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WINNERS & LOSERS SUMMARY: CityFibre Soars After Agreeing Takeover

Tue, 24th Apr 2018 11:09

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Tuesday.----------FTSE 100 - WINNERS----------BP, up 1.8%. Goldman Sachs upgraded the oil major to Buy from Neutral. In addition oil stocks were tracking oil prices higher, with Brent hitting its highest level since late 2014 of USD75.25 a barrel in early trade. Peer Royal Dutch Shell 'A' and Shell 'B' shares were up 0.6% and 0.7% respectively. BAE Systems, up 2.2%. The defence giant was raised to Buy from Hold by Berenberg. The German bank expects BAE's future prospects to improve BHP Billiton, up 1.7%. The Anglo-Australian miner said late on Monday a court in Brazil has granted a 66-day extension for discussions over a settlement for the Samarco dam failure. BHP, a constituent of both the FTSE 100 and Top 40 indices in London and Johannesburg respectively, is talking to federal prosecutors from Brazil's 12th Federal Court alongside Samarco Mineracao and Vale. During this 66 day period, BHP said, the suspension of legal proceedings will remain. It follows a 150 day extension granted for the same reason in late November last year. Discussions began between BHP and Vale in January 2017, outlining a preliminary agreement of settlement worth BRL155.0 billion, or USD45.45 billion, for public civil claims and a further BRL20.0 billion for civil claims. ----------FTSE 100 - LOSERS----------Paddy Power Betfair, down 4.0%. The bookmaker's shares were lower following a report in the Times newspaper overnight saying move to cut the maximum stake on highly addictive gambling machines to 200 pence is set to be announced within weeks as the Treasury indicated in a deal Monday. "This would be even more onerous than the UK Gambling Commission's 19 Mar recommendations of a GBP2.00 slots stake limit, a 'GBP30 or lower' non-slot limit, along with player tracking and limits on both games per session and player," said Mike Van Dulken, head of research at Accendo Markets said. Midcap bookmakers William Hill was down 15% and GVC Holdings was down 7.0%. Anglo American, down 1.2%. The miner reported an increase in production for the first quarter of 2018, despite disruption at the Minas-Rio iron ore mine in Brazil, which is expected to hit earnings for the year. Total production for the three months to March was up 4% on a copper equivalent basis, Anglo American said. Iron ore production at Minas-Rio fell 30% year-on-year to 3.0 million tonnes, due to a planned move into harder ore as well as the suspension of operations from March 12 due to leaks in the pipeline. As a result of the leak, no more production is expected for 2018. Anglo American said as a result, it is expecting a reduction of between USD300.0 million to USD400.0 million in earnings before interest, tax, depreciation, and amortisation. ----------FTSE 250 - WINNERS----------QinetiQ Group, up 5.5%. The defence outsourcer said it agreed to buy German-based aerial training provider EIS Aircraft Operations, currently part of EIS Aircraft Group, for EUR70.0 million on a cash-free and debt-free basis. The company said EIS Aircraft Operations generated revenue of EUR20.1 million for 2017 and earnings before interest, taxes, depreciation, and amortization of EUR5.4 million. QinetiQ said it expects to complete the transaction during the first half of its 2019 financial year, following regulatory and legal approvals. Upon completion, Aircraft Operations will be integrated into QinetiQ's Europe, the Middle East and Africa Services Division as well as led by its existing management team. The company said it will fund the purchase through its available cash resources.----------FTSE 250 - LOSERS----------Card Factory, down 4.7%, Superdry down 5.0%. Liberum downgraded the greeting cards retailer and the fashion retailer to Hold from Buy. Victrex down 3.8%. Berenberg cut the specialty chemicals firm to Hold from Buy. ----------OTHER MAIN MARKET AND AIM - WINNERS----------CityFibre Holdings, up 89% at 79.24p. Shares in the fibre optic infrastructure company rose after it agreed a GBP537.8 million all-cash takeover offer from a infrastructure investment consortium. CityFibre agreed to a 81.0 pence per share offer from Connect Infrastructure Bidco. Connect is a newly-formed company jointly-owned by Antin Infrastructure Partners UK and West Street Global Infrastructure Partners III. The offer price represents a 93% premium to the share price at the close on Monday. CityFibre listed at 60p per share in January 2014, valuing it at the time at GBP31.4 million. In 2017, CityFibre saw its pretax loss widen to GBP16.6 million from GBP12.6 million the year prior. This was despite revenue rising to GBP34.8 million from GBP15.4 million the year before.----------
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30 Dec 2021 09:28

UPDATE 2-FTSE 100 edges down as COVID fears dull festive cheer

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* Industrial stocks eye best performance in 23 years* Travel and leisure hit by Omicron fears* Ashtead the top YTD performer on FTSE 100* UK ...

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30 Dec 2021 05:33

UPDATE 5-Oil prices rise slightly ahead of OPEC+ meeting next week

* U.S. crude, fuel stocks fell last week; output rises -EIA* Saudi king says OPEC+ pact 'essential' for oil market stability (New throughout, updates prices, market activity and comments to settlement, adds OPEC+ meeting details and PSM details)By...

