Centamin, down 3.1%. The gold miner has been reduced by Goldman Sachs to Neutral from Buy.

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Britvic, down 1.5%. JPMorgan has lowered its rating on the drinks maker to Neutral from Overweight.

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OTHER MAIN MARKET AND AIM - WINNERS

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Elegant Hotels, up 57%. Marriott International and Elegant have reached a takeover agreement. US hotel chain Marriott will pay 110 pence in cash per Elegant share. This values the entire share capital of Elegant at GBP100.8 million. The offer represents a 57% premium to Elegant's closing price on Thursday of 70p, and implies an enterprise value of USD199.0 million based on the firm's net debt.

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OTHER MAIN MARKET AND AIM - LOSERS

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Itaconix, down 12%. The firm said delays in customer projects mean 2019 revenue will be below market expectations, but will be significantly ahead of the comparative year ago figure. The New Hampshire, US-based polymer ingredients maker's revenue for the nine months to September 30 reached GBP700,000, up 78% year-on-year. Second half revenue is predicted to exceed the first half. As a result of lower than expected annual revenue and one-off costs related to new product development, Itaconix expects to report loss before interest, taxes, depreciation and amortisation for second half of 2019 broadly in line with the GBP1.0 million loss recorded in the first half, meaning the 2019 Ebitda loss will be roughly GBP2.0 million.

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By George Collard; georgecollard@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Monday 8 August 
Investec PLC and Ltddividend payment date
Tuesday 9 August 
Caffyns PLCdividend payment date
Record PLCdividend payment date
Wednesday 10 August 
no events scheduled 
Thursday 11 August 
abrdn Property Income Trust Ltdex-dividend date
Alternative Income REIT PLCex-dividend date
Ashtead Group PLCex-dividend date
AstraZeneca PLCex-dividend date
Barclays PLCex-dividend date
BP PLCex-dividend date
CMC Markets PLCdividend payment date
Direct Line Insurance Group PLCex-dividend date
Domino's Pizza Group PLCex-dividend date
Fresnillo PLCex-dividend date
Greencoat UK Wind PLCex-dividend date
Hiscox Ltdex-dividend date
Home REIT PLCex-dividend date
IMI PLCex-dividend date
Informa PLCex-dividend date
iomart Group PLCex-dividend date
IP Group PLCex-dividend date
Jupiter Fund Management PLCex-dividend date
Lindsell Train Investment Trust PLCex-dividend date
LMS Capital PLCex-dividend date
LSL Property Services PLCex-dividend date
Man Group PLCex-dividend date
Me Group International PLCspecial dividend date
Montanaro European Smaller Companies Trust PLCex-dividend date
Octopus Renewables Infrastructure Trust PLCex-dividend date
Pearson PLCex-dividend date
Provident Financial PLCex-dividend date
Quartix Technologies PLCex-dividend date
Reach PLCex-dividend date
Rio Tinto PLCex-dividend date
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Copyright 2022 Alliance News Limited. All Rights Reserved.

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Informa PLCHalf Year Results
Meggitt PLCHalf Year Results
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Avast PLCHalf Year Results
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Baillie Gifford US Growth Trust PLCFull Year Results
BlackRock Energy & Resources Income Trust PLCHalf Year Results
CLS Holdings PLCHalf Year Results
Computacenter PLCTrading Statement
ContourGlobal PLCHalf Year Results
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Hostelworld Group PLCHalf Year Results
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Provident Financial PLCHalf Year Results
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Copyright 2022 Alliance News Limited. All Rights Reserved.

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