Next Share News (NXT)

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Thursday.

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FTSE 100 - WINNERS

Next, up 1.9%. The homeware and clothing retailer reported higher profits and revenues for its recent financial year, driven by its online business. Revenue excluding VAT increased 5.4% to GBP3.74 billion, up from GBP3.55 billion the prior year, and profits excluding exceptional costs rose 12% to GBP695.2 million, up from GBP621.6 million a year earlier, when excluding a GBP44.9 million profit gain. It signalled its confidence by increasing its full-year dividend by 23% to 129 pence, in line with earnings per share growth.

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FTSE 100 - LOSERS

Resolution, down, 7.1%. The annuity provider is the blue-chip index's biggest loser despite the company trying to allay fears caused by UK Chancellor of Exchequer George Osborne's annuities shake-up, under which people are to be given greater flexibility and choice in how they manage their pension pots. Shares in the company continue to decline after they fell 4.6% on Wednesday after Osborne unveiled plans to remove the current requirement for most people to buy annuities in order to turn their pensions pots into income in retirement.

William Hill, down 2.8%. The betting firm is down for a second day, after falling 6.8% on Wednesday in the aftermath of Osborne's announcement in the 2014 UK Budget that the government will raise duty on gambling machines to 25% from 20%. William Hill said Thursday that the UK government's decision will cost the business GBP22 million, worse than its previous estimate of GBP16 million, as calculated against its 2013 results.

GlaxoSmithKline, down 2.1%. The pharmaceuticals giant said that a late stage trial of its MAGE-A3 cancer immunotherapeutic for patients with non-small-cell lung cancer did not meet two of its co-primary endpoints, as it failed to extend disease-free survival compared to a placebo. It did not extend disease-free survival in the overall group of patients who were MAGE-A3 positive, meaning those who have a tumour-specific antigen that is present in a variety of cancers but not in normal cells, the trial's first co-primary endpoint. It also did not extend disease-free survival in MAGE-A3 positive patients who did not receive chemotherapy, the second co-primary endpoint.

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FTSE 250 - WINNERS

Ophir Energy, up 3%. Having seen its shares plummet by 20% since the end of February, the oil and gas exploration company is amongst the index's biggest gainers Thursday despite saying its pretax loss widened significantly in its full year 2013 as exploration write-offs and impairments hit the company. The company reported that it added 254 million barrels of oil equivalent in net contingent resources in 2013, and it is now mulling over the potential of expanding Tanzania's first planned liquefied natural gas export terminal using a third Liquefied Natural Gas Train. A LNG train is the facility where gas is turned into liquid for transportation.

Savills, up 1.5%. The property advisor reported higher profits and revenues for 2013 as property transactions picked up in markets including the UK, US and parts of Asia, a trend it expects to continue this year. It reported a pretax profit of GBP70.1 million for 2013, up from GBP52.0 million in 2012, as revenues rose to GBP904.8 million, from GBP806.4 million. Its net profit rose to GBP50.8 million, from GBP36.8 million. The company also said 2014 has got off to a good start. It is seeing a slowdown in the Hong Kong property market, but said it expects this to be offset by growth elsewhere in Asia.

Ted Baker, up 1%. The clothing and accessories retailer has declared a 27% increase in its dividend and reported impressive profit and revenue growth in its recent financial year, driven by a successful online business and strong growth in the UK and overseas. For the financial year just ended, it reported that its pretax profit rose to GBP38.9 million, compared with GBP28.9 million a year earlier, after a strong performance right across the business, with revenues increasing to GBP321.9 million, up from GBP254.5 million a year earlier. Signalling its confidence, it increased its total dividend to 33.7 pence, up from 26.6 pence a year earlier.

Premier Farnell, up 0.7%. The company has posted a rise in pretax profit and revenue in 2013, and announced that it will acquire US engineering design services company AVID Technologies Inc for USD13 million. The firm, which produces technology for industrial markets including robotics, posted a pretax profit of GBP74.8 million in 2013, up from a restated GBP69.0 million in 2012, as revenue rose to GBP968.0 million from GBP952.0 million.

