(Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Thursday.
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FTSE 100 - LOSERS
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DS Smith, down 5.3%, Kingfisher, down 3.9%, British American Tobacco, down 3.9%, Taylor Wimpey, down 3.7%. The stocks went ex-dividend meaning new buyers no longer qualify for the latest payout.
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FTSE 250 - WINNERS
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Finablr, up 2.9%. The cross-border payments group and Samsung Electronics America launched the Money Transfer feature in Samsung Pay. Samsung Electronics America is a subsidiary of Samsung Electronics Co, a South Korean TVs, smartphones, tablets, laptops and home appliances manufacturer. Money Transfer in Samsung Pay - a digital wallet service - is available now in the US and will be expanded to further markets in 2020, Finablr said. This new in-app international money transfer service offers users seamless and secure cross-border payments to 47 countries through a variety of payout methods, the partners highlighted.
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FTSE 250 - LOSERS
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Centamin, down 11%. The gold miner said long-serving Chief Executive Andrew Pardey intends to retire. The Nomination Committee, chaired by Edward Haslam, is initiating a search process to find a new CEO. Pardey will continue with his responsibilities, Centamin noted, while assisting the search process and facilitating an orderly handover to the appointed successor, within his 12-month notice period. Turning to third-quarter production, Centamin previously had reported that it was behind expectations, primarily due to reduced open pit mining rates on the higher-grade stage 4 west wall. Centamin said it expects total gold production for the three months to the end of September to be between 97,000 and 98,000 ounces, bringing production for the first nine months of 2019 to between 331,000 and 332,000 ounces. During the third quarter, there have been significant changes to the operational team at Sukari, Centamin said, and with the planned mining of higher-grade material from the open pit and underground, the lower end of annual guidance range - 490,000 ounces - "remains achievable".
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Hays, down 5.2%. The stock went ex-dividend.
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OTHER MAIN MARKET AND AIM - WINNERS
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CMC Markets, up 6.3%. The online trading company said it expects an increase in full-year profit after positive first-half trading, as Australia is poised to add new regulatory measures to contracts-for-difference and binary options trading. CMC said net trading revenue was strong in the six months to September 30, attributed to the contribution from higher-value clients and the growth of its technology B2B business. The company anticipates its stockbroking business will generate revenue of GBP14 million in the first half, up sharply year-on-year from GBP5.5 million. Net trading revenue of GBP85 million is expected from its CFD business, which would be 35% higher than the GBP63 million reported in the first half of last year. CMC said it has attracted higher-value clients in the division. CMC is confident that net operating income will exceed GBP170 million for the full-year ending March 2020, with pretax profit also expected to rise.
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OTHER MAIN MARKET AND AIM - LOSERS
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Zotefoams, down 37%. The foam maker noted the market for polyolefin foams in Europe has "deteriorated significantly" since August. In its interim results, released in August, Zotefoams said it was "mindful" of the "difficult current trading environment" in the European market but stated it has been worse than expected. Zotefoams added growth in the North American market has "slowed" and will now be below the company's previous estimates. As a result, Zotefoams said it expects its polyolefin foam sales will be about GBP6 million below current market estimates - which will result in its second half sales being about GBP2 million below the first half. The company generated GBP42.3 million revenue in the first half. In 2018, Zotefoams reported revenue of GBP81.0 million.
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Ted Baker, down 37%. The fashion retailer slashed its interim dividend and reported a swing to loss amid weaker trading conditions in the retail market. In the six months to August 10, revenue slipped 0.7% year-on-year to GBP303.8 million from GBP306.0 million and Ted Baker slumped to a pretax loss of GBP23.0 million from a GBP24.5 million profit, on higher costs and exceptional items. Total retail sales fell 2.5% year-on-year to GBP214.5 million from GBP220.1 million, with in-stores sales down 2.9% year-on-year and online sales slipping 1.3%. The retailer chopped its first half payout by 56% to 7.8 pence per share from 17.9p. The first half performance was below expectations, Ted Baker conceded, and second half trading has also "started slowly". Full-year results will be below last year if this trend continues, the company noted. The poor interim period is a further blow to the company which has endured boardroom turbulence in recent months. Its founder, Ray Kelvin, resigned as chief executive earlier this year after allegations of misconduct were made against him. "The latest collapse in the share price may help revive speculation over a potential move by Kelvin to take the business out of the glare of public markets through a private equity-backed buyout," said AJ Bell's Russ Mould.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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