LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Wednesday.----------FTSE 100 - LOSERS----------Anglo American, down 4.2%, Antofagasta, down 4.3%, Glencore 4.4%, Rio Tinto, down 3.0%. Blue-chip mining stocks fell as the Chinese manufacturing sector contracted. The Caixin Manufacturing Purchasing Managers' Index fell to 49.7 points in December from 50.2 in November. Economists had expected it to weaken to 50.1 points, but the fall below the 50 point mark which separates contraction from expansion was worse than forecast. The print was the lowest since May 2017, when the index stood at 49.6 points.----------International Consolidated Airlines Group, down 2.7% at 601.20 pence. Citigroup downgraded the airline group to a Sell rating from Neutral, and cut its price target to EUR5.60 from EUR7.50. IAG's shares were trading at EUR6.67 in Madrid.----------Smith & Nephew, down 2.3% JPMorgan downgraded the medical devices maker to a Neutral rating from Overweight, and reduced its target price to 1,477 pence from 1,487p. Smith & Nephew's shares are currently trading at 1,430.0p.----------FTSE 250 - WINNERS----------Energean Oil & Gas, up 5.1%. The company signed a gas sales and purchase agreement with independent power producer IPM Beer Tuvia worth approximately USD900 million in total over 19 years. Under the contract, Energean will supply an estimated 5.5 billion cubic metres of gas from its Karish and Tanin floating production storage and offloading vessel, located offshore in Israel. The agreement, which will begin around 2024, adds between 265 million and 380 million cubic metres per year of gas sales to Energean. Energean estimates that the agreement will contribute around USD900 million in revenue over the life of the contract.----------FTSE 250 - LOSERS----------Hammerson, down 4.6%. The shopping centre owner and operator paused its GBP300 million share buyback programme announced in July 2018 as it entered the closed period following the end of its financial year on Monday. The firm had targeted to achieve these buybacks by July 2019. So far. it had acquired GBP129 million - or 43% - of this target. In addition, Hammerson confirmed its 2018 results to be "in line with market expectations". Also, HSBC cut Hammerson's price target to 543 pence from 618p, keeping its Buy rating.----------Intu Properties, down 4.5%. HSBC cuts the shopping centre owner to 136 pence from 236p, keeping its Hold rating.----------OTHER MAIN MARKET AND AIM - WINNERS----------Ophir Energy, up 33%. The Africa & Asia-focused oil and gas company confirmed it has received a takeover approach from Indonesia's PT Medco Energi International. Ophir said that it and Medco are in discussions about a cash offer, and that there could be "no certainty" that a firm offer will be made. They provided no details about the offer being discussed. Jakarta-listed Medco Energi has until January 28 to make a firm offer for Ophir.----------Amerisur Resources, up 12%. The South American-focused oil and gas producer said that short-term testing of the CPO-5 block in Colombia had encouraging initial flow rates with no indication of oil-water contact. Initial short term testing of the Indico-1 well at CPO-5 flowed 35.9 degrees API oil to surface at a series of choke sizes from the lower sands of the Une formation at CPO-5, with a gross final flow rate of 4,530 barrels of fluid per day and water cut of 0.3%. Amerisur holds a 30% interest in CPO-5 while ONGC Videsh holds the remaining 70% and is the operator.----------Matomy Media, up 53%. The advertising firm reported for the first nine months of 2018 a pretax loss of USD39.3 million, due to USD30.9 million in impairments of goodwill and intangible assets. Revenue came up to USD101 million. This was compared to a pretax loss of USD16.7 million and revenue of USD245 million for all of 2017. Matomy Media said it has exited all of its unprofitable operations, and will focus on its domain monetisation activity.----------Richland Resources, up 20%. The sapphire producer and gemstones developer said it is in discussions with one party for the sale of the Capricorn Sapphire mine in Queensland, Australia. In addition, Richland has secured an extension of its GBP400,000 loan facility to February 28 from December 31.----------
29 Jan 2016 08:32
