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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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Polymetal International, up 1.6%. Berenberg raised the Russian gold miner to Buy from Hold.
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FTSE 100 - LOSERS
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Mondi, down 2.6%. The paper and packaging company said Chief Executive Officer Peter Oswald is to step down from the board and leave the company at the end of March. Oswald was appointed as CEO in February 2017 following the departure of predecessor David Hathorn. He took up the role in May that year. The Vienna, Austria-based company will now begin the process of searching for a successor to Oswald. In the meantime, Chief Financial Officer Andrew King has agreed to take on the role of interim CEO.
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FTSE 250 - WINNERS
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ConvaTec, up 3.2%. UBS raised the wound dressings maker to Buy from Neutral.
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FTSE 250 - LOSERS
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B&M European Value Retail, down 7.5%. The general retailer reported that its sales in the run-up to Christmas grew at a slower pace than expected with its UK unit facing "reduced shopper footfall and political uncertainty". In the 13 weeks to December 28, its third quarter, the company said revenue increased 9.0% to GBP1.19 billion from GBP1.09 billion last year. Its UK Stores delivered an 8.8% revenue rise to GBP957.4 million from GBP879.9 million. On a like-for-like basis, the UK unit posted a 0.3% sales rise. The company said its like-for-like performance was hindered by broader challenges faced by the UK retail market. B&M reported that its also did not participate "in any early or unusual discounting activity over the quarter".
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Watches of Switzerland, down 4.6% at 362.40 pence. Apollo Global Management has netted GBP118.8 million from sale of a stake in the timepiece retailer. Apollo Global has sold 33.0 million Watches of Switzerland shares at 360 pence per share. Following the sale, the US private equity firm owns 100.7 million shares, or a 42% stake, in the watch retailer. Goldman Sachs late Thursday said Apollo Global intended to sell around 30 million shares, or a 13% stake in the retailer. Watches of Switzerland did not receive any proceeds from the placing.
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OTHER MAIN MARKET AND AIM - WINNERS
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Ryanair, up 6.8%. The Irish carrier raised its full-year guidance after a surprising Christmas period and said forward bookings for January to April have risen year-on-year. Ryanair upped its annual profit after tax guidance range to between EUR950 million and EUR1.1 billion, which could represent year-on-year hike of up to 19% from EUR885.0 million. It previously expected full-year profit after tax for the 12 months to March 31 to fall between the EUR800 million and EUR900 million range. In an unscheduled statement, the airline said the festive period was "characterised by higher than expected close-in bookings at better than expected yields". Fellow travel stocks International Consolidated Airlines, easyJet, TUI and Wizz Air were up 4.0%, 3.5%, 2.3% and 5.6% respectively. "The whole airline sector was rising in Ryanair's tailwind after a very encouraging update from the budget carrier. Investors' attention will always be grabbed by a big number and Ryanair has duly delivered, raising the upper end of its full year profit guidance above the EUR1 billion mark," AJ Bell's Russ Mould said.
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OTHER MAIN MARKET AND AIM - LOSERS
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Joules Group, down 20%. The clothing retailer said retail sales were significantly behind expectations because of a "disappointing" online sales performance. In a trading update for seven weeks to January 5, the seller of British countryside clothing said its retail sales were significantly behind expectations and decreased by 4.5%. In the same period a year ago, sales rose 11.7%. The company said this was a result of disappointing online sales performance due to an internally generated stock availability issue throughout the important end of season sale event, which has now been addressed. Joules said it expects second half cost headwinds as a result of US-China tariffs, which it expects to continue into next year. As a result, Joules warned underlying pretax profit will be "significantly below" market expectations for the financial year in May. For the 12 months to May 26, 2019, Joules had posted pretax profit of GBP12.9 million, 15% higher year-on-year, with the underlying figure rising 19% to GBP15.5 million.
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Superdry, down 15%. The fashion retailer warned it may not make a full-year profit after its Christmas trading period was compromised by subdued customer demand and stock shortages. In the year to April 25, the company said underlying pretax profit is expected to be as low as zero, and has high as GBP10 million. This would be a sharp fall from GBP38.0 million last year, as struggles at the embattled high street brand continue. It made an underlying pretax loss of GBP2.3 million in the first-half of financial 2020. In the 10 weeks to January 4, group revenue shrunk by 16% year-on-year, driven by revenue in its bricks and mortar units falling by 19%. The period saw an annual revenue fall of 17% in the Wholesale division but declines in online sales were tempered at 9%, Superdry said. Retail sales, predominantly made online, in the period after Black Friday totalled GBP23 million, lower than expected.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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