LONDON (Alliance News) - The following stocks are the leading risers and fallers on the main London indices early Monday afternoon.
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FTSE 100 - Winners
Aberdeen Asset Management, up 2.1%, is the biggest gainer on the FTSE 100. The investment management group has announced that a strong cost-control culture and the investor inflow to its higher-margins products means that underlying pre-tax profit for the year to 30 September 2013 is now expected to be towards the upper end of market forecasts.
Vedanta, up 0.8%. The natural resources company's share price has increased on the back of Citigroup raising its price target to 1,150 pence from 1,070p.
Vodafone is up 0.8% after UBS raised its price target for the company to 245p, from 230p.
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FTSE 100 - Losers
Randgold Resources, down 2.7%, Fresnillo, down 2.0%, and Anglo American, down 2.2%, are three of the biggest fallers on the blue-chip index. The gold mining companies are all suffering from the weak price of gold. Gold is currently trading down 0.3% at USD1321.55 per ounce.
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FTSE 250 - Winners
Vesuvius, up 4.6%, is the biggest winner on the FTSE 250. Although there is no specific cause of this jump in price, Peel Hunt analyst Dominic Convey believes that the stock is rebounding following a decreasing share price last week.
Dairy Crest is up 1.1% after the dairy foods company issued its trading update for the six months ending September 30. The company stated that in a challenging trading environment it would report a steady first-half performance. Results would benefit from a lower interest charge compared to last year, as expected. Sales of the company's four key brands are together likely to be broadly the same as they were in the prior-year period, when they grew 11%.
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FTSE 250 - Losers
Polymetal International, down 2.6%, is another gold miner suffering from the weakening price of gold.
Centamin, down 2.2%, is retracing after highs at the end of last week on the news that it had entered into a joint venture with Alecto Minerals for operations in Ethiopia. Meanwhile, AIM-listed Alecto is off 20%.
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AIM - Winners
Ariana Resources share price has soared, 61%, after it announced that it has discovered four highly mineralised gold-silver zones at its Red Rabbit Gold Project in western Turkey. The discovery has substantially increased the number of gold-silver bearing veins mapped in the region.
Imaginatik, up 26%. The business software solutions company announced that it has signed a three-year global innovation-solutions contract with Shell. The deal involves the construction of an innovation challenge platform for the oil giant's graduate programme, and is in talks on a number of other potentially "significant" contracts.
Nyota Minerals, up 23%, continue to climb following the news that its biggest shareholder had launched an attempt to oust Nyota's chief executive. Centamin is unhappy with the way Nyota is being managed and wants to move strategy on.
Plethora Solutions Holdings, up 13%, has seen its share price increase at a slower rate than on Friday, when the company announced that its premature ejaculation spray has moved a step closer to receiving EU approval.
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AIM - Losers
Savile Group shares drop 39% after the company said that it was seeking new funding and moving immediately to cut costs. The human-resources consulting group announced that its main business was hit by a big downturn in demand over the summer that it hasn't improved much this month. Savile said the lower sales and losses had hit its cash reserves, and it is therefore looking at ways of getting additional funding.
Alecto Minerals, down 20%, retracing from its Centamin-inspired gains on Friday.
Toumaz, down 1%. The company has announced that pretax losses widened for the first half. The low-power wireless semiconductor and software technology company posted pretax losses of GBP7.6 million for the period ended 30 June, compared with losses of GBP4.9 million a year earlier, as administrative expenses increased to GBP11.1 million, from GBP5.2 million in 2012.
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By James Kemp; jameskemp@alliancenews.com
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