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WINNERS & LOSERS SUMMARY: Astra Higher On Positive Heart Trial Results

Mon, 02nd Sep 2019 10:43

(Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Monday.

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FTSE 100 - WINNERS

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AstraZeneca, up 2.7%. The pharma giant reported positive study results for two separate treatments for prevention of cardiovascular events, particularly heart attacks in patients with or without type-2 diabetes. Astra said Phase III THEMIS trial showed Brilinta, or ticagrelor, plus aspirin reduced the relative risk of cardiovascular death, heart attack, or stroke by 10% compared with aspirin alone in patients with coronary artery disease and type-2 diabetes. The study also showed 15% relative risk reduction for cardiovascular events with patients who had previously undergone a percutaneous coronary intervention, a procedure to open a blocked or narrowed coronary artery. Separately, the company detailed results from the Phase III DAPA-HF trial showed Farxiga, or dapagliflozin, on top of standard of care reduced both the incidence of cardiovascular death and the worsening of heart failure in patients with reduced ejection fraction, with and without Type-2 diabetes. Astra, in August, reported topline results for DAPA-HF trial which met the primary endpoint. Farxiga is currently approved to treat patients with Type-2 diabetes. Farxiga study results showed a 30% decrease in the risk of experiencing a first episode of worsening heart failure and an 18% decrease in the risk of dying from cardiovascular causes, Astra noted.

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FTSE 100 - LOSERS

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Marks & Spencer, down 1.0%. Goldman Sachs resumed its coverage of the retailer with a Sell recommendation. M&S is threatened with relegation from the FTSE 100 index in this week's quarterly review.

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FTSE 250 - WINNERS

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Amigo Holdings, up 3.6%. The loan provider continued to claw back some of last Thursday's sharp declines. Amigo added 10% on Friday but had lost 52% on Thursday, after having slashed its loan book growth forecasts. Amigo Chief Executive Hamish Paton acquired 50,000 shares in the firm on Friday at 79.72 pence, for a total of GBP39,815.

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Woodford Patient Capital Trust, up 1.9%. The company hired Jane Tufnell as independent non-executive director as the Neil Woodford-led investment trust continues to deal with the fallout from its open-ended sister fund freezing redemptions in June. At the beginning of June, Woodford took the decision to suspend withdrawals from his equity income fund due to "an increased level of redemptions", with the fund now needing time to "reposition" its portfolio invested in unquoted and less liquid stocks into more liquid investments. Tufenll co-founded Ruffer Investment Management. Susan Searle, chair of Woodford Patient, said Tufnell's fund management expertise and familiarity with investment trusts will bring "valuable experience" to Woodford Patient.

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FTSE 250 - LOSERS

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Sequoia Economic Infrastructure Income Fund, down 1.7%. The firm said it intends to raise funds through a placing in order to repay outstanding debt and work on a pipeline of investment opportunities. Sequoia intends to issue up to 125.0 million shares, with the price per share to be announced on or around Friday next week alongside the fund's net asset value as at August 30. As at July 31, Sequoia's net asset value per share stood at 104.03 pence. At the fund's current share price, a 125.0 million share placing would raise around GBP143.1 million. Proceeds from the placing will go towards repaying outstanding debt under the revolving credit facility, which will allow Sequoia's investment adviser Sequoia Investment Management to re-draw the funds for use in the investment pipeline. As at Monday, Sequoia has cash of GBP46.8 million and outstanding drawings on the revolving credit facility of GBP161.4 million.

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OTHER MAIN MARKET AND AIM - WINNERS

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Distil, up 16%. The wine and spirits distributor said it has launched a ready-to-drink RedLeg Spiced rim and 1886 Cola, in collaboration with soft drink, tonic and mixer company Franklin & Sons. Franklin & Sons is owned by Global Brands Ltd. Distil said the drinks will be available "shortly" through a "major" UK retailer. The 250 millilitre can contains 5% alcohol by volume. "Ready-to-drink rum and cola is more on trend now than ever before," commented Distil. Distil said the pre-mixed spirit and mixer category grew sales by 30% during the year ended July. Meanwhile, the spiced rum sector has grown just under 13% over the same period. Executive Chair Don Goulding added: "This new in-market brand collaboration sees RedLeg Spiced Rum continue to innovate and introduce new consumers to the brand through flavour, packaging and format development. It provides consumers with a perfect RedLeg Spiced Rum and 1886 Cola on the go, without compromising on taste."

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21st Century Technology, 11%. The transport software systems provider has been awarded a contract by the East Sussex County Council to supply, install and support real-time passenger information technology and content management software. The contract has an initial value of GBP500,000 and will begin this month, running for three years. East Sussex is working with Brighton & Hove City Council, West Sussex County Council and Surrey County Council to introduce a content management system for their new electronic passenger information software platform.

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OTHER MAIN MARKET AND AIM - LOSERS

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BP Marsh & Partners, down 18%. The private equity firm said its investee LEBC Holdings has voluntarily decided to stop the provision of defined benefit pension transfer advice. BP Marsh holds a 59% interest in LEBC. LEBC decided to close its DB pension business following a review by the UK Financial Conduct Authority. BP Marsh said it is working with the management of LEBC to "evolve the business". BP Marsh expects LEBC's valuation to reduce but does it not expect its own net asset value per share to be greatly affected due to its "diverse portfolio" and the "strong performance delivered by a number of its investee companies in recent months".

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Pires Investments, down 7.8%. The investment company will seek shareholders approval to amend its investment policy at its upcoming annual general meeting in October. Pires' current policy focuses on the resources and energy sectors. Now, however, the company wants its policy to include the technology sector. In anticipation of this change, Pires has agreed in principle to invest GBP1.1 million in software venture capital fund Sure Valley Ventures. "The directors believe that the proposed investment is an attractive and effective way to develop a core holding of investments in the technology sector and allow the company to access the expertise of the SVV management team to assist with further investments in this sector," Pires added.

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