International Airlines Share News (IAG)

LONDON (Alliance News) - The following stocks are amongst the biggest risers and fallers within the main London indices midday Monday.
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FTSE 100 WINNERS
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International Consolidated Airlines Group, up 1.8%. A trade union representing workers at Aer Lingus Group has changed its stance and said it will now back the takeover bid for the Irish carrier by International Consolidated Airlines Group, Reuters reported on Sunday.

Bunzl, up 1.6%. The distribution and outsourcing company raised its dividend for a 22nd consecutive year after reporting higher 2014 earnings on the back of a further 17 acquisitions, and said it expects further earnings growth in 2015 as it announced two further deals. The acquisitions it made in 2014 helped lift pretax profit to GBP299.8 million, from GBP289.9 million in 2013, as revenue rose to GBP6.16 billion, from GBP6.10 billion. Its closely-watched adjusted pretax profit, which excludes acquisition costs and amortisation, rose to GBP387.8 million, from GBP372.2 million.

Lloyds Banking Group, up 1.5%. The UK government said it has sold a further GBP500 million of Lloyds Banking Group shares under a trading plan launched in December last year, meaning its stake in the lender has been reduced to 23.9%. The sale of the shares marks another step towards returning Lloyds back to full private ownership after the bank required billions of pounds of state support during the financial crisis, which had given the UK government a 41% holding in the group.
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FTSE 100 LOSERS
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HSBC Holdings, down 5.5%. The bank reported a 17% drop in annual pretax profit, citing lower gains from business disposals, as well as numerous fines, settlements, and the the cost of provisions for customer compensation in the UK. The company said it made a USD18.68 billion pretax profit in 2014, compared with USD22.57 billion in 2013. According to consensus estimates compiled by the company, financial analysts had expected HSBC to report a pretax profit of USD20.95 billion.

Antofagasta, down 1.4%. The copper and gold miner lowered its cash cost guidance for 2015 by about 10 cents a pound, bringing it in line with its cash costs in 2014, saying that input costs were now more favourable. The company said it now expects net cash costs for 2015 to be USD1.40 per pound thanks to lower oil prices and the drop in the Chilean peso. However, Goldman Sachs has downgraded the company to Sell from Neutral.

Rio Tinto, down 1.3%. UBS downgraded the miner to Neutral from Buy.
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FTSE 250 WINNERS
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DS Smith, up 3.7%. The corrugated packaging company said it is trading in line with expectations as it announced a EUR300 million deal to buy European corrugated board packaging company Duropack. The company said trading in the three months to the end of January, its financial third quarter, was in line with its expectations. It said volumes have been ahead of the run-rates seen in the first half and were positive in all regions, with particularly strong performances in both central Europe and Italy.

Dechra Pharmaceuticals, up 1.8%. The veterinary pharmaceutical business raised its interim dividend to 5.12 pence, from 4.75 pence a year before, as it posted a rise in pretax profit. In the half year to end December 2014, the company posted a pretax profit of GBP12.6 million, up from GBP10.3 million a year before, as revenue rose 5.2% to GBP100.9 million from GBP95.9 million. At constant currency, revenue would have been up 11%, Dechra said.

Marston's, up 1.4%. Panmure Gordon has raised the pub company to Buy from Hold according to traders.
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FTSE 250 LOSERS
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Ladbrokes, down 6.6%. The bookmaker is set to announce later this week that it will close around 50 betting shops as the group faces the twin challenges of tax rises and regulation, The Sunday Times reported. The company is expected to outline the plans at its full-year results presentation on Thursday, bringing the total number of closures by Ladbrokes and rivals William Hill and Gala Coral Group in the past year to more than 200, the paper said. Ladbrokes was also downgraded by Deutsche Bank to Hold, from Buy.

Premier Oil, down 4.3%. The oil producer said it has plugged and abandoned the Badada-1 exploration well in Kenya, though it added the well had been drilled within budget. The company did not provide any detail on why the well had been plugged and abandoned, but one of its partners, AIM-listed Tower Resources, said the well had failed to find commercial hydrocarbons. Premier Oil has a 55% stake in the well.
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AIM ALL-SHARE WINNERS
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Quindell, up 27%. The insurance services outsourcing provider said it has extended the exclusivity period for its discussions with Slater & Gordon Ltd regarding the disposal of its professional services division to March 31. It said that the discussions continue but the indicative terms being discussed with the law firm for the division "would imply a significant premium to the company's market capitalisation" on Friday.

Alexander Mining, up 25%. The company said it has signed heads of agreement with Compass Resources Ltd for an AmmLeach licence, along with technical and management services. Alexander said a feasibility study has been planned to explore the use of its AmmLeach leaching technology at Compass's copper, cobalt and nickel treatment plant in Australia. In addition, the pair say they expect to form a strategic alliance in Australia to explore the acquisition of copper resources in Australia which can be exploited using leaching technologies.

Clear Leisure, up 20%. The company said it has agreed a deal to sell the Altinak Sarl vehicle, which controls the share capital of the Hospitality & Leisure Fund, for EUR500,000. The company said the realisation on the sale significantly exceeds the funds owed to its short-term creditors, including the sum demanded last week by Westhouse Securities Ltd.

Nature Group, up 18%. The company, which provides port reception facilities and waste treatment services in the oil, marine and process industries, said it has signed a deal to sell a waste water collection and storage vessel for GBP1.8 million. It said the sale of M/V Crystalwater would result in a positive net cash flow for the company in the first quarter.

Oracle Coalfields, up 14%. The company said the mining lease for Block VI of the Thar coalfield in Pakistan has been restored. Oracle said its Sindh Carbon Energy Ltd subsidiary received a letter from the local government in Sindh confirming the restoration of its licence on February 20.
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AIM ALL-SHARE LOSERS
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Tower Resources, off 34%. The company is down following the closure of the Badada-1 exploration well in Kenya. Tower Resources has a 15% stake in the well.

PeerTV, down 17%. The company said it has issued just short of 7.75 million new shares, 2.99 million of which relate to its recent convertible loan facility deal with YA Global Master SPV Ltd.

Stratex International, down 11%. The company said heavy rains had delayed key parts of the construction project at the Altintepe gold project in northern Turkey and completion is now scheduled for late May, while its environmental approval for the site is also being challenged.
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By Neil Thakrar; neilthakrar@alliancenews.com; @NeilThakrar1

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