LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Friday.----------
FTSE 100 - LOSERS----------
Kingfisher, down 2.3%. The home improvement retailer, which owns B&Q, has suffered from a number of broker price cuts. Barclays, UBS, CFRA, Deutsche Bank, RBC, Societe Generale, and HSBC have all lowered the price targets for the company. ----------
FTSE 250 - LOSERS----------
KAZ Minerals, down 11%. The resource company, whose shares rose sharply Thursday after a strong rise in both interim profit and revenue, had its price target lowered by brokers UBS, Deutsche Bank, Credit Suisse, and JPMorgan. ----------
OTHER MAIN MARKET AND AIM - WINNERS----------
Airea, up 17%. The floor covering manufacturer said its profit and revenue for the first half of 2018 increased after it closed its loss-making carpets business. For the six months to June 30, Airea reported pretax profit up by 18% to GBP1.3 million. Meanwhile, revenue increased 12% year-on-year to GBP9.1 million. During the six month period, the company closed its loss-making residential carpets business Royalux. To explain the benefit of the closure, the company said if it includes Royalux's results then group pretax profit dropped to GBP700,000 from GBP1.3 million reported on a continuing basis. Airea declared an interim dividend of 1.75p per share, unchanged from the prior year.----------
7digital Group, up 10%. The music solutions provider has signed a contract with music video platform Triller to provide access to music clips and manage label reporting. The contract initially covers an 18-month period and will contribute to 7digital's revenue from 2018 onward. Triller currently has 29 million users across 14 countries on its artificial intelligence-driven platform. "We are delighted to be announcing this deal with Triller. 7digital is expert at providing access to music for innovative platforms of this type, having previously partnered in 2016 with musical.ly, another fast-growing social media platform based around video and music with a strong international footprint," said Chief Executive Simon Cole.----------
OTHER MAIN MARKET AND AIM - LOSERS----------
Canadian Overseas Petroleum, 22% lower. The company is raising GBP3 million through the issue of 895.5 million new shares at 0.335 pence each, with the cash going towards on-going general expenses. ----------
MediaZest, down 11%. The firm said it is disappointed with its annual results which showed a widened loss and a drop in revenue due to significant project delays. For its year ended March 31, the company, which creates audio-visual solutions, reported its pretax loss widened to GBP256,000 from GBP146,000 a year ago. Meanwhile, revenue dipped 6.7% to GBP2.8 million. The company said annual performance was hit by "particularly frustrating" project delays, whose financial contribution will now be recognised in financial 2019.----------
Dukemount Capital, down 12%. For the year to April 30, the company posted a pretax loss of GBP285,968 compared to GBP177,149 a year ago. The loss was due to the cost of its activities which included pursuing transactions, acquiring its first property, and maintaining its listing on the Official List of the UK Listing Authority, the company explained. Dukemount was created to acquire, develop and manage a property portfolio specialising in the supported living and hotels sectors, therefore it did not make any revenue. "The group has explored numerous opportunities during the year and whilst progress has not been as fast moving as we would have liked we do consider that we are now working with the right parties on the right properties and look forward to moving ahead with our first two projects and using this model as a blueprint for future developments," Chairman Geoffrey Dart said.----------
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