PPC.L Share News (PPC)

(Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Wednesday.----------FTSE 100 - WINNERS----------BP, up 2.2%. After the London market close on Tuesday, the oil and gas company said it has agreed to sell all of its Alaskan operations to Hilcorp Alaska for USD5.6 billion. The sale will include BP's entire upstream and midstream business in the state, including BP Exploration (Alaska), which owns all of BP's upstream oil and gas interests in the region, and BP Pipelines (Alaska)'s interest in the Trans Alaska Pipeline System. Hilcorp Alaska is an affiliate of Houston-headquartered Hilcorp Energy. Of the USD5.6 billion consideration, USD4.0 billion is payable "near-term" and USD1.6 billion through an earnout thereafter. Subject to state and federal regulatory approval, the sale is expected to complete in 2020. Analysts said they expect to see a dividend increase from BP as a result.----------AstraZeneca, up 1.1%. The drugmaker posted positive results from its phase three trial of Breztri Aerosphere and said Fasenra has been granted orphan drug designation in the US. The phase 3 trial of Breztri Aerosphere in COPD met its primary endpoint, demonstrating "a statistically-significant reduction in the rate of moderate or severe exacerbations" when compared to the dual-combination therapies Bevespi Aerosphere and PT009. Breztri Aerosphere is a combination of budesonide, glycopyrronium, and formoterol fumarate. The study found a statistically significant reduction in the rate of severe to moderate exacerbations both at the standard budesonide dose and at a half dose of budesonide versus dual-combination therapies. In addition, Astra announced that the US Food & Drug Administration has granted Fasenra orphan drug designation as a treatment for eosinophilic oesophagitis.----------FTSE 250 - WINNERS----------Greggs, up 3.6%. UBS raised the vegan sausage roll maker to Buy from Neutral. ----------Diploma, up 2.0%. The technical products and services firm said it is trading in line with expectations and forecasts double-digit full-year revenue growth. For the financial year ending September 30, the company expects a rise in revenue of 13% to GBP548.2 million from GBP485.1 million reported in financial 2018. Revenue is expected to grow 5% on an underlying basis, while currency exchange and recent acquisitions are forecast to improve revenue by 2% and 6% respectively. Chief Executive Johnny Thomson said: "Diploma continues to have a good year. We are on track to deliver strong underlying growth with positive contributions from acquisitions and modest margin progression."----------FTSE 250 - LOSERS----------James Fisher & Sons, down 2.5%. The marine services provider warned that its Marine Support unit had a slower start to the year due to a weak market in South Africa and provisions for contracts and doubtful debt. The company recorded a decline in pretax profit for the six months to the end of June to GBP20.9 million from GBP21.5 million a year earlier. Revenue meanwhile increased by 10% to GBP260.5 million, thanks to a strong performance from the Offshore Oil and Tankships divisions. At constant currency and excluding acquisitions, revenue grew by 4%. "The phasing of projects has made the year more weighted to the second half, which will also begin to benefit from the investment committed to in the first half. The group remains well placed to deliver an improved financial performance in the year and to continue to provide future value to its shareholders," said Chief Executive Nick Henry.----------OTHER MAIN MARKET AND AIM - WINNERS----------Wey Education, up 14%. The online school & sixth form college operator said revenue will exceed market expectations for its current financial year due to strong trading. Revenue for the firm's year, which will end on Saturday, is set to be more than GBP6.0 million, which would be 43% ahead of its GBP4.2 million revenue the year before, and "well ahead of market expectations". Wey said the higher revenue has allowed it to raise marketing spend in order to meet its financial 2020 revenue expectations. Adjusted profit for the current financial 2019 year will be in line with market expectations, it said.----------OTHER MAIN MARKET AND AIM - LOSERS----------OptiBiotix, down 30%. The life sciences firm reported a widened in loss in the first half of its financial year, as the company said it continues its transition from a research & development firm into a commercial business. In the six months that ended May 31, OptiBiotix's pretax loss widened to GBP1.3 million from GBP1.2 million the year before. Revenue remained insignificant, though it almost doubled to GBP148,818 from GBP80,560. The majority of the company's revenue in the half was generated from LP-LDL with GoFigure online and export sales contributing the rest. SlimBiome revenue contributed "very little". OptiBiotix said its administrative expenses were flat year on year at GBP1.0 million. Looking forward, OptiBiotix said it expects revenue to grow further in its financial second half, as a "large corporate partner" launches products in the first quarter of 2020.----------President Energy, down 16%. The oil and gas company will shift focus from oil sales to gas sales in a move to retain profitability in Argentina following the local government's recent attempt to control fuel prices in the country. The Argentinian government has issued a 90 day decree to limit fuel prices for customers. "The Decree fixed, solely for oil producers, the base values for the peso/dollar exchange rate and the reference price of Brent used in the calculation of the oil price receivable," explained President Energy. As a result, the company has decided to defer its drilling campaign scheduled for this year and instead expand its existing gas projects. President said the decree does not affect gas prices. President has re-scheduled its well drilling campaign for the first quarter of 2020, with an emphasis on new gas wells.----------Thomas Cook Group, down 15%. The holiday operator agreed a "significant" new capital investment with its largest shareholder Fosun Tourism Group, core lending banks, and a majority of 2022 and 2023 senior noteholders. Thomas Cook's shareholders will be "significantly diluted" by this funding plans, which involve the conversion of debt to equity. The holiday operator said Fosun will contribute GBP450 million of new money to the company and will buy at least 75% of the equity of its Tour Operator unit, plus 25% of its Airline operations. Thomas Cook said its current intention is to maintain the company's London listing but the proposed recapitalisation could result in Thomas Cook cancelling its listing. The company also stressed the recapitalisation remains subject to a number of factors, including credit and investment approvals and the allocation of risk between Fosun and the company's creditors. ----------