Ocado Share News (OCDO)

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Monday.----------FTSE 100 - WINNERS----------Fresnillo, up 2.3%. The miner tracked the spot gold price higher as demand for safe haven assets increased. The precious metal was quoted at USD1,314.00 per ounce Monday, up from USD1,300.10 at the London equities close on Friday.----------FTSE 100 - LOSERS----------Ocado Group, down 3.6%. Jefferies downgraded the online grocer to an Underperform rating from Hold, but raised its target price to 600 pence from 460p.----------ITV, down 3.6%. Goldman Sachs resumed covaerage on the broadcaster with a Neutral rating, and a target price of 121p.----------Informa, down 2.2%. Goldman Sachs downgraded the events and publishing company to a Neutral rating from Buy.----------FTSE 250 - WINNERS----------Centamin, up 7.7%. The Egyptian gold miner also tracked the price of the precious metal higher.----------FTSE 250 - LOSERS----------Kier Group, down 42%. The construction firm said it has continued to experience volume pressures within its Highways, Utilities and Housing Maintenance businesses. In addition, despite double-digit order book growth, the Buildings business unit's revenue growth for 2019 will be lower than previously forecast. This will impact the Kier's financial results for the year ending June 30, with revenue expected "broadly in line" with financial 2018 and underlying operating profit around GBP25 million lower than previously guided. Furthermore, Kier said it is likely to report a net debt position as at June 30 that "would have an adverse impact on 2019 average month-end net debt position".----------OTHER MAIN MARKET AND AIM - WINNERS----------Rainbow Rare Earths, up 21%. The natural resources company reported the securing of new funding with a shareholder, even as production at its Gakara project in Burundi remains challenging. Major shareholder Pella Ventures Ltd has agreed to provide Rainbow with a USD700,000 unsecured loan to support current operations. The term loan is for 12 months, at 15% interest. On the production front, Rainbow achieved 347 tonnes of run-of-mine production at Burundi's Gakara in the three months to March, Rainbow's third quarter. This compares to 371 tonnes the prior quarter. However, concentrate sold fell to 100 tonnes from 300 tonnes. "Production at the company's Gakara project in Burundi in the three months to March remained challenging. Rainfall during the period disrupted mining operations as the locally-rented haul trucks available proved incapable of performing in wet conditions which limited waste stripping and dumping," the company said.----------Argo Blockchain, up 20%. The cryptomining services firm said it expects to generate the equivalent of 420 bitcoin worth of crypto assets in its balance sheet by the end of the second quarter of 2019. Given the May 31 price of USD8,575 per bitcoin, this would be around GBP2.9 million. The GBP2.9 million figure is 57% higher than the previous estimate of GBP1.8 million and results from a sharp rise in cryptocurrency prices of around 49% as well as higher production from Argo's new and existing equipment. Argo said trading conditions have been "significantly better than expected" since its last update on May 8, with its May results necessitating an upgrade in expectations for the second quarter.----------Microsaic Systems, up 18%. The spectrometry instruments said it has developed proof of concept workflows to analyse, in real-time, complex samples from bioreactors. The system was tested in an independent laboratory against traditionally accepted bioanalysers. "Microsaic's MS technology detected metabolites not usually seen by traditional methods during the bio-manufacturing process," the company explained.----------OTHER MAIN MARKET AND AIM - LOSERS----------Scapa Group, down 45%. The healthcare firm said it would seek legal counsel after receiving notice that ConvaTec Inc, part of wound dressings maker ConvaTec Group of the early termination of a supply agreement between the companies. On Friday last week, Scapa received notice from ConvaTec that it was terminating the master supply agreement with Scapa Tapes North America. The agreement is a binding commitment for a minimum of USD30 million of revenue per year. Accompanying the notice, Scapa said there was an action for a declaratory judgment concerning the agreement, filed by ConvaTec in the federal court in New Jersey. ConvaTec shares were down 0.7%.----------Fulcrum Utility Services, down 26%. The gas and electricity infrastructure services provider delayed the release of its financial results for the year to the end of March to early July, having previously scheduled to release its results on Tuesday. However, Fulcrum has retained its expectations of recording annual revenue of around GBP57 million versus GBP44.6 million the year before, and adjusted earnings before interest, taxes, depreciation and amortisation of GBP11 million versus GBP8.4 million previously.----------