DNL.L Share News (DNL)

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Monday.----------FTSE 100 - WINNERS----------Schroders, up 1.0%. The asset manager confirmed it is in discussions with Lloyds Banking Group to work "closely together" in the wealth sector. On Sunday, Sky News reported that Lloyds was planning to to inject its GBP13 billion wealth management arm into a new joint venture with Schroders. The deal would see Lloyds owning 50.1% of the new JV, with Schroders owning the rest, Sky said. The joint venture would be part of a three-pronged tie-up between the companies, with Schroders taking on a GBP109 billion investment management contract from Lloyds-owned Scottish Widows. However, Schroders stressed that there is no certainty that any formal agreement will be reached.----------FTSE 100 - LOSERS----------Halma, down 2.4%. Shore Capital downgraded its rating on the hazard detection firm to Hold from Buy.----------Vodafone, down 2.0%. Jefferies cut the telecommunications company to Hold from Buy.----------FTSE 250 - WINNERS----------Mediclinic International, up 1.0%. Investec raised the private hospital operator to Buy from Hold.----------FTSE 250 - LOSERS----------Lancashire Holdings, down 5.9%. The insurer said it expects to post a negative return on equity for the third quarter of 2018 due to losses from a number of recent natural disasters including hurricane Florence and typhoons Jebi, Mangkhut and Trami. Lancashire, which provides specialty insurance and reinsurance products, estimates losses from recent natural catastrophe events to be in a range of USD25 million to USD45 million. It also expects to record a USD30 million net loss from loss events in its marine portfolio. Other insurers were hit in a negative read-across following the update, with Hiscox down 1.5% and Beazley down 2.5%.----------IP Group, down 3.3%. The intellectual property business developer said investee Diurnal - in which it holds a 43.6% stake - reported its phase-three European trial of Chronocort did not meet its primary objective. Chronocort is intended to treat congenital adrenal hyperplasia, an orphan condition in which patients have a block in cortisol production. The goal of the phase three trial was to "demonstrate the superiority of Chronocort to conventional therapy", a goal which was not met as both Chronocort and conventional therapy proved equivalent. Diurnal shares were a sharp 55% lower.----------OTHER MAIN MARKET AND AIM - WINNERS----------French Connection, up 27%. The fashion retailer's shares rose after it confirmed potential sale of the company. "The board confirms it is currently reviewing all strategic options in order to deliver maximum value for its shareholders, which includes the potential sale of the company," the struggling retailer said in a statement responding to weekend press reports. French Connection, however, added that there can be no certainty over an offer, nor as to the terms of any offer. In September, French Connection recorded a widened loss in the first half of its 2019 financial year on the back of store closures and a "tough" retail trading environment in the UK.----------Mycelx, up 23%. The company, which provides clean water technology, raised both its annual revenue and profit forecasts on the back of a new purchase order and strong media sales. The award of a new purchase order from an affiliate of Saudi Arabian chemicals and plastics manufacturer SABIC, in addition to "stronger than expected" media sales have led to a new revenue forecast of between USD21.5 million and USD22.5 million. Mycelx also raised the range of its net profit forecast to between USD1.8 million and USD2.3 million, assuming no further contracts are awarded. In 2017 the company posted a net loss of USD1.2 million.----------OTHER MAIN MARKET AND AIM - LOSERS----------Amino Technologies, down 31%. The entertainment technology provider said it expects adjusted pretax profit for its current financial year to be around USD11.5 million, reflecting "an intensification of external macroeconomic headwinds". These headwinds have resulted in lower than anticipated orders, the company said, as well as higher than expected component price increases over the second half of the year. "In spite of the external market headwinds facing the company in the short term, the board maintains its current commitment to increase Amino's dividend by no less than 10% for the full year," the company said. For the year ended November 30, 2017, the company posted an adjusted pretax profit of GBP11.2 million. Amino changed its reporting currency to dollars earlier in 2018.----------