LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Monday.
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FTSE 100 - WINNERS
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Intertek, up 8.7%. The inspection, testing and certification services company said its pretax profit rose in the first half of 2015 on the back of margin improvements and better revenue. The company said its pretax profit for the six months to the end of June was GBP139.1 million, up from GBP119.8 million a year earlier, driven by its revenue edging up to GBP1.06 billion from GBP1.02 billion and by an improvement in its margins, with its operating margin up to 14.5% from 12.8% in the half.
Rolls-Royce Holdings, up 4.5%. On Friday, the Financial Times reported that San Francisco-based activist hedge fund ValueAct has become the aerospace and engineering group's largest shareholder in a move likely to increase the pressure on the company to improve its performance and accelerate cost-cutting measures. Rolls-Royce has issued a series of profit warnings in the past year thanks to slowdown on key engine programmes and weakness in defence budgets.
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FTSE 100 - LOSERS
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Anglo American, down 2.6%, Glencore, down 2.5%, BHP Billiton, down 2.2%, Rio Tinto, down 1.9%, Fresnillo, down 1.2%. Miners were trading lower on the back of weak commodity prices and an intensified downturn in the Chinese manufacturing sector, which was reported to have contracted the most since 2013.
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FTSE 250 - WINNERS
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Ultra Electronics, up 0.4%. The defence company posted a big fall in pretax profit for the first half of the year, hit by a writedown due to the loss of its contract in Oman and by continued subdued activity in the US and UK defence markets. But despite the loss, the company said its results were in line with its expectations and it said its second half is set to be in line with its guidance.
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FTSE 250 - LOSERS
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Fidessa Group, down 9.8%. the trading, investment and information company said the additional investment it is making in new opportunities is having a "small impact" on its operating margin, and said there may be greater pressure arising going into 2016 from potential consolidation activity amongst its customers.
Home Retail Group, down 4%. The owner of Argos and Homebase was downgraded to Hold from Buy by Deutsche Bank due to a combination of low margins and wage pressures, along with competitive pressures the company faces in the electricals business.
Acacia Mining, down 3.9%, Kaz Minerals, down 3.6%, Lonmin, down 3.2%, Vedanta Resources, down 3%. In line with the blue-chip miners, all are down on declining commodity prices and Chinese manufacturing contraction.
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AIM ALL-SHARE - WINNERS
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Zamano, up 19% at 11.60 pence per share. The Irish mobile payments and marketing company said it has received an approach about a possible takeover. In a short statement, Zamano said it has received a "preliminary and highly conditional approach regarding a possible takeover offer" for EUR0.20 per share.
Sunrise Resources, up 11%. The miner said the US Bureau of Land Management has given the company the required consent to start drilling at the Bay State silver project in Nevada. The programme approved will comprise access-track upgrading and the construction of up to 16 drill pads at the site.
Herencia Resources, up 11%. The miner said it has signed a memorandum of understanding with the Errazuriz Group of Chile about a possible merger of assets. Herencia said it and Errazuriz have signed an agreement to explore the possible merger of Herencia's Picachos copper assets in Chile with Errazuriz's Tambillos copper mine in order to create a gold-silver joint venture company.
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AIM ALL-SHARE - LOSERS
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Fox Marble Holdings, down 18%. The marble quarrying and finishing company said a fire has destroyed equipment that was meant to be shipped to it by Prometec, which will result in a further delay to the start of operations while the company sources alternative machines. The company said that though the direct financial loss it will face is minimal, its revenue for the full year will take a hit.
Ormonde Mining, down 12%. The company reported the unexpected death of Managing Director Kerr Anderson. Ormonde did not say how Anderson died. Steve Nicol, executive director and chief operating officer of the company, will become acting managing director on an interim basis.
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By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
22 Apr 2024 17:51
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