(Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Monday.----------FTSE 100 - WINNERS----------Royal Bank of Scotland, up 2.2%. The state-backed lender said the completion of the merger between two Saudi Arabia based banks - Alawwal bank and Saudi British Bank - will lead to a "positive and material financial impact". RBS, through its Dutch-domiciled investment bank NatWest Markets, was part of a consortium including Stichting Administratiekantoor Beheer Financiele Instellingen and Spain's Banco Santander that held an aggregate 40% equity stake in Alawwal bank. The interest of RBS was equivalent to a 15.3% shareholding in Alawwal bank. RBS said as a result of the merger completion on Sunday, the NatWest Markets unit would recognise an income gain on the disposal of the Alawwal bank stake for shares in Saudi British Bank of GBP400 million and a reduction in risk weighted assets of GBP4.7 billion. RBS will also remove legacy liabilities of GBP300 million due to the merger. In total, RBS will record a GBP700 million profit attributable to shareholders as a result of the Saudi bank combination. It also anticipates the merger to increase its CET1 core capital ratio at March 31 by 60 basis points, being 20 points attributable profit and 40 points to reduction in risk weighted assets.----------FTSE 100 - LOSERS----------easyJet, down 4.5%, International Consolidated Airlines Group, down 3.6%. The airlines were lower following a profit warning from peer Deutsche Lufthansa. The German airline reduced its annual financial outlook, due to narrowed margins and losses by its budget carrier Eurowings. Lufthansa blamed "price deterioration in Europe caused by market-wide overcapacities and aggressively growing low cost competitors are putting pressure on yields in the European short-haul market". The German airline said it now expects adjusted earnings before interest and tax of EUR2.0 billion to EUR2.4 billion in 2019, on the basis of low-single-digit revenue growth. In 2018, Lufthansa reported adjusted Ebit of EUR2.8 billion, down from EUR3.0 billion in 2017. Lufthansa shares were down 12% in Frankfurt. In addition, eastern Europe-focused airline Wizz Air was down 3.2% and Irish carrier Ryanair Holdings was down 4.3%. ----------DS Smith, down 3.1%. Exane BNP cut the paper and packaging company to Underperform from Neutral. ----------British American Tobacco, down 1.7%. Morgan Stanley downgraded the Dunhill and Lucky Strike cigarette maker to Underweight from Equal Weight.----------FTSE 250 - WINNERS----------Babcock International, up 4.2%. The defence outsourcer confirmed it rejected in January an approach from outsourcer Serco Group. The proposal was unsolicited and "highly preliminary", Babcock said, and involved an all-share merger. No further proposal has been received since January. The Sunday Times had reported Serco made at least two attempts to merge with Babcock. Serco shares were down 0.2%. ----------Hammerson, up 2.5%. Peel Hunt raised the shopping mall operator to Add from Hold.----------FTSE 250 - LOSERS----------Kier Group, down 10%. The troubled construction firm said it will cut 1,200 jobs, suspend dividend payments and earmark several non-core business disposals, as it looks to get its balance sheet under control. Kier put up for sale Kier Living, its housebuilding business, saying that despite being a strong business it would require significant funding to keep growing. So far there have been "a number" of expressions of interest. Kier Property also has been put up for sale, with the investment required likewise "incompatible" with Kier's capital requirements, and Kier also will be quitting the Management and Environmental Services businesses. Kier suspended dividend payments for its year ending June, and the following financial year. At the interim stage, Kier slashed its first half dividend 79% to 4.9 pence a share. "New CEO Andrew Davies is not stopping at just the dividend. He is taking drastic action in an attempt to avoid Kier suffering a similar fate to its doomed peer Carillion. Jobs are being slashed, the housebuilding unit is being sold and the company is prioritising cash flow. These all seem like sensible steps but delivering on this plan will not be easy," said AJ Bell's Russ Mould. ----------OTHER MAIN MARKET AND AIM - WINNERS----------Union Jack Oil, up 26%, Reabold Resources, up 21%. The oil and gas firms announced potentially the biggest onshore find in the UK since 1973. The gas discovery has been made on the West Newton A-2 well in Humberside in the north-east of England, an area with "an abundance" of production infrastructure, Reabold said. Reabold owns 24% of the PEDL183 licence on which the well is situated, with Union Jack owning just shy of 17%. The licence is operated by Rathlin Energy UK. The well was drilled to a depth of 2,061 metres, finding a net 65-metre hydrocarbon interval within the Kirkham Abbey formation, which indicates a "substantial" accumulation, Reabold said. Overall, the field could include "at least" 189 billion cubic feet of gas, equivalent to around 31.3 million barrels of oil. Drilling is finished, and planning has already been