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Pin to quick picksInspirit Energy Share News (INSP)

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UK WINNERS & LOSERS SUMMARY: Crest Nicholson Lifts Peers With Outlook

Tue, 03rd Nov 2020 10:41

(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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Taylor Wimpey, up 6.0% and Barratt Development, up 4.0%. Housebuilders in the FTSE 100 benefit from a positive read-across after FTSE 250 peer Crest Nicholson said it will top consensus for profit this year.

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FTSE 250 - WINNERS

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Crest Nicholson, up 20%. The housebuilder expects profit for its recently ended financial year to be significantly ahead of consensus. For the year to the end of October, Crest expects adjusted pretax profit to be significantly ahead of consensus expectations of GBP37.9 million, and at the upper end of the previously guided range of GBP35 million to GBP45 million.

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Coats, up 10%. The thread manufacturer says adjusted operating profit for 2020 will top market expectations and will be in the range of USD100 million and USD110 million. Between July 1 and October 31, sales fell 9% year-on-year at constant currency, narrowing from a first half slump of 21%. Reported sales were down 11% after a 24% plunge in the first half. "Improving demand" has been seen in the Apparel & Footwear and Performance Materials segments, Coats noted.

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Premier Oil, up 10%. Gets support from each class of its creditors for its proposed merger with Chrysaor Holdings Ltd.

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Centrica, up 4.9% to 39.14 pence. RBC raises the British Gas owner to Outperform from Underperform and upped the price target to 55p from 33p.

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OTHER MAIN MARKET AND AIM - WINNERS

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ICG-Longbow Senior Secured UK Property Debt Investments, up 11%. The UK real estate debt-related investor heeds the advice of adviser ICG Real Estate to recommend an investment objective and policy change to shareholders, in order to pursue and orderly realisation and capital return.

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Inspirit Energy, price up more than doubles 0.10p. Agrees a letter of support related to the development of a waste heat recovery system with Volvo Penta, a provider of power solutions in the marine industry.

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OTHER MAIN MARKET AND AIM - LOSERS

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John Lewis of Hungerford, down 20%. The manufacturer and retailer of furniture delays the release of annual results for year ended June 30 due to latest Covid-19 lockdown in England. Company says this will allow it to focus on "day to day operations". "Whilst the audit for the year ended 30 June 2020 is substantially complete, discussions are ongoing, given the new restrictions and the likely impact on the business," John Lewis of Hungerford says. However, expects new lockdown to cause "less disruption" than the one in spring.

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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