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Pin to quick picksBank Of Ireland Share News (BIRG)

Share Price Information for Bank Of Ireland (BIRG)

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Share Price: 10.17
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Change: 0.00 (0.00%)
Spread: 0.12 (1.194%)
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Prev. Close: 10.17
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UK WINNERS & LOSERS SUMMARY: Airlines Grounded By UK Quarantine Plans

Mon, 11th May 2020 11:09

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

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FTSE 100 - LOSERS

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easyJet, down 8.0%, International Consolidated Airlines, down 3.5%. The airlines were in the red amid government plans to require passengers arriving in Britain to quarantine for a fortnight. "Airlines and airline-related stocks remained firmly grounded after [UK Prime Minister] Boris Johnson confirmed a 14-day quarantine for travellers arriving in the UK alongside a series of other changes to current containment measures," said AJ Bell's Russ Mould. Aviation service providers Rolls-Royce Holdings, Melrose Industries and Meggitt were down 2.8%, 3.0% and 6.5%, respectively.

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Next, down 1.0%. Goldman Sachs downgraded the clothing and homewares retailer to Neutral from Buy.

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FTSE 250 - LOSERS

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Hammerson, down 5.1%. Morgan Stanley downgraded the shopping centre operator to Underweight from Equal Weight.

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Weir Group, down 3.5%. HSBC cut the valve actuators maker to Hold from Buy.

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Victrex, down 1.5%. The speciality chemicals maker warned that the Covid-19 pandemic is beginning to hit its forward order book, as it posted a dip in first-half profit. For the six months to March 31, revenue rose 4% to GBP151.5 million from GBP145.7 million a year before; however, pretax profit edged lower to GBP49.9 million from GBP50.2 million reflecting exceptional items of GBP2.1 million related to the group's China subsidiary investment. The rise in revenue was attributed to an improved volume performance and a slightly weaker product mix. Victrex deferred its interim dividend payment, due to the coronavirus crisis, and said the timing of any shareholder payment will be dependent on "prevailing macro-economic and end-market conditions over the coming months".

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OTHER MAIN MARKET AND AIM - WINNERS

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Boohoo Group, up 4.0%. The online fashion retailer was raised to Outperform from Market Perform by Bernstein.

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OTHER MAIN MARKET AND AIM - LOSERS

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Bank of Ireland Group, down 5,6%. The Irish lender said it said it suffered a massive swing to a first-quarter loss, with the Dublin-based lender hit by ballooning impairment costs and market volatility. Bank of Ireland said it has approved 86,000 payment breaks to personal and business banking customers since mid-March, when the Covid-19 pandemic began to grip Europe. It reported a pretax loss of EUR241 million in the three months to the end of March, from a EUR123 million profit a year before. Bank of Ireland incurred net impairment charges of EUR266 million, ratcheted, up from EUR43 million in the first quarter of 2019. Costs this year included a "Covid-19 management overlay", the lender said. Bank of Ireland warned of "expected increased impairment and loan loss experience over the course of 2020".

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By Arvind Bhunjun; arvindbhunjun@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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