Next Share News (NXT)

LONDON (Alliance News) - The following stocks are amongst the biggest risers and fallers within the main London indices midday Wednesday.
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FTSE 100 WINNERS
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Weir Group, up 3.8%. Shares in the engineering company rose even though it said its order input in the first quarter fell 9% due to weak demand in oil and gas markets, which it expects to continue in the second quarter and which will result in further cost cuts being made. However, Weir said its minerals business remained resilient, with order input rising 5% and continued aftermarket growth partially offsetting the oil and gas-related challenges.

Next, up 2.9%. The fashion retailer reported 4.1% sales growth in the first quarter of its financial year, above its guidance for sales growth of between flat and up 3% for the whole of the first half. Sales were buoyed partly by a longer winter sale as well as a larger mid-season sale in its Directory business, while sales of more-profitable full-price items rose 3.2% of which 1.9% growth came from new space. Full-price sales were buoyed by an earlier launch of its summer "New-In" brochure, which "helpfully" coincided with much warmer weather. Next said it will pay a further special dividend of 60 pence per share as its share price has remained above its limit for conducting a buyback.

Vodafone Group, up 1.5%. Berenberg upgraded the mobile communications company to Buy from Hold and raised its price target to 270.00 pence from 214.00p, saying its operating trends will continue to improve. Berenberg analysts Paul Marsch and Laura Janssens expect Vodafone's return on assets and free cashflow to recover strongly in the financial year ending in 2017, which will support the attractive 5% dividend yield and dividend growth.
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FTSE 100 LOSERS
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Antofagasta, down 3.4%. The miner said production for the full year will be less than its previous guidance after production fell and costs increased in the first quarter of 2015 due to the ongoing disruptions at the Los Pelambres mine in Chile and as heavy rain affected its other operations. In the first quarter of 2015, the Antofagasta produced 146,400 tonnes of copper, down 14% from a year earlier and down 22% quarter on quarter, resulting in lower throughput.

British American Tobacco, down 1.5%. The tobacco company said revenue fell 5.8% in the first quarter of 2015 as exchange rates went against it, but it took market share, grew volumes of it key growth brands, and said revenue would have risen 1.7% if exchange rates had remained constant as price increases offset overall volume declines.

Barclays, down 0.6%. The bank reported a 27% drop in first-quarter pretax profit as it increased provisions relating to authorities' investigations into currency rigging by hundreds of millions of pounds. Pretax profit fell to GBP1.34 billion in the three months ended March 31 from GBP1.81 billion in the corresponding quarter of the prior year, while net profit fell to GBP465 million from GBP965 million. The bank's first-quarter dividend was maintained at 1.0 pence per share.
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FTSE 250 WINNERS
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NMC Health, up 5.9%. The company, which operates healthcare services in the UAE and which provides fertility services via its Clinica Eugin unit in Spain, said it has made two further acquisitions in the United Arab Emirates with the purchase of in-home healthcare services company Americare Group and medical centre operator Dr Sunny Healthcare Group. NMC has paid USD100 million for the two companies, and will fund the deals via existing cash and debt resources.

N Brown, up 4.0%. The online, catalogue and stores retailer's shares are higher even though it reported a decline in profit. It reported a 21% decline in profit to GBP76.3 million from GBP96.8 million a year before, having issued a profit warning back in March. Revenue fell only slightly though, to GBP818.0 million from GBP818.9 million. Both the group's final and total dividend for the year were held flat at 8.56 pence and 14.23p, respectively.

Greggs, up 2.7%. The bakery and food-to-go chain announced a GBP20 million special dividend but cancelled a GBP10 million share buyback after it completed a review of its capital structure, and said it now expects its results in the first half of its financial year to be ahead of its previous expectations after a strong first quarter.

Hellermanntyton Group, up 1.2%. The cable management services company said revenue rose in the first quarter of 2015, with growth in all regions and a robust performance in its automotive division. It said revenue in the quarter to the end of March was EUR169.8 million, 17% ahead year-on-year and boosted by favourable currency movements, particularly the depreciation of the euro.
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FTSE 250 LOSERS
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Drax Group, down 3.4%. The power plant firm said Finance Director Tony Quinlan will leave the company at the end of June to take a position at fellow FTSE 250-listed Laird. The electronics firm said its current CFO, Jonathan Silver, will leave the company on August 8 and will work with Quinlan when he joins to ensure a smooth transition. Silver announced he would leave Laird back in September.

Countrywide, down 3.1%. The estate agency and property services company said its revenue in the first quarter was slightly lower as tough market conditions hit its house sales business and a better performance in its lettings arm only partially offset the weakness. It said its revenue in the first quarter to the end of March was GBP154.2 million, down 2% year-on-year, but properties under management grew while it also saw good performances in its financial services arm and in its valuation and surveying business.
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AIM ALL-SHARE WINNERS
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The Real Good Food Company, up 23%. The baker and sugar producer said it entered into a conditional deal to sell its Napier Brown Sugar business for GBP34 million plus working capital to French ingredients company Teros Group. Real Good Food said the sale will move it into a net cash position and will provide the company with the resources to focus on its remaining business, with an emphasis on the cake decoration, food ingredients and premium bakery markets

Mosman Oil and Gas, up 14%. The oil company shares are higher after it said said an independent report has confirmed that the Murchison permit in the South Island of New Zealand is an "immediate priority" for the company. Mosman said the report from SRK Consulting (Australasia) has shown mean recoverable gas of 1.695 trillion cubic feet of gas and 164 million barrels of recoverable oil.

Atlantis Resources, up 11%. The tidal power company said it will buy Bristol-based tidal business Marine Current Turbines in an all-share deal that will result in seller Siemens AG taking a 9.99% stake in Atlantis. Atlantis said the deal will lead the company having "one of the largest portfolios of tidal current power projects in the UK".
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AIM ALL-SHARE LOSERS
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New World Oil and Gas, down 27% at 0.069 pence. The oil and gas company said it conducted a discounted share placing to raise GBP1.5 million to progress its projects in Belize and Denmark and other opportunities. It issued 2.72 billion new shares at 0.055p per share with existing and new investors to raise the GBP1.5 million, which will be used to develop its assets and pursue new opportunities. Following the placing, New World will have 3.43 billion shares in issue, almost five times its existing total.

Benchmark Holdings, down 26%. The aquaculture breeding, animal health and technical publishing company's shares are down after it issued a profit warning for the first half of its financial year, due to a weak performance for its Salmosan sea lice treatment, which has been hit by competition.

Hardide, down 15%. The surface coating technology company said it expects the second half of its financial year to be hit by reduced spending in the oil and gas industry. It said that while the decline in the oil price and subsequent spending cuts in the oil and gas industry did not have an impact on demand in the first half, the indications are that this will begin to eat into demand for its products in the second half.

Feedback, down 13%. The medical imaging software company warned that its loss in the current financial year will be wider than current market expectations, even though its revenue will meet hopes, due to contractual settlement costs, higher sales of less-profitable products, and the timing of revenue recognition for its new TexRAD texture analysis software product.

By Daniel Ruiz; danielruiz@alliancenews.com

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