LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Tuesday.
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FTSE 100 - WINNERS
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Anglo American, up 9.5%, Glencore, up 8.7%, BHP Billiton, up 4.8%, Rio Tinto, up 4.6%, and Antofagasta, up 4.1%. Miners were trading higher after Chinese GDP growth, though hitting its slowest pace in 25 years, wasn't as bad as the market's worst fears, easing some concerns about the economic slowdown in the country. Economic growth in China eased to 6.9% in 2015, the least since 1990, from 7.3% in the previous year, data published by the National Bureau of Statistics showed. It also was slower than the government's full-year target of about 7.0%.
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FTSE 250 - WINNERS
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Ocado Group, up 19%. The online grocery deliver service was boosted by a report in the Daily Mail newspaper which suggested US online retail giant Amazon.com Inc was running the rule over a possible bid for Ocado. The Mail said market speculation has suggested Amazon is considering buying Ocado as part of its push to launch a full-fledged grocery delivery service in the UK. Amazon's plans to expand its existing Pantry packaged-food delivery service in the UK has hit shares in Ocado in recent weeks, amid fears an entry by Amazon into the UK fresh-food market would pose a significant challenge to existing players.
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FTSE 250 - LOSERS
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SIG, down 2.1%. UBS cut its rating on the building materials company to Sell from Neutral and trimmed its target price to 125 pence from 145p. SIG shares were trading at 130.5p. In a wider note on the European building materials sector, the bank downgraded SIG due to concerns it will lose further market share in the UK.
Savills, down 2.0%. Citigroup cut its rating on the property advisor to Neutral from Buy and slashed its price target to 890 pence from 1,035p. Savills shares were trading at 786.00p.
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MAIN MARKET AND AIM - WINNERS
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ScS Group, up 20%. The furniture and floorings retailer said profit will beat market expectations in its full year to July 25 after it achieved strong trading over the Christmas and January sales period. ScS said trading in the holiday period was strong, resulting in total like-for-like order intake in the 25 weeks ended January 16 growing 8.8% year-on-year. As a result, ScS now expects profit in its full year to "significantly" beat current market expectations.
InfraStrata, up 17%. The oil and gas explorer revealed a series of farmout agreements that will result in completion of the funding for the planned Woodburn Forest-1 well in Northern Ireland, as long as certain conditions are met. "This is the culmination of 5 years of hard work by InfraStrata and its joint venture partners. Work commenced on PL1/10 in 2011 with the acquisition of the first of two seismic surveys. The technical evaluation of the area has confirmed the presence of numerous prospects within the Larne-Lough Neagh Basin of Northern Ireland," Chief Executive Andrew Hindle said in a statement.
Shanta Gold, up 12%. The gold producer said its gold production hit a record level in the fourth quarter at the New Luika mine in Tanzania, helping it to outpace its production guidance for 2015. Shanta said its gold production for the quarter to the end of December was 29,139 ounces, up from 24,532 ounces in the third quarter. Total gold production for the year hit 81,873 ounces, well ahead of its guidance for production of 72,000 to 77,000 ounces. Shanta lifted its guidance for gold production in 2016 to 82,000 to 87,000 ounces.
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MAIN MARKET AND AIM - LOSERS
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Quantum Pharma, down 15%. The company said its adjusted earnings for the full year will miss market expectations due to delays in its niche pharmaceuticals pipeline. Quantum said its adjusted earnings before interest, taxation, depreciation and amortisation for the year to the end of January will be around GBP12.7 million, compared to market expectations for GBP13.7 million. The group said its niche pharmaceuticals arm experienced delays in its pipeline, which an internal review by the company put down to internal management and processes, supply chain issues and regulatory delays.
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By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
12 Sep 2018 15:58
InfraStrata Says Former CEO Adrian Pocock Is No Longer Director
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