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FTSE 250 - LOSERS

Partnership Assurance, down 11%. After releasing disappointing results on Wednesday, the stock was smashed by the pension shake up announced as part of the budget and closed down 55%. As analysts begin to add up the likely cost to the sector from the budget changes, it appears that Partnership Assurance's sales are likely to continue their decline, with Barclays estimating the annuity market to decline by two-thirds over the next 18-months, leading the stock lower again Thursday.

Intu Properties, down 5.9% at 304.40p. The shopping centre investors said it will buy two more centres and take a 50% stake in a third for GBP867.8 million, a deal it will fund through GBP423.8 million in new debt facilities and a rights issue. It said it will buy all of the Westfield Derby shopping centre as well the Sprucefield retail park in Northern Ireland from Westfield. It will also buy a 50% stake in the Westfield Merry Hill shopping centre near Birmingham from Westfield, going into partnership with QIC which owns the other half of the business. Its fully underwritten rights issue to part fund the deal will offer two new shares for every seven existing shares at 180 pence, or ZAR32.28, a share. It hopes to raise gross proceeds of GBP500 million, or about GBP488 million net of costs.

Ladbrokes, down 5.3%. Like FTSE 100-listed William Hill, the bookmaker's shares continue to decline Thursday, having dropped 12% on Wednesday after the Chancellor said UK the government will raise duty on gambling machines.

HellermannTyton Group, down 4.6% at 309.70p. The cable tying and protection company's shares have dropped sharply after Doughty Hanson sold its remaining stake in the business. Doughty was joined by some members of the HellermannTyton management team in selling 46.9 million shares, or a 21.8% stake in the business, at 305 pence a share, raising gross proceeds of about GBP143.0 million.

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AIM - WINNERS

Rose Petroleum, up 22%. The natural resources company said its total revenue for its fourth quarter 2013 was flat, while its direct production costs fell significantly during the period. It said its total revenues for the fourth quarter was flat at USD2.4 million, compared to the previous quarter and previous year, while its direct production costs fell 11% to USD677.72 per ounce of gold, against USD760.07 per ounce in its third quarter, and fell 1.5% against its previous year.

Trakm8 Holdings, up 8.4%. The firm has been awarded a significant hardware order from a major UK wireless security and safety provider, part of a recently signed supply agreement which it expects to lead to revenues in excess of GBP1 million per year. It said that its recently acquired subsidiary Box Telematic has been awarded a GBP680,00 hardware order for remote wireless fire monitoring units. It said it expects all of the revenue gain to come through in its next financial year, commencing April 1.

EMED Mining, up 7.9%. The minerals development and exploration company has appointed Isaac Querub as chief executive officer of the company and vice president of its subsidiary EMED Tartessus, with immediate effect. It also said it has appointed Alberto Lavandeira as chief operating officer of the company and chief executive officer of EMED Tartessus with effect from April 14. Querub was the managing director of Glencore Spain from 1990 to 2003 while EMED said Lavandeira has over 35 years experience in operating and developing mining projects.

African Potash, up 5.4%. The potash exploration and development company has completed the acquisition of exploration seismic data at the Lac Dinga Project in the Republic of Congo. It said 415 line kilometres of data was acquired covering a 470 kilometres squared region on and around the Lac Dinga licence area.

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AIM - LOSERS

LED International Holdings, off 24%. The group said it is evaluating other potential avenues of funding, and is in advanced discussions with another party, as it is still yet to receive the subscription funds from Rubyfield Holdings and Speedy Dragon Holdings.

Majestic Wine, down 19%. The retailer said it has experienced challenging trading conditions since the start of the 2014 calendar year, and with two weeks to go until its year end, now expects like-for-like sales to be flat for the financial year as a whole, and pretax profit broadly in line with the previous financial year.

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By James Kemp; jameskemp@alliancenews.com; @jamespkemp

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