LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Monday.----------FTSE 100 - LOSERS----------TUI, down 2.7%, easyJet, down 1.7%, International Consolidated Airlines Group, down 1.2%. The travel stocks were lower following disappointing annual results from Ryanair Holdings. The Irish carrier reported a significant fall in profit in a year which saw many EU airlines struggle due to higher oil prices and lower fares in a competitive market, and it warned of "zero" visibility on its results beyond the next few months. Ryanair shares were down 3.8%. ----------FTSE 250 - WINNERS----------Aston Martin Lagonda, up 3.6%. Bernstein raised the luxury sports car maker to Outperform from Market Perform. Last week, Aston Martin report a pretax loss for the first quarter of 2019 of GBP17.3 million, after a GBP2.8 million profit the year prior. The gross margin was down to 42% from 44%. Aston Martin sold 1,057 units during the quarter, up 10% year-on-year, with revenue rising 6% to GBP196.0 million. It lowered its expectations for the full year as a result. The strock remains down 24% so far in 2019.----------FTSE 250 - LOSERS----------Merlin Entertainments, down 5.8%. HSBC downgraded the amusement park and attractions operator to Reduce from Buy. ----------Metro Bank, down 2.8%. Investec cut the challenger bank to Sell from Hold after its GBP350 million share placing last week. ----------OTHER MAIN MARKET AND AIM - WINNERS----------Frontier Smart Technologies Group, up 71% at 25.25p. The audio and smart home software systems producer said it failed to reach an agreement with Science Group in respect of a takeover offer for Frontier. At the beginning of May, Frontier received a proposal from Science Group for a possible takeover offer at 30p per share. Frontier said it "remains focussed on its strategy" and reconfirmed expectations to report sales of approximately USD36.6 million. Furthermore, Frontier added that between May 9 and 17, Science Group acquired 3.7 million shares, or 9.0% of the company's capital. Science Group, a science and technology consultancy, separately noted that the average price paid for the shares was 12.50 pence for a total investment of GBP460,691. Science Group was up 1.3% at 205.70p.----------Echo Energy, up 20%. The oil and gas company announced a switch in focus in Argentina as well as a new chief executive. Echo has agreed to a new relationship with Argentina partner Compania General de Combustibles, which will see the two focus on Echo's Tapi Aike licence. Echo will now hold 19% of the licence and pay 19% of costs, "significantly" lowering the company's obligations. CGC will release USD2.1 million of cash earmarked for the Fraccion C, Fraccion D, and Laguna Los Capones assets to go to Tapi Aike. On the management front, Echo announced the promotion of Martin Hull as chief executive with immediate effect. He replaces Fiona MacAulay, who stepped down in December.----------OTHER MAIN MARKET AND AIM - LOSERS----------Low & Bonar, down 28%. The performance materials maker announced the upcoming departure of its chief executive and said its performance in the first half of its financial year will be "materially behind" the year before. Philip de Klerk will step down as CEO on July 1 and the company will move Non-Executive Chair Daniel Dayan to executive chair on July 2. The company does not plan to seek a new CEO straight away, but will review the situation "later in the year". The company said its leadership change stemmed from a need to accelerate its transformation programme, which began in late 2018. The firm also said it has made a slower recovery than expected in its second quarter, which ends May 31. This was attributed to continued market weakness and "the slow recovery of customer confidence" within its Coated Technical Textiles unit, which creates modified fabrics for outdoor use.----------
12 Sep 2016 15:05
