Chemring Share News (CHG)

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Monday.----------FTSE 100 - WINNERS----------BAE Systems, up 0.8%. Morgan Stanley raised the defence company to Overweight from Equal Weight.----------Shire, up 0.5%. The Irish drugmaker said its Japanese partner Shionogi & Co has submitted a new drug application for the manufacture and marketing of Intuniv in Japan. The application is for the use of the drug to treat attention deficit hyperactivity disorder in adults, and has already been approved for use as treatment by those in the age of six to 17 years old since March 2017. A phase three clinical trial was conducted to evaluate the results of using Intuniv in adults, which met its primary endpoint by demonstrating superiority over placebo in the improvement of ADHD symptoms. Intuniv has been co-developed and commercialised by Shionogi and Shire, under a licensing contract first signed in 2011. The drug is currently approved in 36 countries, including Australia, Canada, Switzerland and the US.----------FTSE 100 - LOSERS----------Paddy Power Betfair, down 3.4%. Citigroup downgraded the bookmaker to Sell from Neutral. ----------FTSE 250 - WINNERS----------Clarkson, up 11%. Liberum raised the shipping company to Buy from Hold expressing confidence in Clarkson's short-term outlook. For the six months ended June 30, Clarkson said revenue was down 2.7% to GBP152.6 million from GBP156.8 million a year before. Pretax profit declined 18% to GBP18.0 million from GBP21.9 million last year. The company did highlight that conditions in some of its markets improved in the second quarter, with Clarkson standing to benefit from these trends over the remainder of the year. While this pick-up in activity is necessary to meet full-year forecasts, the broker is nonetheless more confident in Clarkson's short term outlook following the half-year results. "We assume a return to profit growth in 2019 on more normal levels of activity compared with the quiet first quarter in asset broking markets this year. We see upside risk to our longer-term estimates," said Liberum.----------OTHER MAIN MARKET AND AIM - WINNERS----------Rockfire Resources, up 4.3%. The mineral exploration company said it has added significant acreage to its holdings in Australia. Rockfire has been granted the Kookaburra exploration permit in Queensland. The new Kookaburra permit surrounds Rockfire's existing Lighthouse tenement there. The exploration permit lasts for five years over an area, Rockfire noted, which has produced over 20 million ounces of gold and has three other "multi-million" ounce producing gold mines. Previous drilling found 12 metres at a grade of 2.7 grammes of gold per tonne of ore, and three metres at 5.1 g/t gold. Overall, it adds 232 square kilometres to Rockfire's portfolio.----------OTHER MAIN MARKET AND AIM - LOSERS----------Chemring Group, down 14%. The defence countermeasures maker warned on its annual profit after a fatal accident at a factory in Salisbury on Friday. Chemring said the worker was killed, and another "badly" injured at its flare manufacturing building. The incident damaged some equipment and production is now temporarily halted. Chemring has started an investigation into the accident, as well as the potential financial ramifications. It said deliveries by Chemring Countermeasures had been expected to be GBP25 million in final quarter of Chemring's financial year, making a contribution of GBP15 million. "The impact on our 2018 and 2019 financial years cannot be accurately quantified at this stage as it will be dependent on insurance recoveries, the timeline for the investigation to be completed and the site to re-open, remediation work to be completed and at what rate production resumes," Chemring said. ----------Plus500, down 7.6%. The contract-for-difference provider said it experienced a "record first half" as revenue and profit more than doubled, but warned the stellar performance is unlikely to be repeated. For the six months to June 30, the company posted revenue up to USD465.5 million from USD188.4 million the prior year, on the back of an "exceptional first quarter" combined with good second quarter performance, Plus500 said. The company also said it is aligned with the regulatory changes implemented since the beginning of August by the European Securities and Markets Authority and "believes these changes will enhance the contract-for-difference trading landscape and create a more level competitive playing field". Plus500 added that the change in regulation could "potentially affect less than half of European Economic Area revenues in the short term".----------Fusion Antibodies, down 30%. The drug discovery company said that trading for the year ending March 31, 2019 has been slower due to increased competition, pricing pressures and large contract delays, leading to performance for the year expected to be significantly below current market expectations.----------