LONDON (Alliance News) - The following stocks are amongst the biggest risers and fallers within the main London indices midday Thursday.
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FTSE 100 WINNERS
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Aviva, up 5.7% and Friends Life Group, up 5.3%. Aviva said its turnaround is ongoing as it reported a fall in net profit for 2014 due to the 2013 sale of its US life and related internal asset management businesses, but operating profit excluding this rose as increases in its life business, general insurance and health helped to offset a fall in fund management operating profit. In what could be its last annual earnings statement in its current form with the proposed GBP5.6 billion acquisition of life insurance rival Friends Life Group expected to complete in the second quarter of 2015, Aviva said its net profit fell to GBP1.74 billion in 2014, compared with GBP2.15 billion in 2013. Friends Life, meanwhile, swung to a net loss of GBP138 million in 2014, compared with a net profit of GBP235 million in 2013.
ITV, up 2.4%. Goldman Sachs has added the broadcaster to its Conviction Buy List. On Wednesday the company proposed a GBP250 million special dividend at 6.25 pence per share and raised its total ordinary dividend for 2014, as it posted results ahead of expectations and higher than in 2013.
Schroders, up 2.3%. The asset manager raised its dividend as it reported growth in pretax profit, net inflows from clients and assets under management in 2014. The company said it made a GBP517.1 million pretax profit in 2014, compared with GBP447.5 million in the prior year, as net revenue rose by GBP123.6 million to GBP1.53 billion and operating expenses increased by GBP55.3 million to GBP1.03 billion.
Rolls Royce Holdings, up 2.0%. The aerospace group said its Industria de Turbo Propulsores SA joint venture will supply the British engine maker with turbines for future civil large engines in addition to its existing range of products, under a revised shareholder agreement with joint venture partner Sener Grupo de Ingenieria SA.
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FTSE 100 LOSERS
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HSBC Holdings, down 2.3%. The Bank of England’s chief banking supervisor has told British lawamakers that he is holding HSBC Holdings' top executives' "feet to the fire" to ensure they simplify the group and improve its risk controls after a tax evasion scandal at its Swiss private bank, the Financial Times reports Thursday.
Rio Tinto, down 1.9%, and RSA Insurance Group, down 1.6%. The companies have gone ex-dividend, meaning new buyers no longer qualify for the latest dividend payouts.
International Consolidated Airlines Group, down 1.1%. Ireland's government expects International Consolidated Airlines Group to make a further offer to convince it to sell its 25% stake in Aer Lingus, Ireland's Deputy Prime Minister Joan Burton said Thursday according to the BBC.
Aggreko, down 0.9%. The temporary power company reported a fall in profit in 2014, mainly due to large hit from the strength of sterling on its translated overseas earnings, while revenue was broadly flat as challenging trading in Asia Pacific offset strong growth in the Americas and a good performance in Europe, Middle East and Africa.
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FTSE 250 WINNERS
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Betfair Group, up 16%. The online betting firm revised up its full-year earnings expectations following a strong third quarter, its fourth consecutive quarter of double-digit growth as it continues to attract new customers. It said it expects a strong finish to the year with record levels of political betting in the run up to the UK general election in May.
Spirax-Sarco Engineering, up 8.9%. The company added its name to the list of UK engineering businesses which saw results held back by the strength of sterling in 2014, with the company reporting a small fall in pretax profit, though the company sweetened the pill with a GBP91 million return of capital. Despite the fall in pretax profit, the company said it will increase its final dividend payment to 45 pence per share, from 41 pence last year, meaning its total dividend for the year will be 64.5 pence, up 9% on the 59 pence per share paid a year earlier.
Hunting, up 6.9%. The oil services company said it has increased its final dividend by 5% despite its pretax profit falling in 2014 due to impairment charges. The energy services company reported revenue of USD1.38 billion, a significant rise from GBP1.29 billion reported a year earlier. The rise came from its well completion and well intervention units, partially offset by a fall in revenue from its well construction unit.
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FTSE 250 LOSERS
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Cobham, down 3.0%. The aerospace and defence manufacturer reported a big fall in pretax profit for 2014 despite higher revenue, as the company's results were held back by restructuring and acquisition costs. Cobham said its pretax profit for the year was GBP24 million, sharply down from the GBP127 million it posted a year earlier due to costs related to the acquisition of US communications equipment maker Aeroflex and restructuring measures.
Domino Printing Sciences, down 1.9%, and Kennedy Wilson Europe Real Estate, down 1.7%. The companies have gone ex-dividend.
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AIM ALL-SHARE WINNERS
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CAP-XX, up 23%. The maker of thin-form supercapacitors that extend the performance of batteries reported a narrowed loss for the first half of its financial year, and said it has raised an estimated GBP1.1 million in a share placing and subscription, money it will use to reduce production costs and invest in product development. The company said it had raised gross proceeds of GBP1.2 million, or an estimated GBP1.1 million net of expenses, through a placing and subscription of 120 million shares at 1 pence each. The fundraising needs to be approved by shareholders.
Aurasian Minerals, up 21%. The company said Chairman Tony Shearer has stepped down and has been replaced by Bruce Kay.
Northern Petroleum, up 11%. The company said it has sold an 80% stake in the company's Cascina Alberto permit in Italy to a subsidiary of Royal Dutch Shell. Under the terms of the deal, Shell will become the operator of the permit and pay Northern Petroleum a total of USD850,000 for the 80% stake. Northern Petroleum will retain the remaining 20% stake in the permit.
Botswana Diamonds, up 9.2%. The company said it has recommenced exploration work in Orapa, Botswana with its joint venture partner Alrosa. A joint team from both companies have restarted exploration work on three blocks with the aim of finding major new kimberlites, an igneous rock that is associated with containing diamonds.
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AIM ALL-SHARE LOSERS
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William Sinclair Holdings, off 22%. The maker of horticulture brands like J Arthur Bower as well as industrial lightweight aggregates said its Chief Executive was leaving and it was set to report annual results that will be materially worse than the previous year. The company has appointed a new CEO who is a turnaround specialist and has launched a transformation plan that it will continue to develop over coming weeks.
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By Neil Thakrar; neilthakrar@alliancenews.com; @NeilThakrar1
Copyright 2015 Alliance News Limited. All Rights Reserved.
10 Apr 2015 16:03
