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WINNERS & LOSERS SUMMARY: Ocado Expects Hit To Sales Growth After Fire

Wed, 06th Feb 2019 10:39

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Wednesday.----------FTSE 100 - WINNERS----------Barratt Developments, up 3.5%. The housebuilder said it has further extended its capital return plan to 2020, amid profit and revenue growth for the first half of its financial year. For the six months to the end of December, total completions rose by 4.1% to 7,622 units from 7,324 units a year before, while the average selling price edged upwards to GBP282,000 from GBP281,000. Pretax profit for the period rose by 19% to GBP408.0 million from GBP342.7 million a year prior, while revenue grew by 7.2% to GBP2.13 billion from GBP1.99 billion. Barratt declared an interim dividend of 9.6 pence per share, up from 8.6p a year before, which the company said represents one-third of the expected ordinary dividend for the year, meaning this should come in around 28.80p. Peers Berkeley Group, Persimmon and Taylor Wimpey were up 1.3%, 1.2% and 0.7% respectively. ----------Vodafone Group, up 1.7%. Merrill Lynch raised the telecommunications company to Buy from Neutral.----------Paddy Power Betfair, up 1.3%. The bookmaker was upgraded to Hold from Reduce by HSBC. ----------FTSE 100 - LOSERS----------Ocado Group, down 6.5%. The online grocer said its warehouse in Andover has been "substantially" damaged after a fire continued to burn overnight. On Tuesday afternoon, Ocado said a fire had broken out at the customer fulfilment centre in Andover, Hampshire, damaging some equipment. However, the company said the fire "was not contained as we believed", and expanded overnight. The fire is now under control, Ocado said, but part of the building's roof has now collapsed and there has been significant damage to the building. As such, Ocado said it expects a fall in sales growth until it can shift operations to other warehouses. News of the fire Tuesday came the same day Ocado reported annual results, in which it posted a much wider loss than the market had expected, due to the costs of fulfilment centres such as the one in Andover. "The warehouse accounts for 10% of Ocado capacity, and thus we are likely talking about a substantial disruption to profitability in both lost business and rebuild cost," said IG Group's Josh Mahony. Peel Hunt cut the stock to Hold from Buy following Wednesday's news of the fire.----------Centrica, down 3.0%. The British Gas parent was double downgraded to Underperform from Outperform by RBC. The Canadian bank was concerned by a lack of visible growth, and believes Centrica is likely to cut its dividend in the near future.----------FTSE 250 - WINNERS----------CYBG, up 14%. The lender said it had a solid first quarter, while its full-year net interest margin should be at the top end of expectations. For the first quarter ended December, CYBG's net interest margin was 172 basis points. For its year ending September, the bank expects its net interest margin to be between 165 and 170 basis points. This would be down year-on-year, as expected due to pricing pressure in the UK mortgage sphere, but towards the top end of prior guidance. For the financial year ended September 30, 2018, CYBG's net interest margin was 2.17%. CYBG's first quarter lending grew 1.4% year-on-year to GBP71.9 billion. Mortgage growth was 1.5% to GBP60.0 billion and small and medium enterprise lending by 1.2% to GBP7.6 billion. The company's integration plan of peer Virgin Money is going well, it said, and CYBG now expects at least GBP150 million of annual savings by the end of its financial year ending September 2021, from GBP120 million previously guided. ----------Electrocomponents, up 5.0%. The electrical parts maker said it is making good progress on its improvement plan, as revenue grew in the four months to the end of January. The company registered like-for-like revenue growth of 6% on the prior year for the period. Electrocomponents also noted all three regions, Europe, the Middle East & Africa, and the Americas & Asia Pacific saw positive revenue trends. Looking ahead, the company continues to expect a stable gross margin in its base business, which excludes acquisitions, for the full year to the end of March. Electrocomponents "remains focused" on initiatives to simplify and scale its business and to generate further efficiency. The company is also on track to deliver GBP4 million of savings in its current financial year, with cumulative annualised savings of GBP12 million by March 2021.----------Just Group, up 2.7%. The retirement products and services provider reported a strong increase in three performance metrics in 2018, though one did fall. Retirement income sales for 2018 increased 15% on 2017, to GBP2.17 billion, driven by "the continued growth in defined benefit de-risking sales". Just Group's defined benefit sales climbed 32% to GBP1.31 billion in a strong market. Just Group said it could be more selective towards the end of the year after record volumes earlier on, and it expects 2019 to be another strong year in this sphere. The company's lifetime mortgage advances increased 18% on the year to GBP602 million, in line with retirement income sales. Guaranteed income for life sales fell, however, by 4% to GBP786 million in 2018. Volumes slowed in the last quarter after price increases due to new regulation. ----------FTSE 250 - LOSERS----------Victrex, down 1.0%. The speciality chemicals company said its performance in the first quarter of its current financial year was weaker than anticipated with a double-digit fall in revenue and sales volumes. Victrex said its revenue in the three months to the end of December 2018 declined 18% to GBP64.1 million compared to GBP78.7 million the year prior. Sales volumes in the first quarter also declined, down 22% on the prior year at 822 tonnes. Excluding volumes from a large consumer electronics contract, core business volumes were down 13% during the period.----------OTHER MAIN MARKET AND AIM - WINNERS----------Interserve, up 11%. The outsourcer said it has agreed in principle all commercial terms for its debt-for-equity swap with lenders, bonding providers, and its pension trustee. Net debt will reduce to around GBP275 million through the issue of around GBP480 million of new equity. This will account for 98% of Interserve's share capital, it said, and all proceeds will be used to repay senior debt. The plan will see RMDK Kwikform remain with Interserve, with GBP350 million of existing debt allocated to that construction and engineering subsidiary. Of that, GBP169 million will be cash-pay and the rest into a subordinated non-cash pay debt instrument. The debt will have its maturities extended to 2023. ----------OTHER MAIN MARKET AND AIM - LOSERS----------WH Ireland, down 9.8%. The stockbroker said it remains optimistic for the future despite challenging market conditions, as it appointed Head of Finance Philip Tansey as finance director. WH Ireland said the board changes reflect new Chief Executive Phillip Wale's intention of putting in place a leadership team to position the company for future growth. WH Ireland said challenging market conditions continue to affect both of its divisions, Corporate & Institutional Broking and Wealth Management. In addition, exceptional costs for the financial year to the end of March are anticipated to be higher than originally expected, the company said, following a number of significant one off expenses as WH Ireland continues with its transformation strategy. However, despite these challenges, the company said it has a strong pipeline of new business and remains optimistic for the future.----------

