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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 - LOSERS
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St James's Place, down 1.8%. Barclays cut the wealth manager to Equal Weight from Overweight.
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FTSE 250 - WINNERS
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IWG, up 6.7%. Berenberg raised the office workspace provider to Buy from Hold.
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OTHER MAIN MARKET AND AIM - WINNERS
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Midatech Pharma, up 22%. The drug delivery company reported "encouraging" results from a Phase I study of its MTX110 drug in patients with diffuse intrinsic pontine glioma, types of brain tumours. "The study has determined a proposed dose range for MTX110 for Phase II and has shown that repeated delivery of MTX110 via CED is feasible and safe," said Sabine Mueller, the study's principal investigator.
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IG Design Group, up 12%. The consumer gift packaging business based in Milton Keynes expects a 40% annual rise in revenue for the six months to September 30 to USD435 million.
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Nostra Terra Oil & Gas, up 10%. It said Cypress Minerals LLC has begun construction of the drilling pad in preparation to drill the new well at the company's Pine Mills oil field. Construction of the drilling pad began last week. The rig is on standby next to the location where, once the pad is constructed, it will immediately be mobilised to Pine Mills to begin drilling. Nostra Terra Chief Executive Matt Lofgran said: "We're pleased to be working with Cypress and to see the progress they're making, and look forward to spudding the new well very soon."
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OTHER MAIN MARKET AND AIM - LOSERS
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boohoo, down 11%. Citing two people familiar with the matter, the Financial Times on Friday reported PwC has signalled its intention to quit as boohoo's auditor. In response, the fast fashion company said on Monday that PwC "remains its auditor at this time" but has begun a tender for its replacement. Separately on Sunday, the Sunday Times reported the National Crime Agency is investigating companies that supply boohoo, over suspicions of money laundering and VAT fraud. The agency is looking into the Leicester textile industry, with NCA officials saying they have evidence from whistleblowers in the city's garment factories, who provided documents that detail alleged money laundering and VAT fraud.
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Orchard Funding, down 5.7%. Luton, England-based finance company withdraws application for a banking licence due to economic uncertainty caused by Covid-19. Will focus on its "core business activities" instead.
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By Eric Cunha; ericcunha@alliancenews.com
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