Last checked at LONDON (Alliance News) - The following stocks are amongst the biggest risers and fallers within the main London indices midday Tuesday.
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FTSE 100 WINNERS
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Johnson Matthey, up 2.4%. Shares in the speciality chemicals and metals company are upgraded by Citigroup to Buy from Neutral.
Smith & Nephew, up 2.4%. The medical devices maker is upgraded to Buy from Neutral by UBS.
Diageo, up 2.1%, and Vodafone Group, up 1.1%. Shares in the drinks giant and the telecommunications firm both are upgraded to Buy from Neutral by Nomura.
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FTSE 100 LOSERS
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Bunzl, down 1.5%. The distribution and outsourcing company said overall trading in the first half of 2015 has been in line with its expectations, with revenue in the first half set to grow by around 6%, including a one-percentage-point benefit from positive exchange rate movements. Bunzl also announced the acquisition of four businesses in the US, Colombia, Canada and France. "While Bunzl is a strong business, well positioned to capitalise on further growth opportunities, we elect to remain at Hold given the softer underlying trading this morning," says Investec analyst John Mullane.
Lloyds Banking Group, down 0.4%. The UK government said it has further sold down its stake in the bank, bringing its stake in the bank below 17%. UK Financial Investments, which manages the government's stake in bailed-out banks, sold off approximately a further 1% of the bank, cutting its stake from 17.9% to 16.87%.
Anglo American, down 1.4% at 980.90 pence, Rio Tinto, down 0.8% at 2,748.00p. Morgan Stanley cut its price targets for the two miners. Anglo American's target is cut to 850p from 920p, keeping an Underweight stance, and the target for Rio Tinto to 2,600p from 2,700p, with an Equal-Weight recommendation.
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FTSE 250 WINNERS
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Ladbrokes, up 13%. The company confirmed it is holding talks with unlisted rival Gala Coral Group on a possible merger of Ladbrokes and Coral Retail, Eurobet Retail, and Gala Coral's Online businesses. Ladbrokes said the talks are focusing on plans to create an enlarged business which would be traded on the main market of the London Stock Exchange, where the betting firm currently is traded as a member of the FTSE 250 index. However, it said there is no certainty a deal will be done between the two or on the timing of any agreement.
Petrofac, up 6.7%. According to traders, JP Morgan upgraded the oil-field services firm to Overweight from Neutral, while Charles Stanley upgraded the stock to Accumulate from Hold.
Telecom Plus, up 3.0%. The multi-utility provider reiterated its guidance for its current year, as it posted a rise in pretax profit for its recently ended financial year driven by the continued take up of its services. For the year to end-March the company posted a pretax profit of GBP42.0 million, up from GBP34.7 million a year before, on revenue of GBP729.2 million, up from GBP659.7 million. Telecom Plus proposed a final dividend of 21 pence, taking its total dividend for the year to 40 pence, increased from 35 pence a year before.
Greene King, up 2.8%. Barclays upgraded the brewer and pub operator to Overweight from Equal Weight.
Vesuvius, up 1.7%. JP Morgan upgraded the engineering stock to Overweight from Neutral.
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FTSE 250 LOSERS
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Evraz, down 2.3% at 143.50p. The steel, mining and vanadium company's shares are down after UBS cut its price target to 130p from 170p, keeping a Sell rating.
Mitchells & Butlers, down 1.5%. Barclays cut the pub operator to Equal Wight from Overweight.
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AIM ALL-SHARE WINNERS
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Imaginatik, up 9.7%. Shares in Imaginatik have pushed higher in recent days amid reports that former Quindell chairman Rob Terry and his Quob Park Estate investment vehicle was building up a stake in the company. On Tuesday, Imaginatik confirmed that Terry has built up a stake in the company of more than 3%. Terry now holds 2.5 million shares in the company, both directly and via Quob Park, representing 3.032% of the issued share capital of the company.
Bilby, up 9.4%. The company, which is the holding company for gas heating and building services provider P&R Installation Co, said its pretax profit rose on the back of a rise in revenue, and as it said it would pay its maiden dividend, having listed in London in March. It also said it sees further opportunities for growth. Bilby said pretax profit for the 14 months to the end of March was GBP2 million, compared to a pretax profit of GBP0.8 million for the 12 months to the end of January 2014. Revenue in the 14-month period was GBP14.9 million, compared to GBP9.7 million in the 12-month period.
Digital Globe Services, up 8.5%. The online advertising company said it is promoting interim Chief Financial Officer Andrew Lear to a permanent position, and it expects to pay a dividend for its full year as it anticipates its earnings will meet market expectations. The company expects to post earnings before interest, tax, depreciation, amortisation and other costs for the year to end-June in line with market expectations. It said its revenue and gross margin recovered in the second half compared to the first, and as a result it expects to end the year with net cash ahead of expectations.
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AIM ALL-SHARE LOSERS
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Alecto Minerals, down 9.7% at 0.149 pence. The Africa-focused minerals explorer raised GBP300,000 via a discounted share placing. Alecto issued 300 million shares at 0.1p per share via Beaufort Securities.
By Daniel Ruiz; danielruiz@alliancenews.com
Copyright 2015 Alliance News Limited. All Rights Reserved.
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