LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Wednesday.
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FTSE 100 - WINNERS
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Hargreaves Lansdown, up 4.9%. The fund supermarket reported higher net new business inflows, client numbers and net revenue, though assets under administration were down 11% to GBP54.7 billion in the quarter ended September 30 amid lower stock markets and weakness in investor confidence. Chief Executive Ian Gorham said he was particularly pleased with trading in the company's first quarter amid lower stock markets and weakness in investor confidence amid concerns about China's economy.
Intertek Group, up 2.3%. The testing and certification company said it has agreed to buy US-based Professional Service Industries for USD330 million in cash. Intertek expects the acquisition to bolster its earnings per share in the first full year after completion of the acquisition in December. The deal will be funded with debt facilities already in place. PSI is currently majority owned by private equity firm Olympus Partners.
Fresnillo, up 1.4%. The miner said that gold and silver production both rose in the first nine months of 2015 after the Herradura site in Mexico became operational, and it experienced higher grades and processing volumes, leading it to reiterate its full-year guidance.
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FTSE 100 - LOSERS
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Standard Chartered, down 2.0% at 723.90 pence. UBS cut its price target on the emerging markets bank to 800 pence from 1,200p, with analysts factoring in a "more comprehensive" balance sheet restructuring. New Chief Executive Bill Winters is expected to set out his strategy for Standard Chartered before the end of 2015, with UBS calling on him to address the bank's asset quality and to lay out a clear path to higher returns after a tough couple of years. One key question for Winters is whether the bank will raise equity capital in its turnaround effort. UBS remains Neutral on the stock.
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FTSE 250 - WINNERS
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Al Noor Hospitals Group, up 19%. A deal has been reached on a possible reverse takeover by South Africa's Mediclinic International, which would value Al Noor at around GBP1.36 billion. The move stands to create an international private healthcare group in Southern Africa, Switzerland and the UAE, as well as having exposure to the UK market through its minority stake in Spire Healthcare Group, up 2.7%. Rival bidder and London-listed peer NMC Health, up 2.0%, quickly said however that it remains committed to its offer for Al Noor.
Domino's Pizza Group, up 14% at 1,014.00 pence, having earlier touched an all-time high of 1,064p. The takeaway pizza company said it now expects its full-year results to be ahead of expectations following a solid start to the fourth quarter. News of the improved guidance came as the company reported that group system sales grew 19% in the 13 weeks to September 27 to GBP214.5 million from GBP179.6 million in the same period the year before. In the nine months to the same date, group system sales were up 16% to GBP641.2 million from GBP554.6 million. Like-for-like sales growth in each of its operating regions comprising the UK, Republic of Ireland, Switzerland and Germany.
N Brown Group, up 6.8%. The online, catalogue and stores retailer, which trades under multiple brands including House of Bath, SimblyBe, Jacomo, and figleaves.com, said its pretax profit in the half year ended August 29 dropped by over half to GBP19.4 million from GBP42.7 million the year before, which it said was due to exceptional costs relating to the closure of 18 clearance stores. It said it will significantly lower exceptional costs in the second half of the year to between GBP2 million and GBP3 million. The company said it is on track with its "transformation" into a "truly digital first, specialist-fit, fashion retailer."
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FTSE 250 - LOSERS
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Tullow Oil, down 3.2%. Macquarie, an Australian bank, cut its rating on the oil producer to Neutral from Outperform.
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MAIN MARKET AND AIM - WINNERS
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Connect Group, up 5.4%. The specialist distributor reported higher adjusted pretax profit in its last financial year, driven by the acquisition of parcel freight division Tuffnells for an initial GBP113.4 million completed in December 2014. Connect, which also operates News & Media, Books, and Education & Care divisions, said that pretax profit rose to GBP56.5 million from GBP50.0 million in the year ended August 31 when adjusted to exclude one-off costs and other items, as revenue grew to GBP1.88 billion from GBP1.81 billion.
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MAIN MARKET AND AIM - LOSERS
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Sula Iron & Gold, down 32% at 0.34 pence. The miner conditionally raised GBP500,000 from a large, discounted placing to allow it to conduct a detailed drilling programme ahead of a potential deal with "one of the world's largest gold producers". It issued over 166.6 million new shares at 0.3p per share, and said for every two placing shares issued it will also issue a warrant for one further new share at an exercise price of 0.6p per share.
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By Samuel Agini; samagini@alliancenews.com; @samuelagini
Copyright 2015 Alliance News Limited. All Rights Reserved.
28 Jun 2016 15:06