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LONDON MARKET CLOSE: Gambling Stocks Slip; May Gives Brexit Statement

LONDON (Alliance News) - Stocks in London ended lower on Monday with gambling companies among the worst blue chip performers, while UK Prime Minister Theresa May delivers her Brexit statement to the

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22 Oct 2018 11:59

LONDON MARKET MIDDAY: FTSE 100 Led Higher By NMC, Airlines And Miners

LONDON (Alliance News) - The FTSE 100 went from strength to strength on Monday, gains accelerating as the morning session progressed, having started well following strong trading in Asia was the top

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22 Oct 2018 10:47

WINNERS & LOSERS SUMMARY: NMC Health Rises After Upping Guidance

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Monday.----------FTSE 100 - WINNERS----------NMC up 4.8%. a

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22 Oct 2018 08:38

LONDON MARKET OPEN: Buoyant China Boosts Miners And Lifts FTSE 100

LONDON (Alliance News) - Following a bumper session for equities in China on Monday, stock prices in London started the week in the green, with NMC Health and miners among the risers.The FTSE 100 was

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22 Oct 2018 08:06

Budget 2018: UK's Hammond plans to raise offshore gambling tax - report

(Sharecast News) - UK finance minister Philip Hammond is set to increase tax paid by offshore gambling companies in his Budget later this month, the Financial Times reported citing government aides.

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16 Oct 2018 09:01

Paddy Power fined £2.2m for money laundering, social responsibility failures

(Sharecast News) - Paddy Power Betfair has been fined £2.2m by the Gambling Commission for failing to protect customers with signs of problem gambling and for failing to stop stolen money being gambled.

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12 Oct 2018 11:38

Berenberg upgrades Paddy Power to 'hold', sees US concerns as being 'premature'

(Sharecast News) - Analysts at Berenberg upgraded bookmaker Paddy Power to 'hold' on Friday, noting that it believes recent scepticism surrounding the newly opened-up US sports betting market had been "premature".

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12 Oct 2018 08:48

LONDON MARKET OPEN: FTSE 100 Moves Off Six-Month Low After Sell Off

LONDON (Alliance News) - Stocks in London opened higher on Friday, with the FTSE 100 rebounding from six-month lows, following a sell off in global equities which has dominated the week's FTSE up

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10 Oct 2018 12:02

LONDON MARKET MIDDAY: Pound Steady After UK's Flat GDP Growth Reading

LONDON (Alliance News) - While off some of Wednesday's earlier lows, stocks in London remained listless at midday."There are a number of worries for investors right now, from the pace of and

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9 Oct 2018 16:59

LONDON MARKET CLOSE: Stocks Mixed As Italy Crisis And US Yields Weigh

LONDON (Alliance News) - Stocks in London ended mixed on Tuesday, although the FTSE 100 managed to move off six-month lows, as fears over the Italian debt crisis and rising US bond yields continued a

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13 Aug 2018 17:05

LONDON MARKET CLOSE: Lira Sees Stocks Exposed To Emerging Markets Fall

LONDON (Alliance News) - Worries over a crisis in Turkey with the lira slumping to record lows saw stocks in London end in the red on Monday, though easing off their worst lows of the appears that by

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13 Aug 2018 16:00

City downgrades Paddy Power Betfair after cutting earnings forecasts

(Sharecast News) - Citigroup cut its estimates for Paddy Power Betfair's future earnings due declining revenues from the exchange business and start-up costs from its burgeoning US business, among other factors.

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13 Aug 2018 12:02

LONDON MARKET MIDDAY: Mondi, Mediclinic, Ashmore Suffer From Lira Woes

LONDON (Alliance News) - Stocks in London slumped at the start of the week, with emerging markets-exposed shares the hardest hit following a tumble in the Turkish lira.Shares in companies such as at

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13 Aug 2018 10:31

WINNERS & LOSERS SUMMARY: Chemring Says Fatal Accident To Hurt Profit

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13 Aug 2018 08:47

LONDON MARKET OPEN: Stocks Open Lower As Turkish Meltdown Fears Mount

LONDON (Alliance News) - Stocks in London opened lower on Monday as investors fretted about trade tariffs and the plunging Turkish lira, which touched a new record low in early trade. The FTSE 100 or

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