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(Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Friday.
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FTSE 100 - WINNERS
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GVC Holdings, up 3.2% at 722.40 pence. Jefferies raised its price target on the gambling firm to 1,250 pence from 1,210p and reiterated its Buy rating.
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FTSE 100 - LOSERS
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Fresnillo, down 1.8%, Polymetal International, down 1.0%. The gold miners were tracking spot gold prices lower quoted at USD1,931.14 an ounce Friday morning, down from USD1,946.90 late Thursday.
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DCC, down 1.7%. Barclays downgraded the Irish support services firm to Equal Weight from Overweight.
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FTSE 250 - WINNERS
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HgCapital Trust, up 5.0%. HgCapital Trust said manager Hg led a further majority investment in Oslo-based software and technology provider Visma, valued at USD12.2 billion, in the world's largest-ever software buyout. HgCapital Trust will be investing in Visma alongside other institutional clients of Hg through the Hg Saturn 2 fund, while Hg's Genesis 7 Fund will reduce its holding in Visma. HgCapital Trust will be investing GBP17.1 million in Visma, bringing its existing investments in the company to GBP268.8 million. This would represent a 35% uplift of GBP69.1 million or 17 pence per share over the carrying value of GBP199.7 million in the net value asset of HgCapital Trust. Following completion of the Visma transaction, the pro-forma NAV of the trust is expected to be GBP1.08 billion or 263.6 pence per share. The investment will value Visma at an enterprise value of USD12.2 billion, making it the largest ever software buyout.
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FTSE 250 - LOSERS
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Petrofac, down 5.5%. Bernstein downgraded the oilfield services company to Market Perform from Outperform.
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Bellway, down 2.0%. Deutsche Bank cut the housebuilder to Hold from Buy.
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OTHER MAIN MARKET AND AIM - WINNERS
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Renalytix AI, up 14%. The diagnostics company said it will collaborate with drugmaker AstraZeneca on developing and launching precision medicine strategies in renal, cardiovascular, and metabolic diseases. The first stage of this collaboration will use Renalytix's artificial intelligence-enabled in vitro diagnostic platform KidneyIntelX to examine possible further outcome improvement for chronic kidney disease and its complications. This stage of the collaboration will take place in coordination with the Mounta Sinai Health System with the goal of improving guideline-based standard of care in a way that optimally uses existing and novel therapies. It will use the KidneyIntelX testing platform as well as care management software. AstraZeneca was down 0.5%.
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OTHER MAIN MARKET AND AIM - LOSERS
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Cadence Minerals, down 16% at 13.68p. The investment company focussed on the minerals sector said that it has raised GBP1.3 million through share placing to cut debt. Cadence issued 10.4 million new ordinary shares at 12 pence per share, a 22% discount to the closing price on Wednesday. Cadence intends to use the net proceeds of the placing for general working capital and to provide flexibility to the company to repay loan notes from cash reserves rather than from its holdings in quoted investments. The outstanding balance on Cadence's loan notes is currently GBP1.7 million.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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