Legal & General Share News (LGEN)

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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Inmarsat, up 2.7%. The satellite communications company said it has entered a strategic partnership with Australia-based satellite services provider SpeedCast International to deliver Inmarsat's Fleet Xpress maritime broadband service. Under the partnership SpeedCast will integrate the Fleet Xpress service within its own maritime services portfolio, and over the next five years will roll out Fleet Xpress to around 2,000 vessels. Inmarsat said the two-way partnership will enable Inmarsat to use SpeedCast's "unrivalled" global Ku-band satellite network for its Xpress link customers.

Randgold Resources, up 1.3% and Fresnillo, up 0.2%. The stocks were tracking the rising gold price, as investors looked for safe-haven assets amid global economic fears and ahead of the UK's EU referendum. Gold was quoted at USD1,283.90 an ounce, compared to USD1,268.40 at the equities close Friday. In the FTSE 250, gold miner Centamin was up 1.7%.
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FTSE 100 - LOSERS
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Lloyds Banking Group, down 2.2%, Barclays, down 1.8%, Schroders, down 1.5%, Hargreaves Lansdown, down 1.3% Standard Chartered, down 1.3%, Standard Life, down 1.3%, Legal & General Group, down 1.2%. The financial services stocks were down over concerns surrounding the EU referendum next week. Investors' confidence was hit after a poll published Friday gave the Leave campaign a 10 percentage-point lead.

Vodafone Group, down 1.4%. The mobile communications company was downgraded to Neutral from Outperform by Macquarie.
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FTSE 250 - WINNERS
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Hiscox, up 0.5%. The insurer was initiated with an Outperform rating by Credit Suisse.

Restaurant Group, up 0.3%. The Chiquito, Frankie & Benny's and Garfunkel's parent was upgraded to Neutral from Sell by Citi.
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FTSE 250 - LOSERS
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G4S, down 5.9%. The security services company said Omar Mateen, the man who perpetrated a mass shooting in a nightclub in Florida early Sunday, had been employed by the company since September 2007. G4S said that Mateen was off-duty at the time of the incident. "Mateen underwent company screening and background checks when he was recruited in 2007, and the check revealed nothing of concern. His screening was repeated in 2013 with no findings," the company said in a statement. G4S said that it is "cooperating fully" with law enforcement authorities, including the FBI. It said that in 2013 it learned that Mateen had been questioned by the FBI, but that enquiries were subsequently closed.
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MAIN MARKET AND AIM - WINNERS
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Triad Group, up 26%. The information technology services provider reported a more than doubling of pretax profit in its recently ended financial year, and said its new year has begun with a strong order book. For the year to end-March, the company reported a pretax profit of GBP863,000, more than doubled from GBP352,000 the year before, as revenue rose to GBP28.3 million from GBP23.5 million. Triad attributed the rise in revenue to growth in key accounts, and an increase in the length of its client engagements.

Metals Exploration, up 9.4%. The miner said it successfully poured its first gold dore at the Runruro project in the Philippines. The company started test running and debugging the processing plant and associated operations in May and has now poured its first gold dore, a semi-pure alloy of gold and silver which is usually created at the mine site before being purified further in a refinery. "The gold poured was predominately recovered from the gravity circuit. The carbon-in-leach circuit has commenced test running and debugging operations with the BIOX circuit forecast to commence within seven to ten days," said the company.

Union Jack Oil, up 7.4%. The onshore oil and gas exploration company and UK-focused oil and gas company Egdon Resources struck a deal concerning the PEDL182 licence that homes the Broughton North prospect in Lincolnshire that will align the interests of all the companies involved in that licence and the adjoining PEDL180 licence. Union Jack originally acquired a 8.33% interest in PEDL180 back in 2013 and the partners on the licence determined that the Wressle-1 discovery that was made extended into the PEDL182 licence which lies immediately north of PEDL180. As a result a new deal has been struck which will see Union Jack acquire an interest in PEDL182 which will align the interests held by those involved in both PEDL180 and PEDL182. Egdon shares were up 2.2%.
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MAIN MARKET AND AIM - LOSERS
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Fitbug Holdings, down 19%. The wearable health tracker maker said it is considering raising equity in the near future and that talks are underway with its lenders regarding the company's debt pile, as the company reported a wider loss in 2015 as revenue dropped and costs rose. Fitbug reported a GBP6.5 million pretax loss in 2015 compared to the GBP3.8 million loss in 2014, as revenue almost halved to GBP1.3 million from GBP2.3 million. Talks with potential investors is continuing, but any share issuance would need approval from shareholders. The company said it has agreed to take a further loan from NW1 Investments worth GBP121,000. That will be repayable at the end of July 2017, in line with its other loans from NW1 and will carry an interest rate that is 2.5% per annum above the base lending rate of the Bank of England, it said.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun

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