Petrel Resources Share News (PET)

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Monday.----------FTSE 100 - WINNERS----------Vodafone, up 1.0%. The Financial Times reported the telecommunications company's incoming chief executive officer, Nick Read, is considering the sale of thousands of mobile masts to reduce the telecommunications firm's EUR31 billion debt pile. Read, who is scheduled to take over the FTSE 100-listed group from Vittorio Colao next month, announced his debt reduction plans at a Goldman Sachs conference in New York on Thursday last week. Vodafone has 110,000 towers across Europe, half of which are directly controlled, and Barclays has calculated that the towers are worth EUR12 billion, according to the newspaper. At the conference, Read said the Vodafone would also cut 1,700 jobs in shared service centres in Egypt, India and Romania this year as part of a EUR8 billion cost reduction plan.----------Compass Group, up 0.4%. Bernstein initiated the contract caterer with an Outperform rating.----------FTSE 250 - WINNERS----------Sirius Minerals, up 3.7%. The miner said it has signed its largest supply agreement for up to 2.5 million tonnes per annum of POLY4 fertilizer. Units York Potash and OFD Supply have signed a take-or-pay supply agreement with Cibrafertil Companhia Brasileira de Fertilizantes, or Cibra Group, for the supply and resale of POLY4, a fertilizer ingredient, into Brazil and some other South American countries. Sirius Minerals also has agreed to acquire a 30% equity interest in each of the Cibra Group companies for a total of 95 million ordinary shares of Sirius, representing about a 2% stake. ----------Tullow Oil, up 2.0%. Canaccord raised the oil exploration and production company to Buy from Hold.----------Dairy Crest, up 1.9%. The dairy products producer said it expects first-half revenue to be ahead of last year driven by "strong performances" in its two largest brands - Cathedral City and Clover. For the six months ending September 30, the company said it expects cheese brand Cathedral City to deliver "good growth against strong volumes a year ago". Spreads brand Clover also is expected to deliver volume and revenue growth. Furthermore, Dairy Crest said it expects first-half profit to be "slightly ahead of the same period last year", as it confirmed its full-year outlook. The company said that in the next few months it will release further products from Cathedral City, including a lactose free range. ----------FTSE 250 - LOSERS----------Sophos, down 6.5%. Deutsche Bank cut its rating on the security software firm to Hold from Buy.----------Hays, down 1.9%. HSBC downgraded its recommendation on the recruitment firm to Hold from Buy.----------OTHER MAIN MARKET AND AIM - WINNERS----------Clontarf Energy, shares nearly tripling to 0.5625 pence and Petrel Resources, up 49%. Shares in Clontarf closed at 0.20 pence on Friday. The companies said they have resolved legacy issues with the Ghana National Petroleum Corp regarding a contract for the development of the Tano 2A Block. The legacy issues at the Tano 2A go back about 10 years and involve co-ordinates of an area covered by a petroleum agreement that was not approved by the Ghanaian cabinet or parliament. As a result of the resolution, all legal proceedings have been withdrawn, and the companies expect the petroleum agreement to be sent to cabinet for review. Petrel owns a 30% stake in Pan Andean Resources (Ghana), the company which holds the Tano 2A Block, while Clontarf has a 60% interest.----------MJ Gleeson, up 1.6%. The housebuilder reported a double-digit rise in both profit and revenue for its recently-ended financial year, boosted its dividend by a third. For the year to the end of June, the urban regeneration specialist reported pretax profit of GBP37.0 million, up 12% from GBP33.0 million the year before, on revenue that rose by 23% to GBP196.7 million from GBP160.4 million. Gleeson said it will pay a final dividend of 23.0 pence per share, up from 17.5p a year before, resulting in a total payout of 32.0p, up 33% from 24.0p the prior year.----------OTHER MAIN MARKET AND AIM - LOSERS----------Infrastructure India, down 31%. The infrastructure fund said it has decided to abandon the sale of unit Indian Energy due to an unduly protracted process and attempts by ReNew Power Services to seek to amend the disposal terms and, as a result, some sale conditions had not being met by the long stop date. The fund in April entered into a binding conditional share purchase agreement to sell a 100% interest in unit Indian Energy to ReNew for around GBP4 million. Indian Energy owns and operates wind farms, with 41.3 megawatt installed capacity, at two sites in the Indian states of Karnataka and Tamil Nadu.----------Premier African Minerals, down 27%. The mining company said it said it has not been able to reach final terms with Cadence Minerals to fund the definitive feasibility study of the Zulu lithium and tantalum project. In late June, Premier African and Cadence had entered heads of terms to earn up to 30% directly into the project. Cadence had completed its due diligence, but was unable to reach final terms. "Cadence is continuing to review several upstream mineral assets, where we see the potential to deliver shareholder value by investing in projects that have a short development timeline to cashflow," Cadence said in a statement. Cadence shares were down 6.9%.----------