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Pin to quick picksInternational Airlines Share News (IAG)

Share Price Information for International Airlines (IAG)

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Share Price: 178.30
Bid: 158.00
Ask: 180.00
Change: 0.00 (0.00%)
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UK WINNERS & LOSERS SUMMARY: Travel Stocks Fall As Coronavirus Spreads

Mon, 24th Feb 2020 10:25

(Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Monday.

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FTSE 100 - WINNERS

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Bunzl, up 2.5%. The distribution firm said its revenue edged higher in 2019, despite "mixed macroeconomic and market conditions". For 2019, revenue rose 2.7% to GBP9.33 billion from GBP9.08 billion in 2018, helping pretax profit increase by 6.7% to GBP453.3 million from GBP424.8 million. By segment, only a 1.7% revenue decline to GBP1.24 billion in the UK & Ireland prevented growth across the board. In North America, revenue climbed 3.7% to GBP5.47 billion and in Continental Europe by 1.8% to GBP1.83 billion. In the Rest of the World, revenue rose by 5.6% to GBP781.6 million. Bunzl upped its full-year payout by 2.2% to 51.3 pence per share from 50.2p.

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Polymetal International, up 0.6%. The Russian gold miner Polymetal International was tracking spot gold prices higher. Gold was quoted at USD1,683.00 an ounce Monday morning, up sharply from USD1,643.10 late Friday, as demand for the safe-haven asset increased amid concerns over the spread of the coronavirus.

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FTSE 100 - LOSERS

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easyJet, down 13%, TUI down 9.0%, International Consolidated Airlines Group down 8.5%. The airline stocks were among the worst performers amid fears of weakening demand for travel as the spread of the coronavirus widened to 30 countries across the world. "Airlines, car makers and luxury goods stocks were among the big fallers on both European and UK markets. TUI, easyJet and International Consolidated Airlines were among the biggest fallers on the London Stock Exchange, perhaps implying that investors are fearful that consumers and business people may lose their appetite to travel," said AJ Bell's Russ Mould. In the FTSE 250, Wizz Air was the worst performer, down 8.2%, while Irish carrier Ryanair Holdings was down 9.9%.

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FTSE 250 - WINNERS

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Fresnillo, up 3.8%. The Mexican gold miner said it has accelerated the development of the Juanicipio project in Mexico's Zacatecas state and now expects to start producing silver and gold in mid-2020, ahead of schedule. Fresnillo said construction is well underway, engineering is complete, and all major process equipment has been purchased and received on site. It added that the mine's pre-operative capital expenditure has increased by 11% to USD440 million from its estimate of USD395 million back in January 2018. The mine is now expected to reach 85% name plate capacity in the fourth quarter of 2021, and 90% to 95% in 2022. Fresnillo expects a total average annual production of 11.7 million ounces of silver, 43,500 ounces of gold, with an initial mine life of 12 years. The mine is expected to reach 85% name plate capacity in the fourth quarter of 2021, and 90% to 95% in 2022. Fresnillo expects a total average annual production of 11.7 million ounces of silver, 43,500 ounces of gold, with an initial mine life of 12 years.

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OTHER MAIN MARKET AND AIM - LOSERS

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LoopUp Group, down 26%. The web conferencing company said user activity deteriorated in the US in the second half, hurting annual earnings. LoopUp said it expects to report revenue and earnings before interest, tax, depreciation and amortisation broadly in line with market forecasts at GBP42.5 million and GBP6.4 million, respectively. This represents a 24% revenue growth year-on-year, but a 17% decline in Ebitda. LoopUp said the macro headwinds were hurting UK user behaviour in the first half of 2019, but have stabilised since the summer. However, the company said it is now experiencing a similar effect in its US business. The AIM-listed company said decline in US minutes per active user worsened in the second half of 2019 to 8% after falling just by 2% year-on-year in the first half.

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By Arvind Bhunjun; arvindbhunjun@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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