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Pin to quick picksKodal Minerals Share News (KOD)

Share Price Information for Kodal Minerals (KOD)

London Stock Exchange
Share Price is delayed by 15 minutes
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Share Price: 0.495
Bid: 0.49
Ask: 0.50
Change: 0.011 (2.30%)
Spread: 0.01 (2.041%)
Open: 0.48
High: 0.49
Low: 0.482
Prev. Close: 0.479
KOD Live PriceLast checked at -

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WINNERS & LOSERS SUMMARY: Next Shares Hit By Downgrade, Retail Survey

Fri, 04th Sep 2015 10:02

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Friday.
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FTSE 100 - LOSERS
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Next, down 3.7% at 7,545.00 pence. Exane BNP Paribas cut the retailer to Underperform from Neutral, lowering its price target on the stock to 7,400p from 7,700p. Meanwhile, the BDO High Street Sales Tracker survey for August on Friday showed the UK high street had its worst month since November 2008, with sales declining year-on-year as consumers decided to desert the high street in favour of taking holidays abroad. The survey, published by accountancy firm BDO, showed UK high street sales were down by 4.3% in August, the worst performance for the sector since the financial crisis in 2008 and the fourth consecutive month of like-for-like declines. It is the first time figures for May to September have been consistently negative since 2009, BDO said. Shares of fellow retailer Marks & Spencer are down 1.8%.
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GKN, down 3.2% at 272.20p. Investec has moved its recommendation on GKN to Hold from Buy and has cut its target price to 300 pence from 370p. Investec has adopted a more cautious view on the outlook for the engineering company's driveline and powder metallurgy revenue and profit growth to reflect a potential slowdown in automotive production in China and other emerging markets. Overall, Investec has cut its earnings per share estimates for 2015 by 3% and by 10% for 2016.

FTSE 250 - WINNERS
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Booker, up 1.8% at 178.70p. JPMorgan raised its price target on the grocery wholesaler to 200 pence from 174p previously, and reiterated an Overweight rating. The change comes one day after Booker said that sales fell in the ten weeks to August 28, hit by the ban imposed on small stores displaying tobacco products, though its non-tobacco sales edged higher. The company was boosted earlier this week when its acquisition of Musgrave Retail Partners GB was approved by the UK's Competition and Markets Authority.
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MAIN MARKET AND AIM - WINNERS
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IS Solutions, up 33%. The software company said its revenue and profit are both set to beat market expectations for the full year amid strong trading in its analytics products and from the acquisition of 'big data' company Celebrus late in 2014. The company reported strong underlying demand for its analytics products, with sales "well ahead" of its expectations. It has won two major contracts from financial services sector clients for its analytics platform, which will be worth around GBP4.0 million in revenue for the year to the end of March 2016 and which will add around GBP350,000 a year in recurring revenue from thereon.

Beowulf Mining, up 11%. The exploration and development company focused on Sweden said it has been invited to give its views on the Kallak North project in Sweden, while the process for gaining approval of the project appears to be moving to the final stages. "We respect the process that The Government of Sweden is conducting with regard to our application and are pleased that we appear to be in the final stages," said Kurt Budge, Beowulf's chief executive.
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MAIN MARKET AND AIM - LOSERS
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Kellan Group, down 24%. The recruitment company is trading lower despite reporting that it turned to profit in the first half of 2015 as its total revenue increased and the restructuring it undertook in 2014 delivered cost benefits. Pretax profit for the six months to the end of June was GBP187,000, a swing from the GBP74,000 loss it made a year earlier. 

Kodal Minerals, down 20%. The mining and exploration company wrote off the carrying value of its Kodal phosphate and iron project in southern Norway as it slumped to a GBP4.0 million pretax loss in the year ended March 31, compared with the GBP232,705 loss in the prior year. The impairment charges were booked due to slumping iron prices, and the company said it will be cautious as it works on its projects due to the wider commodities sell-off. It will continue to appraise low-cost opportunities.

By Samuel Agini; samagini@alliancenews.com; @samuelagini

Copyright 2015 Alliance News Limited. All Rights Reserved.

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