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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Barratt Developments, up 1.1%. Jefferies raises the housebuilder's price target to 677.00 pence from 575.00p and reiterates its Hold rating. The company currently trades at 625.00p.
Tesco, up 0.8%. Private equity houses Affinity Equity Partners, Carlyle Group and CVC Capital Partners are understood to be among the preliminary bidders for Tesco's South Korean business, Reuters reports. Reuters, citing a report in the Korea Economic Daily, said MBK Partners, Goldman Sachs Principal Investment Area, TPG and snack maker Orion Corp also are involved in the bidding.
Capita, up 0.7%. Jefferies has raised its price target for the outsourcer to 1,445.00p from 1,300.00p, reiterating its Buy rating. The company currently trades at 1,270.00p.
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FTSE 100 LOSERS
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United Utilities, down 3.2%, Compass Group, down 1.2%, Experian, down 1.1%, and Centrica, down 0.5%. The companies are down after going ex-dividend, meaning new buyers no longer qualify for the latest dividend payout.
Admiral Group, down 2.0%. The insurer has been cut to Sell from Neutral by Citigroup.
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FTSE 250 WINNERS
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Petrofac, up 4.2%. The oil services company has been upgraded by Nomura to Buy from Neutral.
DS Smith, up 2.9%. The packaging company said its pretax profit rose in its financial year to the end of March as it managed to bring down its cost of sales sufficiently to offset lower revenue and said it has struck a EUR190 million deal to acquire a new corrugated packaging operation in Spain.
Bovis Homes Group, up 1.7%. Jefferies raises the housebuilder's price target to 1,449.00p from 1,247.00p, reiterating its Buy rating. Bovis currently trades at 1,136.21p.
Go-Ahead Group, up 1.4%. The transport operator said its forecasts for the year remain unchanged as it said it expects revenue growth across its rail and bus operations, despite a decline in passenger journeys in the latter business. Go-Ahead said it expects revenue for the financial year to June 27 in its regional bus operations to grow by 3%, despite expecting a 1% decline in passenger journeys on its services. It said both revenue and passenger journeys slowed in the fourth quarter given the ongoing economic weakness in the north east of England and the impact of roadworks in the Oxford and Brighton areas.
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FTSE 250 LOSERS
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Electrocomponents, down 3.8%, Paypoint, down 2.8%, JD Sports Fashion, down 2.6%, MITIE Group, down 2.3%, and Mercantile Investment Trust, down 1.5%. The companies trade lower after going ex-dividend.
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AIM ALL-SHARE WINNERS
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Daniel Stewart Securities, up 40%. The investment bank said it has raised GBP1.2 million through a cash subscription with investors, higher than originally intended. In a statement, the investment bank said the subscription means it will issue 35.8 million shares at 3.35 pence per share.
Imaginatik, up 25%. The consultancy and technology products business said former Quindell chief Rob Terry and his Quob Park Estate investment vehicle have upped their stake in the business again. Imaginatik said Terry has acquired a further 942,500 shares in the company at 7.59 pence to 8.27p, increasing his stake to 4.17%.
Eden Research, up 23%. The company said it has received notice that three active ingredients which are part of a number of plant-protection products it has developed have been granted maximum residue exemption by the European Commission.
Xtract Resources, up 10%. The company said it is making good progress on meeting targets for the Chepica gold and copper mine in Chile. Xtract said the mine has reached its target of hitting profitability ahead of schedule and is on track to achieve a 60% profit margin by the end of the third quarter of this year.
Netcall, up 11% at 58.00p. The software company said payments technology company Eckoh has made a cash and shares takeover offer for the company, coming as Eckoh posted its results for its 2015 financial year and said it has won a new contract with Capita. Netcall said Eckoh has made a bid for Netcall of 1.25 Eckoh shares plus 13 pence in cash for each Netcall share, implying a value of around 63.94 pence per Netcall share. Eckoh shares are down 1.8%.
BMR Mining, up 6.3%. The company said the metallurgical tests conducted on the Wash Plant Tailings and Leach Plant Residue Tailings from its Kabwe site in Zambia using an acid and brine leaching process to recover lead and zinc were successful.
Forte Energy, up 6.2%. The company said its Slovak Republic subsidiary has filed court proceedings against the country's environment ministry in respect of its decision not to grant an extension to uranium permits for the Kursikova deposit.
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AIM ALL-SHARE LOSERS
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Independent Resources, off 27%. The oil and gas company reflected on a frustrating year trying, and failing, to acquire an interest in a producing asset, but reported a narrower pretax loss in 2014. It reported a GBP1.6 million pretax loss in 2014, significantly narrowing from a GBP3.0 million loss in 2013. The loss narrowed because a GBP1.5 million loss was recorded in 2013 in relation to the reorganisation of the Rivera gas storage facility in Italy, which was not repeated in 2014.
Trap Oil Group, down 26%. The company failed to find hydrocarbons at the Niobe exploration well in the UK North Sea, and warned it will need to raise further cash as its bank balance dwindles after reaching a settlement deal with its two main creditors. The drilling of the Niobe exploration well has fulfilled the license obligation, but as it failed to find any hydrocarbons, will be plugged and abandoned.
Red Emperor Resources, down 18% at 4.0p. The company said it has raised GBP2.9 million through an oversubscribed placing at the discounted placing price of 4.0p, which it will use to fund its upcoming drilling and appraisal activities in the Philippines.
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By Neil Thakrar; neilthakrar@alliancenews.com; @NeilThakrar1
Copyright 2015 Alliance News Limited. All Rights Reserved.
13 Nov 2012 14:05
Resources round-up: President Energy, GoldStone, Forte Energy
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