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28 Dec 2021 09:41

S.African court halts Shell's offshore seismic survey

CAPE TOWN, Dec 28 (Reuters) - A South African high court on Tuesday blocked Shell from conducting seismic testing offshore from South Africa's pristine Wild Coast, in the latest ruling in a case seeking to prevent the oil major from exploring for...

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27 Dec 2021 14:01

Mexican president says Pemex to close Deer Park deal in January

MEXICO CITY, Dec 27 (Reuters) - Mexican state oil company Petroleos Mexicanos (Pemex) will complete its purchase of a controlling interest in a Texas oil refinery in January, Mexican President Andres Manuel Lopez Obrador said on Monday.Mexico's go...

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24 Dec 2021 10:03

UPDATE 1-Russia says Europe missing out on gas with Nord Stream 2 delay

(Recasts, adds quote, background)MOSCOW, Dec 24 (Reuters) - Europe, struggling with soaring gas prices, is missing out on additional Russian supplies amid delays to the Nord Stream 2 pipeline, a top Russian official signalled on Friday.Deputy Prim...

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24 Dec 2021 08:26

Russia's Novak: Nord Stream 2 hindered by politics

MOSCOW, Dec 24 (Reuters) - The launch of the Nord Stream 2 natural gas pipeline is being hindered by politics, but Russia still hopes its certification will be completed by mid-2022, Russian Deputy Prime Minister Alexander Novak said on Friday.The...

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24 Dec 2021 08:19

Russia says Nord Stream 2 a bargaining chip for U.S., EU, Interfax reports

MOSCOW, Dec 24 (Reuters) - The Nord Stream 2 gas pipeline project linking Russia with Europe has become a bargaining chip in a game played by the United States and the European Union, Russian Deputy Foreign Minister Sergei Ryabkov said on Friday, ...

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23 Dec 2021 14:14

Third Point's Loeb slams activists after UK fund chairman quits

LONDON, Dec 23 (Reuters) - Hedge fund Third Point's boss Dan Loeb on Thursday blamed the departure of the chairman of the firm's London-listed fund on "inexperienced" and "juvenile antics" of activist investors.Third Point Investors Limited (TPIL)...

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22 Dec 2021 20:56

Shell declares force majeure on Nigerian Forcados crude

LAGOS, Dec 22 (Reuters) - Royal Dutch Shell's Nigerian subsidiary SPDC has declared force majeure on exports of Nigerian Forcados crude oil after the obstruction of a tanker path by a malfunctioning barge, the company said in a statement.The actio...

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22 Dec 2021 13:49

UPDATE 3-Mexico says U.S. approves Deer Park refinery deal, sees completion early 2022

(Adds details)MEXICO CITY, Dec 22 (Reuters) - The U.S. government has authorized the purchase by Petroleos Mexicanos (Pemex) of Royal Dutch Shell's controlling interest in a Texas oil refinery in a transaction that should conclude early next year,...

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22 Dec 2021 13:49

UPDATE 2-Mexico says U.S. government approves Deer Park refinery deal

(Adds context, comment from Pemex CEO)MEXICO CITY, Dec 22 (Reuters) - The U.S. government has authorized the purchase by Petroleos Mexicanos (Pemex) of Royal Dutch Shell's controlling interest in a Texas oil refinery, Mexican President Andres Manu...

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22 Dec 2021 13:49

UPDATE 1-Mexico says U.S. government approves Deer Park refinery deal

(Adds details)MEXICO CITY, Dec 22 (Reuters) - The U.S. government has authorized the purchase by Petroleos Mexicanos (Pemex) of Royal Dutch Shell's controlling interest in a Texas oil refinery, Mexican President Andres Manuel Lopez Obrador said on...

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22 Dec 2021 13:15

Mexico says U.S. government approves Deer Park refinery deal

MEXICO CITY, Dec 22 (Reuters) - The U.S. government has authorized the purchase by Petroleos Mexicanos (Pemex) of Royal Dutch Shell's controlling interest in a Texas oil refinery, Mexican President Andres Manuel Lopez Obrador said on Wednesday.Lo...

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21 Dec 2021 19:06

UPDATE 1-Texas lawsuit by laundromat owners seeks to block Shell refinery sale to Pemex

(Adds U.S. Treasury, CFIUS decline to comment)By Stefanie Eschenbacher and Gary McWilliamsMEXICO CITY/HOUSTON, Dec 21 (Reuters) - A pair of New York businessmen filed a lawsuit in a U.S. court seeking to block Mexico's state oil company Petroleos M...

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21 Dec 2021 18:32

Texas lawsuit by laundromat owners seeks to block Shell refinery sale to Pemex

By Stefanie EschenbacherMEXICO CITY/HOUSTON, Dec 21 (Reuters) - A pair of New York businessmen filed a lawsuit in a U.S. court seeking to block Mexico's state oil company Petroleos Mexicanos (Pemex) from taking control of a Texas refinery, claimin...

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