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Share Price: 524.80
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UK WINNERS & LOSERS SUMMARY: Tremor Surges On Guidance Upgrade

Mon, 30th Nov 2020 10:44

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

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FTSE 100 - WINNERS

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JD Sports, up 6.4%. The atheleisurewear retailer is considering backing away from a possible offer to rescue financially on-the-brink retailer Debenhams, amid the looming collapse of Philip Green's Arcadia Group, the Times reported on Saturday. Arcadia, which runs the Topshop, Dorothy Perkins and Burton fashion store brands, is the biggest holder of concessions within Debenhams department stores, the newspaper noted.

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FTSE 100 - LOSERS

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BP, down 2.6% and Royal Dutch Shell 'A' and 'B' shares, down 1.7% and 1.8% respectively. Brent oil was quoted at USD47.32 a barrel, down from USD48.05 ahead of Monday's OPEC meet. "An extension to production quotas is expected but the producers’ cartel has confounded expectations in the past," said AJ Bell's Russ Mould.

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HSBC, down 2.1%. Lloyds Banking Group has picked HSBC's Wealth & Personal Banking head as its next chief executive. Lloyds Banking said Monday it has chosen Charlie Nunn as chief executive officer. Nunn is currently global chief executive for Wealth & Personal Banking at fellow lender HSBC. He joined HSBC in 2011, having also held roles including global chief operating officer of Retail Banking & Wealth Management and head of Wealth Management & Digital. Horta-Orsorio's departure after 10 years at the helm of Lloyds was announced back in June. He is aiming to leave by the end of June 2021. HSBC meanwhile said that HSBC Bank PLC Chief Executive Nuno Matos has been appointed chief executive of Wealth & Personal Banking to replace Nunn. It said that Kevin Martin, chief operating officer of Wealth Personal Banking, will step up to interim CEO of the division, effective immediately, while Matos's appointment is confirmed. Lloyds shares were up 0.4%.

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FTSE 250 - WINNERS

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Dunelm, up 6.2%. RBC upgraded the homewares retailer to Outperform from Sector Perform.

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Indivior, up 5.2%. The drugmaker was rebounding from Friday's 20% fall after Reckitt Benckiser submitted a GBP1.07 billion claim against the company. The claim related to an indemnity contained in the demerger agreement entered into between the two companies in November 2014. Indivior spun off from consumer health and hygiene firm Reckitt and listed on the London Stock Exchange in December of that year. Indivior said on Monday: "Based on the information available to it, Indivior strongly believes that the claim is without merit and that it has strong grounds for defending against the claim should it be served." If the claim is served, Indivior said it will "fully and vigorously" defend itself. The company will make further announcements when appropriate, including whether the claim is served.

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OTHER MAIN MARKET AND AIM - WINNERS

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Tremor International, up 25%. The advertising technologies firm increased its full-year guidance after record trading in October and November. Tremor said it has seen strong organic growth in the six months ending December 31, with October and November revenues being the "highest in the company's history". As a result, Tremor expects trading for the financial year to be "significantly" ahead of expectations. Tremor now expects full-year revenue of between USD390 million and USD400 million, up from the previously expected range of between USD340 million and USD360 million, which was announced in October. Adjusted earnings before interest, tax, depreciation and amortisation is now expected to be between USD50 million and USD52 million, up from the previously expected USD30 million to USD36 million. "The significant sales traction that the company continues to generate is underpinned by organic growth initiatives anchored within Tremor's most meaningful growth engines: Connected TV, Self-Serve and Private MarketPlace solutions, which have become integral to the company's rapid growth," Tremor said.

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By Lucy Heming; lucyheming@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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