LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Monday.
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FTSE 100 - WINNERS
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Rolls-Royce Holdings, up 0.4%. The aerospace and engineering company won more than USD2 billion in Trent 700 engine deals, one covering TotalCare services in Saudi Arabia and one a Trent 700 engine order from International AirFinance Corp. The Saudi Arabia deal is worth USD1.3 billion and will see Rolls-Royce provide TotalCare engine service support for 20 Airbus A330 regional aircraft for SAUDIA, Saudi Arabia's national carrier. The International AirFinance deal will see Rolls-Royce provide Trent 700 engines for 20 Airbus A330s and is worth USD930 million.
Standard Chartered, up 1.3%. Bill Winters, the recently-appointed chief executive of the emerging markets-focused bank, has appointed a new management team reporting directly to him and made changes to the bank's structure as he tries to improve performance and cut USD1.8 billion in costs by the end of 2017. The new management team, which consists of 13 members, will be responsible for devising a plan by the end of the year to address the emerging markets banking group's performance, Standard Chartered said in a statement on Sunday.
Royal Dutch Shell, up 1.3%, and BG Group, up 1.2%. A report in the Financial Times suggested Shell may be planning to cut its capital expenditure for this year and said the company is expecting more savings than anticipated from its takeover of BG as it uses the enlarged structure to slash costs in its deepwater oil business and natural gas trading arm.
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FTSE 100 - LOSERS
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Randgold Resources, down 2.2%, and Fresnillo, down 1.9%. The gold miners are trading lower after gold prices hit a fresh five-year low amid expectations that a US interest rate hike will occur later this year. The precious metal fell to its lowest price since February 2010 overnight to USD1,073.40 an ounce, but has since recovered to trade at USD1,116.07. Also weighing on gold prices is the disclosure of lower-than-expected gold reserves held by China.
Marks & Spencer Group, down 0.8%. The clothing and food retailer was downgraded to Underperform by Credit Suisse, which also cut its price target to 500 pence from 550 pence.
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FTSE 250 - WINNERS
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AVEVA Group, up 28%. The engineering software company said it has struck a deal with Schneider Electric to acquire selected industrial software assets in a GBP1.3 billion reverse takeover. Under the terms of the deal, AVEVA will acquire the software assets on a debt-free, cash-free basis and will received GBP550 million in cash from Schneider Electric for AVEVA shares, giving Schneider a 53.5% stake in AVEVA. The GBP550 million Schneider will pay will be distributed to AVEVA shareholders, which will hold a 46.5% stake in the enlarged company.
Ladbrokes, up 2.9%. The Times reported Ladbrokes is close to securing a takeover of Gala Coral Group Ltd in a GBP3.5 billion deal which would make the combined entity the largest bookmaker in the UK. Ladbrokes shares surged higher in June after the talks were first revealed amid a wave of takeover activity in the gambling sector.
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FTSE 250 - LOSERS
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Lonmin, down 4.4%, Centamin, down 3.7% and Acacia Mining, down 3.7%. The mid-cap miners also are down on the lower gold price.
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AIM ALL-SHARE - WINNERS
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Rambler Metals & Mining, up 13%. The miner said it has completed a pre-feasibility engineering study and economic assessment aimed to integrate the mineral resource in the lower footwall zone into the life of mine plan for the Ming copper-gold mine in Canada. The miner said the study will allow the company to carry out a staged, low capital strategy for the optimisation of all the existing infrastructure which will allow the operation to run at full capacity of 1,250 metric tonnes per day by 2018.
Surface Transforms, up 11%. The company said it has secured the AS9100 certification required to supply the mainstream aerospace market. Surface Transforms said the quality management certification was secured in line with its pre-production contract signed with an unnamed mainstream aerospace company in September, which will lead to a sales at a contract maturity of GBP1.3 million a year. The company also secured an order for its carbon ceramic brakes from the same client.
Sabien Technology, up 11%. The energy-efficient technology company said it has raised GBP770,000 via a share placing. Sabien said it has placed a total of 9.9 million shares at 7 pence per share with institutional investors and has issued a further 1.1 million shares at the same price to TVI 2 Ltd, an existing shareholder in Sabien. Sabien said the placing was oversubscribed and said the proceeds will back its plans to roll out more pilot projects for its M2G technology.
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AIM ALL-SHARE - LOSERS
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88 Energy, down 14%. The oil and gas company said its shares in Australia have been suspended pending an announcement about a capital raising. The company said the suspension in Australia would not affect its London-listed shares.
Michelmersh Brick Holdings, down 7.6%. The brick maker said its pretax profit nearly doubled in the first half of 2015 on the back of better revenue and improved margins, as it outlined plans to reshuffle its management team at the end of the year. The company said its pretax profit in the six months to the end of June was GBP2.5 million, up from GBP1.3 million, a year earlier. In a separate statement, Michelmersh said that, from January 1, 2016, Frank Hanna and Peter Sharp will become the co-chief executives of the business. Hanna is currently the commercial director at Michelmersh, while Sharp is operations director. Martin Warner, the incumbent chief executive, will remain an executive director but will shift to the role of deputy chairman.
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By Sam Unsted; samunsted @alliancenews.com; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
31 Oct 2016 09:39
