Last checked at LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Friday.----------FTSE 100 - WINNERS----------Fresnillo, up 3.2%. UBS raised the Mexican miner to Buy from Neutral.----------Halma, up 1.6%. Exane BNP raised its rating on the safety and fire-protection stock to Outperform from Neutral.----------FTSE 100 - LOSERS----------Vodafone, down 2.3%. The telecommunications firm reiterated its annual guidance, as it reported a fall in revenue for its third quarter. For the three months to December 31, Vodafone's revenue was EUR11.00 billion, down 6.8% on a reported basis year-on-year. This figure was hindered by accounting changes, the sale of Vodafone's stake in its Qatari business, and foreign exchange. In the third quarter, organic service revenue rose 0.1% year-on-year, slowing from 0.5% annual growth in the second quarter. Using Vodafone's previous accounting method, growth actually improved to 0.4% from 0.3% in the prior quarter. On a reported basis, Vodafone's service revenue fell to 3.9% to EUR9.79 billion. Vodafone's guidance for its year ending March is for organic adjusted earnings before interest, tax, depreciation, and amortisation to rise by around 3% year-on-year. Under old accounting standards, service revenue growth "will be slightly" higher and absolute adjusted Ebitda will be slightly lower, the company said.----------British Land, down 0.6%. Land Securities, down 0.1%. Citigroup cut its rating on both property stocks to Sell from Neutral.----------Spirax-Sarco, down 1.0%. Exane BNP reduced its rating on the engineering firm to Underperform from Neutral. ----------FTSE 250 - WINNERS----------Weir Group, up 2.2%. Societe Generale raised its rating of the oil services stock to Buy from Hold. ----------FTSE 250 - LOSERS----------Hammerson, down 0.8%. intu Properties, down 2.7%. Citigroup cut its rating on both shopping centre owners to a Sell rating from Neutral.----------Great Portland Estates, down 1.3%. Citigroup cut its rating for the commercial property investor to Sell from Neutral. ----------AG Barr, down 2.8%. The firm reported a continued positive trading performance in its current financial year and said it expects to deliver year-on-year revenue and profit growth. The Rubicon, Irn Bru, Strathmore and Funkin soft drinks maker expects to generate revenue for the year to Saturday of GBP277 million, up 4.9% from GBP264.1 million reported the year prior. It also is confident of delivering profit ahead of the prior year and in line with expectations. During the year, AG Barr said it remained committed to investing across its brands, assets and people which had a moderate impact on its operating margin. In addition, the company said it has maintained its tight control on costs. Looking ahead, AG Barr is confident its flexible business model and portfolio of differentiated and growing brands will provide it with continued profitable growth in the financial year ahead.----------OTHER MAIN MARKET AND AIM - WINNERS----------Earthport, 26% higher. International payments firm Earthport has agreed to an increased offer from Mastercard, after a bid from Visa in December. Mastercard is to pay 33 pence per Earthport share, valuing the company at GBP233 million. Earthport shares opened 26% higher at 35.00 pence each on Friday. The price is a 10% premium to the offer Visa made in December of 30p, and is more than triple the 7.45p price Earthport shares were trading at on Christmas Eve, the final business day before the first offer was made public The 30p offer made by Visa in December, which was accepted by Earthport, valued the company at GBP198 million. ----------Fuller, Smith, & Turner, up 17%. The West London brewer and pub operator has sold its entire beer business to Japan's Asahi Group. Asahi will pay an enterprise value of GBP250 million. Fuller's will receive net cash proceeds of around GBP205 million, and will return between GBP55 million to GBP69 million to shareholders via dividends. It will pay between 100 pence to 125p per 'A' and 'C' shares, and 10p to 12.5p per 'B' share. These special distributions, Fuller's said, will not affect its existing dividend policy. Once it has sold the beer business, Fuller's will focus on its pub and hotel operations, forming a "strategic alliance" with Asahi, which will act as a "key" supplier to its pub and hotel business. Fuller's also provided a trading update, saying it has achieved a "very strong" performance, especially in the Managed Pubs & Hotels business. In the 10 weeks to January 19, Managed Pubs & Hotels like-for-like sales rose 5.6% like-for-like. In the 42 weeks to January 19, like-for-like sales in the business were up 4.7%. In Tenanted Inns, like-for-like profit in the 42 week period increased 2%, while beer and cider volumes in the Fuller's Beer Co have remained level year-on-year. ----------Rurelec, up 28%. The power firm said is has repaid GBP200,000 of a loan facility from Bridge Properties, with GBP1 million now outstanding. It plans to make further repayments in the coming months, with the loan maturing on June 30. ----------OTHER MAIN MARKET AND AIM - LOSERS----------Midatech Pharma, down 50%. The firm is urgently looking to conclude a deal with a strategic investor with cash funds rapidly running dry. Meanwhile, the drug development firm also explained it had secured clarity on how to progress its MTD201 clinical plan. Midatech now has "very limited cash to enable it to continue as a going concern" and it is "urgently" looking to conclude its discussions with a potential strategic investors announced in late 2018. In December, Midatech said an unnamed Asia-based investor was considering a GBP8 million share subscription. On Friday, Midatech emphasised there was "no guarantee" it would conclude such a deal and on what terms any such deal would be. Meanwhile, Midatech also announced US regulators had provided guidance to help the firm design the "optimal study" for its lead MTD201 carcinoid cancer treatment. The US Food & Drugs Administration indicated a single dose pharmacodynamic study in healthy volunteers would not support a new drug application. ----------
26 Nov 2015 16:08
