(Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Friday.
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FTSE 100 - WINNERS
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Vodafone, up 1.9%. Jefferies upgraded the telecommunications firm to Buy from Hold.
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FTSE 100 - LOSERS
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Hargreaves Lansdown, down 3.3%. Peter Hargreaves, the co-founder of the company, has sold GBP550 million worth of stock in the fund supermarket, via an accelerated share bookbuild offering to institutional investors. He sold 34.4 million shares at a price of 1,600.00 pence per share. Hargreaves Lansdown was trading at 1,653.00p on Friday mid-morning. Following the sale, Peter Hargreaves still holds an interest in about 24% of the company's issued share capital. The placing was extended from the original GBP500 million Hargreaves was hoping to raise due to "strong investor demand". Peter Hargreaves said the sale is part of a "process of long-term financial planning" to diversify his assets. "I remain, and will continue to be, a substantial shareholder in Hargreaves Lansdown. I am very proud of the business that I co-founded and helped build."
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Burberry, down 1.6%. The luxury fashion retailer said the outbreak of coronavirus in China is having a negative effect on demand for its luxury goods. Burberry said 24 of its 64 stores on the Chinese mainland are closed, with the remaining stores experiencing a significant decline in customer visits. Although the spending patterns of Chinese customers across Europe hasn't been affected, Burberry said it expects the situation to worsen due to widening travel restrictions. The company noted that the benefit of actions taken to mitigate the negative impact will be limited due to the proximity to the end of its financial year in March.
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FTSE 250 - WINNERS
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Mitchells & Butlers, up 2.5%. Berenberg raised the pub owner to Buy from Hold.
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FTSE 250 - LOSERS
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Pets at Home, down 3.2%. The pet store named Ian Burke as its new non-executive chair, taking over from Tony DeNunzio at the start of the new financial year. Burke is currently chair of home shopping firm Studio Retail Group, a role he has held since 2017, and is also a non-executive director at shopping centre owner Intu Properties, which was trading down 7.2%. He had a "long tenure" on the board of gambling firm Rank Group, where he had been chair and chief executive officer. He also was CEO of Thistle Hotels. In addition, Burke was formerly chaired privately owned veterinary group Vet Partners. Pets At Home said incumbent Tony DeNunzio will remain in the role during a handover period, before calling time on a 10-year stint as chair of the pet supplies and veterinary firm.
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Royal Mail, down 3.0%. Berenstein cut the stock to Underperform from Market-Perform. The stock lost 5.5% on Thursday after a profit warning.
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OTHER MAIN MARKET AND AIM - WINNERS
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DP Poland, up 28%. The operator of Domino's Pizza stores in Poland said its performance improved in 2019 and it expects the trend to continue despite strong competition. The AIM-listed firm reported sales growth of 13% to PLN81 million, about GBP16.1 million, in 2019 from PLN72 million a year earlier. On a like-for-like basis, revenue grew by 3% over the year. DP Poland said its store numbers grew in 2019 to 69 from 63 in 2018.
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OTHER MAIN MARKET AND AIM - LOSERS
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Countrywide, down 4.2%. The estate agent said that the completion of the sale of its commercial real estate consultancy firm Lambert Smith Hampton has been delayed. In November, the UK estate agent sold Lambert Smith Hampton to Great Global Holdings for GBP38 million in cash. Milton Keynes-based Countrywide said that the delay comes as a result of Great Global Holdings founder John Bengt Moeller "being indisposed during January", as well as "logistical difficulties relating to the transfer of the requisite completion monies". The company added that it has been assured by Moeller that the sale will be completed soon. The transaction was initially expected to complete at the end of December.
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By Paul McGowan; paulmcgowan@alliancenews.com
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