LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Tuesday.----------
FTSE 100 - WINNERS----------
Aviva, up 1.8%. The insurer said it remains on track to achieve its target of operating earnings per share rising by at least 5% in 2018, from 54.8 pence in 2017, as it announced the departure of its chief executive. The company said Mark Wilson stepped down as CEO with immediate effect but will remain with the group until April 2019 and will assist with facilitating an orderly transition. Wilson has been chief executive at Aviva since January 2013. The search for a permanent successor has started, and during the transition period Non-Executive Chairman Adrian Montague will take up executive responsibilities until a successor is found.----------
Schroders, up 1.7%. The asset manager was raised to Buy from Hold by Berenberg. On Monday, Schroders had confirmed it is in discussions with Lloyds Banking to work "closely together" in the wealth sector, closing down 0.8%.----------
Direct Line Insurance, up 1.5%. Deutsche Bank upgraded the insurer to Buy from Hold. ----------
FTSE 100 - LOSERS----------
Sage Group, down 3.5%. Barclays downgraded the accounting software provider to Underweight from Equal Weight.----------
FTSE 250 - WINNERS----------
Greggs, up 6.9%. The bakery chain said it traded well in the third quarter, which was affected by hot weather, as expectations for the full year remain unchanged. Greggs said hot weather made sales patterns more difficult to predict in the 13 weeks to September 29 resulting in lower-than-normal trading margin in the first part of the quarter, offset by improved trading in September. Like-for-like sales in company-managed shops for the three-month period increased 3.2% versus 5.0% in the year ago period. Total sales grew by 7.3% versus 8.6%. In the year-to-date, same store sales were up 2.1%, with total sales growing 5.9%. ----------
Ferrexpo, up 3.1%. The iron pellet producer said successful completion of pellet line refurbishment has led to a 6% quarter-on-quarter rise in pellet production. For the three months to September-end, the company's pellets production from its own ore totalled 2.7 million tonnes, versus 2.5 million tonnes in the second quarter. Year-to-date, pellet production from own ore increased by 1.4% to 7.7 million tonnes from 7.6 million tonnes the same period a year ago. The company did not produce any iron pellets from third-party materials in the quarter. Total year-to-date pellet production, including production from third party materials, rose 1.3% to 7.6 million tonnes.----------
John Wood Group, up 2.9%. The oilfield services company said it has secured several midstream energy sector contracts year-to-date across the US worth USD250 million in total. Under the contracts, the oil field services company will provide construction, fabrication, engineering and operations & maintenance services to clients for a range of pipeline services, shale facilities, infrastructure and onshore engineering projects.----------
OTHER MAIN MARKET AND AIM - WINNERS----------
Serica Energy, up 34%. The oil and gas company secured US approval to continue operating a North Sea field jointly with Iranian Oil Co, thereby avoiding sanctions and potential supply crunch in the UK. The company's unit Serica Energy (UK) and oil major BP have received a conditional license and assurance from the US Office of Foreign Assets Control relating to the UK North Sea Rhum field. Serica Energy is in the process of buying BP's stake in Rhum field. It is also buying stakes in two other North Sea fields - Bruce and Keith fields - from Total E&P UK, a unit of French oil giant Total. "Subject to the fulfilment of the conditions, the license will allow certain US and US-owned or controlled entities to provide goods, services and support involving Rhum," Serica said, adding that the US decision will enable production from the Rhum field to continue unaffected. The OFAC licence is valid until October 31, 2019, but may be renewed on application by Serica UK assuming the conditions continue to be met.----------
Cenkos Securities, up 11%. The stockbroker said Chief Executive Anthony Hotson will step down at the end of the month after just a little over a year in the role, but will remain an employee of the company until December 31. The company did not provide any specific reason for Hotson's departure but said a successor for Hotson will be announced shortly. Hotson, a former economist at the Bank of England, was appointed as chief executive in August last year.----------
Robert Walters, up 6.5%. The recruiter said net fee income for its third quarter rose 13% at constant currency, driven by strong performances in Europe and Asia Pacific, amid a "record" performance. For the three months ended September, net fee income rose 12% to GBP101.2 million from GBP90.7 million the year prior. In constant currency, net fee income rose 13%. Net fee income grew across all three of its main regions. Strongest growth, however, was from Europe, which grew 22% at constant currency and 21% in reported currency, respectively. Its largest region by net fee income - Asia Pacific - also saw 18% constant currency and 15% reported currency growth in the quarter. ----------
OTHER MAIN MARKET AND AIM - LOSERS----------
Wolf Minerals, down 31%. The metals producer warned it would be unable to meet working capital requirements if it cannot come to an agreement on funding. Wolf Minerals expects to conclude talks with key financial stakeholders for longer term funding solutions later on in the week. At the end of July, Wolf Minerals increased its existing bridge facility to GBP69 million from GBP65 million, and agreed a standstill with lenders over outstanding fees and default matters, and the deferral of principal and interest payments of GBP2.1 million until October 28. Wolf Minerals said it also agreed with Resource Capital Fund VI for a further GBP4 million secured priority loan, which could go up to GBP5 million. This new financing was to keep the company going until October 28.----------
Mayan Energy, down 16%. The oil and gas company said development activity will be put on hold as it conducts a review of its assets for allocation of funds. Chairman Paolo Amoruso said that following the board reorganisation that took place on Friday last week, Mayan Energy would review its assets to determine how its financial resources should be distributed. As a result, development activity will be put on hold, including the re-completion and reassessment of work scheduled for the Austin Chalk Wells in Gonzalez Country, Texas. In the second half of October, a team will be sent to visit all field operations, and plans will be drawn up afterwards for increasing the current production and field development, Mayan said.----------
