Echo Energy Share News (ECHO)

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Tuesday.----------FTSE 100 - LOSERS----------TUI, down 3.8%. The Anglo-German travel operator reported a significantly widened first-quarter loss, having under a week ago warned on full-year earnings. The firm's pretax loss for the three months to December stood at EUR135.0 million, versus a EUR84.3 million loss for the same period a year prior. Revenue did increase, however, by 4.4% year-on-year to EUR3.70 billion. This performance, TUI said, met expectations after a "record" last financial year. First quarter revenue, and volumes, have grown, but margins have slipped. Last week, TUI said "extraordinarily" hot weather during the summer of 2018 meant earnings for its year ending September 2019 will be flat. Looking ahead, bookings are in line year-on-year, but TUI reiterated margins will fall on its prior year. TUI had previously expected 2018's issues to only affect its first half, but it now sees the impact spilling into its second half. "The impact of common denominators such as weather and value of the pound has got the rest of the airlines spooked, with easyJet and IAG joining TUI in the red," IG Group's Joshua Mahony said. IAG and easyJet were down 1.0% and 1.1% respectively. Smaller travel peer Thomas Cook was down 4.8%.----------FTSE 250 - WINNERS----------Sanne Group, up 2.5%, Big Yellow Group, up 1.%. HSBC started coverage on the hedge fund administrator and on the self storage company with Buy ratings. ----------FTSE 250 - LOSERS----------Plus500, down 30%. The contracts-for-difference trading provider warned earnings in 2019 will be "materially lower" due to increased spending and new EU regulations. Plus500 said 2019 revenue is expected to be lower than current market expectations following its latest assessment of European Securities & Markets Authority regulatory measures. The company lowered its profit guidance due to the lower revenue and planned higher marketing spend, saying 2019 profit will be "materially lower than current market expectations". Plus500 said it has "fully adjusted" to the new industry regulations and welcomes the "significant" measures introduced by the European regulators. Peers IG Group and CMC Markets were down 5.1% and 1.0% respectively. ----------Indivior, down 3.0%. The addiction treatment specialist said a US court has denied the company's stay appeal on a previous ruling vacating an injunction against Indian pharmaceutical company Dr Reddy's Laboratories. Dr Reddy's has been developing a generic buprenorphine/naloxone treatment, based on Indivior's Suboxone, with Indivior trying to halt development in court. Indivior believes that if Dr Reddy's launches its generic product, it will lose up to 80% of its market share "within a matter of months". The US Court of Appeals for the Federal Circuit has denied Indivior's motion to stay issuance of the mandate following its ruling vacating the preliminary injunction granted against Dr Reddy's based on Indivior's US patent. Indivior said it will now file a stay petition on circuit court ruling vacating injunction against Dr Reddy's with the US Supreme Court.----------Britvic, down 2.4%. The soft drinks maker was cut to Equal Weight from Overweight by Morgan Stanley. ----------Clarkson, down 2.2%. HSBC started coverage on the shipping services company with a Hold rating. ----------OTHER MAIN MARKET AND AIM - WINNERS----------Debenhams, up 37%. The troubled department store chain said it has secured an extension to its credit facilities and inked a sourcing partnership with Li & Fung, a Hong Kong-based supply chain manager primarily for US and EU retail chains. Debenhams has agreed a new GBP40 million credit facility for 12 months with its existing lenders, it said. The new loan fully utilises permissions within the terms of the company's current revolving credit facility and loan notes. The retailer said the new loan facility will act as a bridge to facilitate a broader refinancing and recapitalisation, and the company is continuing to engage constructively to conclude a comprehensive refinancing. "Debenhams has received a stay of execution, obtaining a 12 month credit facility. This will allow the struggling department store to carry out further refinancing," said City Index analyst Fiona Cincotta.----------Mporium Group, up 15%. The marketing technology group reported making high levels of revenue in the past two weeks, due to its new partnership with claims management firm Allay. In late January, Mporium signed an agreement with Allay to be its exclusive supplier of new customers and lead generation through Mporium's "pay-for-performance" business platform. Lead generation is the process of identifying potential consumers of a particular product or service. The group said it has made a strong start on the Allay partnership, leading to significant benefits for Mporium. For each of the past two weeks, Mporium reported revenue in excess of GBP1.0 million. Mporium compared this to its entire half-year to the end of June 2018, during which revenue totalled GBP1.2 million.----------OTHER MAIN MARKET AND AIM - LOSERS----------Echo Energy, down 40%. The oil and gas company said it did not recover any hydrocarbons from the mechanical stimulation and testing operations of well EMS-1001 at its Fraccion C licence, onshore Argentina. The well stimulation programme has been completed, with Echo believing the interpreted hydrocarbons present in the section "are not mobile". Echo said the EMS-1001 location is "not commercial" and no further testing is planned. The well will now be shut-in. "The disappointing results of the EMS 1001 stimulation have demonstrated the challenges of working in a new volcaniclastic play," said Managing Director Martin Hull. ----------