received for testing of the well. This will start in the third quarter of the year, Reabold added. ----------OTHER MAIN MARKET AND AIM - LOSERS----------Staffline Group, down 30%. The recruiter said it would scrap its dividend and announced plans for a GBP30 million share placing, in a bid to reduce debt. Staffline is planning a GBP30 million share placing in order to cut its ratio of net debt to underlying earnings before interest, depreciation, taxation, and amortisation to below two times. If an equity capital raise goes ahead, Staffline also expects to launch a GBP7 million open offer "to enable wider shareholder participation". Staffline said it will not be recommending a final dividend for 2018 but did reiterate its guidance for an underlying 2018 performance "in line with expectations". Moreover, the company expects its underlying earnings before interest and taxation in 2019 to be somewhere between GBP23 million and GBP28 million. Net debt at the end of 2019, before proceeds of any equity capital raise, is due "to be in line with current market expectations". In May, Staffline had warned that it was facing headwinds in its training and recruitment divisions. On Monday, Staffline said it may require a waiver of possible future breaches to the leverage covenant in its lending agreements.----------
UK earnings, trading statements calendar - next 7 days
Thursday 18 May | |
Brighton Pier Group PLC | Full Year Results |
BT Group PLC | Full Year Results |
Burberry Group PLC | Full Year Results |
ConvaTec Group PLC | Trading Statement |
easyJet PLC | Half Year Results |
Energean PLC | Trading Statement |
Future PLC | Half Year Results |
Helios Towers PLC | Q1 Results |
International Distributions Services PLC | Full Year Results |
Investec PLC and Ltd | Full Year Results |
National Grid PLC | Full Year Results |
Nexus Infrastructure PLC | Half Year Results |
Premier Foods PLC | Full Year Results |
Premier Miton Group PLC | Full Year Results |
TheWorks.co.uk PLC | Trading Statement |
Tritax EuroBox PLC | Half Year Results |
Tyman PLC | Trading Statement |
Vesuvius PLC | Trading Statement |
Friday 19 May | |
IQE PLC | Full Year Results |
Knights Group Holdings PLC | Trading Statement |
Smiths Group PLC | Q3 Results |
Titon Holdings PLC | Half Year Results |
Tharisa PLC | Half Year Results |
Monday 22 May | |
Big Yellow Group PLC | Full Year Results |
Chrysalis Investments Ltd | Trading Statement |
Henderson European Focus Trust PLC | Half Year Results |
Kainos Group PLC | Full Year Results |
Pershing Square Holdings Ltd | Q1 Results |
Ryanair Holdings PLC | Full Year Results |
Schroder Oriental Income Fund Ltd | Half Year Results |
Wincanton PLC | Full Year Results |
Tuesday 23 May | |
Assura PLC | Full Year Results |
Avon Protection PLC | Half Year Results |
Benchmark Holdings PLC | Half Year Results |
Bytes Technology Group PLC | Full Year Results |
Caledonian Trust PLC | Full Year Results |
Calnex Solutions PLC | Full Year Results |
Cranswick PLC | Full Year Results |
Engage XR Holdings PLC | Full Year Results |
FD Technologies PLC | Full Year Results |
Forterra PLC | Full Year Results |
Harworth Group PLC | Trading Statement |
Helical PLC | Full Year Results |
Hilton Food Group PLC | Trading Statement |
Ixico PLC | Half Year Results |
JPMorgan China Growth & Income PLC | Half Year Results |
Pebble Group PLC | Full Year Results |
Princess Private Equity Holding Ltd | Q1 Results |
Residential Secure Income PLC | Half Year Results |
RS Group PLC | Full Year Results |
Schroder AsiaPacific Fund PLC | Half Year Results |
Seraphim Space Investment Trust PLC | Q1 Results |
SSP Group PLC | Half Year Results |
Topps Tiles PLC | Half Year Results |
Trellus Health PLC | Full Year Results |
Victorian Plumbing Group PLC | Half Year Results |
Watkin Jones PLC | Half Year Results |
Wednesday 24 May | |
Aviva PLC | Trading Statement |
Bakkavor Group PLC | Trading Statement |
Bodycote PLC | Trading Statement |
C&C Group PLC | Full Year Results |
Close Brothers Group PLC | Trading Statement |
Ediston Property Investment Co PLC | Half Year Results |
Empiric Student Property PLC | Trading Statement |
Esken Ltd | Full Year Results |
Great Portland Estates PLC | Full Year Results |
Gym Group PLC | Trading Statement |
HICL Infrastructure PLC | Full Year Results |
Intertek Group PLC | Trading Statement |
Kier Group PLC | Trading Statement |
Kingfisher PLC | Q1 Results |
LondonMetric Property PLC | Full Year Results |
Majedie Investments PLC | Half Year Results |
Marks & Spencer Group PLC | Full Year Results |
Mediclinic International PLC | Full Year Results |
Mortgage Advice Bureau Holdings PLC | Trading Statement |
N Brown Group PLC | Full Year Results |
Petershill Partners PLC | Trading Statement |
Purplebricks Group PLC | Trading Statement |
Regional REIT Ltd | Trading Statement |
Sabre Insurance Group PLC | Trading Statement |
Severn Trent PLC | Full Year Results |
Sondrel Holdings PLC | Full Year Results |
SSE PLC | Full Year Results |
Tullow Oil PLC | Trading Statement |
Wynnstay Properties PLC | Full Year Results |
Zotefoams PLC | Trading Statement |
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