Last checked at LONDON (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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Inmarsat, up 0.7%. The satellite communications company's target price was upgraded by HSBC to 1,100 pence from 980p, with a Hold rating kept intact. Inmarsat shares were trading at 1,096.00p.
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FTSE 100 - LOSERS
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Aberdeen Asset Management, down 1.6%, Standard Chartered, down 1.5%. China-exposed stocks responded to a 5.5% fall in the Shanghai stock market on Friday, hurt by weak data from both Japan and China and ongoing tensions in the Middle East. Chinese stocks also were hurt by news of investigations into several major brokerages over suspected trading violations, adding to the negative tone. Hong Kong's Hang Seng index lost 1.9%. Fund manager Aberdeen and lender Standard Chartered both focus on emerging markets.
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FTSE 250 - WINNERS
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SVG Capital, up 2.8%. The private equity investor said there is a need for "discipline and caution" amid a tough macro environment. "The company's strong balance sheet positions us well to cover our liabilities, take advantage of any investment opportunities as they arise, as well to mitigate any short-term volatility," Chief Executive Lynn Fordham said in a statement. Fordham's comments came as SVG said it has reaped the benefits of a strategy implemented in 2012, with investments made following that year showing a total return of 7.0% in the quarter and 10% over the nine months to October 31.
Pennon Group, up 2.3%. The water and waste management company said its profit and earnings both improved in the first half thanks to energy recovery facilities in its Viridor waste-management business and a better-than-expected contribution from recently-acquired Bournemouth Water. Pennon said its pretax profit for the six months to the end of September was GBP106.8 million, up from GBP100.0 million a year earlier. Pennon said it will pay an interim dividend of 10.46 pence, up from 9.98p a year earlier, and said it remains on track to meet its expectations for the year to the end of March 2016.
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FTSE 250 - LOSERS
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Fidelity China Special Situations, down 2.9%. The China-focused investment fund also was hurt by the decline in Shanghai and Hong Kong stocks.
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MAIN MARKET AND AIM - WINNERS
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LMS Capital, up 7.5%. The investment company said it plans on returning GBP40.0 million to shareholders through a tender offer and repurchase of up to 29.98% of its shares. The tender offer would be the fourth since LMS Capital's realisation strategy was approved in November 2011. It would increased the amount returned to shareholders since that strategy began to GBP155.0 million.
Rightster Group, up 9.4%. The video content company has taken itself off the market, saying that following recent changes to the company including the appointment of new leadership, it has decided to conclude its strategic review process and focus on seeking further investment in the company. As a result, Rightster is no longer in an offer period under UK takeover code
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MAIN MARKET AND AIM - LOSERS
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Anglesey Mining, down 23%. The miner said it remains positive of a recovery within the resources sector in a "sensible time frame", although it warned its short- to medium-term outlook remains "somewhat unclear", as it reported a narrowed pretax loss for its first half. "While the current situation is dark and indeed the future is uncertain, Anglesey remains positive that a recovery will occur within a sensible time frame. We will maintain our assets in good standing to permit us take the fullest advantage of the inevitable, and I thank all shareholders for their patience during these difficult times," said Chairman John Kearney in a statement.
Adams, down 22%. The technology and life sciences-focused investment company said it made two investments in the first half and said it is maintaining a selective approach to investing given uncertainty in markets. Adams said it invested EUR242,000 in the first half in two AIM-listed technology companies, neither of which it named. The first is a global online gaming and sports betting company, while the other is a processor technology business. The group said the slowdown in China, the ongoing uncertainty in Europe, conflicts in Ukraine and the Middle East, and uncertainty about the UK's position in the European Union have made it "highly selective" about the investments it pursues.
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By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
IN BRIEF: Anglesey Mining appoints Robert Marsden as new CEO from May
Anglesey Mining PLC - Mining company with operations in Wales, Sweden and Canada - Appoints Robert Marsden as new chief executive officer from May 1. He is a mining engineer with 29 years of international experience and held technical, operational and management roles at Rio Tinto PLC for 18 years. Interim Chair Andrew King says: "Having already spent some time with him at Parys Mountain, it is clear Rob has the skillset to oversee the evolution and development of Parys Mountain and, like us, he is enthused by the latest drilling results and grade continuity. As we await the assay results for drill hole NCZ003, I am very much looking forward to his input and perspective as we seek to progress both this project and the company more generally in the future." Marsden succeeds Jonathan Battershill, who retired from his role at the end of 2023 but continues on the board of the company as non-executive director.
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