LONDON (Alliance News) - The following stocks are amongst the biggest risers and fallers within the main London indices midday Tuesday.
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FTSE 100 WINNERS
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Diageo, up 4.7%. The drinks giant said sales improved in its second quarter but were down for the first half as a whole, hit by slower demand in markets such as the US and China, which remained a drag on profit. First half sales came in slightly lower than analysts' expectations for flat organic net sales. Diageo said organic net sales improved in the second quarter, rising 0.7%.
EasyJet, up 3.2%. Barclays has raised the low-cost airline's price target to 2,150 pence from 1,850p, and its rating to Overweight from Equal Weight.
Unilever, up 1.4%. Berenberg has raised the Anglo-Dutch consumer goods giant's price target to 3,000p from 2,850p, keeping its rating at Hold.
Imperial Tobacco, up 1,3%. Panmure has initiated the group's rating at Buy, with a price target of 3,450p.
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FTSE 100 LOSERS
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Royal Dutch Shell, down 4.3%. The oil major shares slid after it said it will slash spending plans by a further USD15 billion over the next three years due to the recent slide in oil prices, and will consider further cuts if current low prices persist. The group reported higher earnings for the fourth quarter and whole of 2014, as its cost cutting drive offset a decline in production and revenue, but its results missed analysts' expectations. Charles Stanley has cut Shell B to Accumulate, from Buy.
Fresnillo, down 4.3%. Numis has cut the miner's price target to 1,000p from 1,100p and its rating to Add from Buy. The company is suffering from lower commodities prices.
Antofagasta, down 3.6%. Several brokers cut their price target for the miner. Goldman has cut its price target to 660p from 685p, keeping it at Neutral. Nomura has cut its rating to Reduce from Neutral and its price target to 600p from 700p. Citigroup cut the company's price target to 660p from 705p, keeping it at Sell.
Johnson Matthey, down 2.6%. Numis has cut the company's price target to 3,642p from 3,758p, keeping its rating at Add. Exane BNP has cut Johnson Matthey's price target to 3,550p from 3,700p, keeping it at Outperform.
Standard Chartered, down 2%. Exane BNP has cut the emerging markets bank's price target to 875p from 1,000p.
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FTSE 250 WINNERS
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Rank Group, up 1.9%. The Mecca bingo operator said revenue and profit rose in the first half of the year, driven by casino acquisitions by its Grosvenor Casinos business, while profit improved at its Mecca business thanks to cost savings and the reduction in bingo duty.
Polymetal International, up 1.6%. The company said production and sales rose year-on-year in the fourth quarter and for 2014 as a whole, but full-year revenue slightly decreased due to weaker commodity prices. Full-year 2014 gold sales rose by 15% to 943,000 ounces and silver sales increased by 7% to 29.3 million ounces, generating USD1.68 billion in revenue in 2014, a 2% drop from USD1.71 billion in 2013.
RPC Group, up 1%. Plastics company RPC Group PLC said revenue in its financial third quarter ticked up year-on-year on the back of acquisitions and slightly higher underlying activity levels.
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FTSE 250 LOSERS
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Soco International, down 6.4%. The oil and gas company said its 2014 production came in line with guidance, but added that its forecast for 2015 has been cut due to the weak oil price environment. The group said its production for 2014 was 13,600 barrels of oil equivalent per day, in line with its guidance of between 13,300 and 13,800 barrels. Due to the drop in the oil price in recent months, 2015 production guidance has been set at 10,500 to 12,000 barrels.
Paypoint, down 5.8%. Numis has cut the payments company's price target to 825p from 845p, keeping its rating at Hold. Although the group reported a rise in transaction volumes in the third quarter along with an uptick in revenue and said it expects to meet market expectations for the year, it cautioned on the impact of changes to VAT rules.
Euromoney Institutional Investor, down 3.4%. The company said revenue fell 4% in its first quarter, hampered by pressures on the investment banking sector and weak commodity prices, offsetting an improving performance in the asset management sector. At constant currency, revenue was down 5%, and the company said that whilst currency movements did not "materially" hit its first quarter results, the strength of the US dollar against sterling is expected to have a more "significant" hit in its second quarter. Numis has cut the group's price target to 1,190p from 1,2309p, keeping its rating at Add.
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AIM ALL-SHARE WINNERS
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Fitbug Holdings, up 62.8%. The company's shares are rising after it announced that its Kiqplan digital health coaching platform will launch on the new Jawbone Marketplace. Consumer technology and wearable devices firm Jawbone's marketplace is an online store featuring devices and applications that work with Jawbone's range of 'Up' activity trackers.
Aukett Swanke Group, up 13%. The Architectural and interior design company reported robust growth in both profit and revenue in its last financial year, driven almost solely by its UK business.
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AIM ALL-SHARE LOSERS
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Red Emperor Resources, off 25.3%. The company said it is shutting down its Puntland joint venture in Somalia. The decision follows negotiations held between the Somalian government and states in the country, including Puntland, over revisions to the country's hydrocarbon laws, particularly as regards revenue-sharing legislation.
By Daniel Ruiz; danielruiz@alliancenews.com
Copyright 2015 Alliance News Limited. All Rights Reserved.
10 Aug 2015 07:18
