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Pin to quick picksEssentra Share News (ESNT)

Share Price Information for Essentra (ESNT)

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UK WINNERS & LOSERS SUMMARY: Travel Stocks Wobble On Lockdown Fears

Fri, 18th Sep 2020 10:56

(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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Fresnillo, up 4.3% The Mexican gold miner was tracking the price of the precious metal higher, quoted at USD1,955.00 in London on Friday, up from USD1,946.60 late Thursday.

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FTSE 100 - LOSERS

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International Consolidated Airlines, down 10%. Travel stocks were lower on lockdown fears. A second national lockdown to curb the spread of coronavirus has not been ruled out but the "great hope" is that people will heed current advice to help manage a "very serious" situation, the UK's health secretary has said. Michael Hewson at CMC Markets said: "Talk of new localised and targeted lockdowns, as well as curfews and quarantines appear to be becoming more commonplace, raising concerns about the resilience of the recovery we've seen thus far across Europe...Travel stocks are also coming under pressure again on the back of talks of new lockdowns, quarantines and curfews with IAG and easyJet leading the fallers." easyJet was down 7.3%.

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FTSE 250 - WINNERS

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John Laing Group, up 5.1%. The infrastructure investor said it has agreed to sell its entire 30% stake in a UK rail programme for up to GBP421 million in cash. The sale consideration represents a strong uplift on the GBP333 million valuation of the stake as at June 30, John Laing noted. The transaction will complete in two stages. The first stage, which represents the sale of a 15% interest in the rail programme, will generate GBP203.4 million for John Laing. The remaining 15% interest will take place up to 12 months later at John Laing's election and will generate up to GBP217.6 million. John Laing said it will return 5% to 10% of gross proceeds from the sale to investors on an annual basis, as per the company's dividend policy.

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FTSE 250 - LOSERS

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Essentra, down 8.3%. The plastics and fibre products maker has raised GBP100 million through an share sale, which will go towards the acquisition of North Carolina-based 3C! Packaging, which provides packaging and labels with a pharmaceutical focus. Essentra issued a total of 38.5 million shares through a placing, subscription and PrimaryBid retail offer at a price of 260 pence, reflecting a discount of 8.8% to Essentra's closing price on Thursday of 285.00p. Essentra issued 37.2 million shares through a placing conducted by Jefferies International and Peel Hunt. In the PrimaryBid offer, 1.2 million shares were issued, and several directors took part in the subscription of 88,459 shares. The total amount of shares issued represents around 15% of Essentra's share capital before the fundraise.

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OTHER MAIN MARKET AND AIM - LOSERS

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TT Electronics, down 7.5% at 196.03 pence. The manufacturer of electronic components said it has raised GBP20 million under a discounted share placing to part-fund the acquisition of US-based designer and manufacturer of power and electro-magnetic assemblies Torotel. The company has issued 10 million shares at 200 pence each, a 5.7% discount to Thursday's closing share price of 212 pence each. The placing represents 6.1% of the company's existing issued share capital. TT Electronics said Chair Warren Tucker bought 37,500 shares, Chief Executive Officer Richard Tyson 15,000 shares and Chief Financial Officer Mark Hoad 25,000 shares under the placing. Non-Executive Director Anne Thorburn bought 15,000 shares. The company on Thursday had announced the deal to buy Torotel for USD43.4 million and simultaneously launched a share placing to part fund the acquisition.

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By Lucy Heming; lucyheming@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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Citigroup downgrades Essentra after profit warning

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