CYBG Share News (CYBG)

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Wednesday.----------FTSE 100 - WINNERS----------Mediclinic International, up 4.9%. The private healthcare provider said it expects full year revenue to be "marginally" ahead of expectations after a strong second half performance from its Middle East business and its South African unit producing results ahead of original forecasts. For its year ended March, Mediclinic expects adjusted earnings before interest, taxes, depreciation and amortisation to grow around 3% from the GBP501 million the year prior, implying around GBP516 million. Revenue is expected to increase around 4% to GBP2.90 billion from GBP2.75 billion the year before. This was described as "marginally" ahead of expectations due to a "significant" improvement within its Middle East business during the second-half of the year. Mediclinic added its South Africa unit had performed "ahead" of expectations. The company anticipates revenue to rise 5.0% to ZAR15.10 billion from ZAR14.40 billion the year prior.Rio Tinto, up 3.0%. The Anglo-Australian miner said productivity improvements and fewer weather disruptions resulted in higher iron ore production and shipments in the first quarter of the year. Rio also said copper production recovered following a labour union strike in the first half of last year at Escondida mine in Chile. The company's Pilbara mine located in western Australia recorded 8% year-on-year growth in iron ore production to 83.1 million tonnes for the three months to end-March, 69.1 million tonnes of which was net to Rio Tinto. Iron ore shipments rose 5% to 80.3 million tonnes, with net 66.6 million tonnes to Rio Tinto. Rio said it remains on track to meet 2018 shipments guidance of between 330 and 340 million tonnes. In addition, HSBC upgraded the stock to Buy from Hold. Smith & Nephew, up 2.3%. The medical devices maker said its centre in Watford is the first commercial surgical training facility in Europe to be accredited by the UK Royal College of Surgeons. This accreditation for its expert connect centre is "the gold standard", Smith & Nephew said, and follows an in depth assessment by the College. Smith & Nephew President of Europe & Canada Massimiliano Colella said: "This endorsement from the Royal College of Surgeons is a huge honour and recognition of the quality of our medical training and education. ----------FTSE 250 - WINNERS----------Polymetal International, up 7.7%. The Russian miner said it had produced 295,000 ounces of gold equivalent in the first quarter of 2018, 5% higher year-on-year. Gold production was up 8% to 214,000 ounces, with silver dipping 3% to 6 million ounces. First quarter revenue increased 19% to USD354.0 million driven by volume growth, higher prices, and lesser impact from seasonal refinery closures compared to 2017. It is on track, it said, to produce 1.6 million ounces of gold equivalent in 2018, and cost guidance is reiterated at USD650.00 to USD700.00 per gold equivalent ounce.Hochschild Mining, up 6.8%. The miner reported a record first quarter for attributable production, with output reaching 4.7 million ounces of silver and 69,030 ounces of gold. This strong performance, it said, came despite a scheduled annual stoppage at its San Jose mine. Hochschild is on track to meet its 2018 production target of 514,000 gold equivalent ounces with all-in sustaining cost guidance reiterated at USD960.00 to USD990.0 per gold equivalent ounce.----------FTSE 250 - LOSERS----------CYBG, down 6.3%. The lender said it will increase its provision for payment protection insurance claims by GBP350 million due to increased level of complaints and certain time consuming and more complicated cases. The increased PPI provision will cover costs for closing out final cases, additional new customer complaints, and costs for administering redress programmes. CYBG, which owns Clydesdale Bank and Yorkshire Bank, intends to recognise a pretax charge of GBP202 million in the six month period ended March due to the additional PPI provision. The charge is expected to result in a pro forma reduction in Common Equity Tier 1 ratio of 100 basis points, bringing it below the company's guidance range of 12% to 13%. The company expects the level of complaints to remain at an elevated level for a period of time, followed by a reduction in volumes and costs as the deadline for PPI complaints approach in August 2019.Jupiter Fund Management, down 4.8%. The asset manager reported a drop in first quarter assets under management. Jupiter posted net outflows totalling GBP1.25 billion in the period, as well as a GBP2.08 billion negative market return. Assets under management at March-end totaled GBP46.85 billion, down from GBP50.18 billion at the end of 2017. Net outflows totalled GBP929.9 million from mutual funds, GBP306.0 million from segregated mandates, and GBP15.0 million from investment trusts. Jupiter said this challenging start to 2018 has come after a strong 2017, and it will continue to diversify its products, client types, and geographic spread to grow. Intu Properties, down 4.5%. The shopping mall operator said it regarded the explanation that peer Hammerson gave for looking to pull out of its GBP3.40 billion acquisition for Intu as "unsatisfactory". Intu emphasised Hammerson had reaffirmed its intention to proceed with the acquisition in mid-March. At the time, Hammerson said it was "fully committed" to the deal which it believed would "deliver significant value for Hammerson shareholders". Hammerson said despite the "strategic rationale" of the deal as announced in December "the board has now concluded that the proposed Intu acquisition is no longer in the best interests of shareholders. The board therefore today announces it is withdrawing its recommendation to Hammerson shareholders to vote in favour of the Intu acquisition." Hammerson said it took the decision due to a deterioration in the perception of the UK retail property market dynamics prospects since the deal was announced. Hammerson was up 2.5%.----------OTHER MAIN MARKET AND AIM - WINNERS----------Dignity, 18%. The funeral services provider said the performance in its first quarter was well ahead of expectations following January's profit warning. In the first quarter of 2018, revenue was approximately GBP95.0 million compared to GBP93.0 million in the same period a year earlier, while earnings before interest and tax was in line with the year before at GB37.5 million. Despite the lack of earnings growth, this was well ahead of expectations, given January's profit warning. Dignity in January said it expected trading for 2018 to be below market expectations, due to increased price competition facing its business.----------OTHER MAIN MARKET AND AIM - LOSERS----------De La Rue, down 3.6%. The banknote printer said it will not be appealing its lost UK passport contract, having "considered all options". In March, De La Rue lost its ten year contract with the Home Office to make UK passports to French firm Gemalto. De La Rue is expecting revenue for its year ending March to increase 6% year-on-year, with growth across all product lines. Underlying operating profit is expected in the low to mid GBP60s million range, it said.----------