LONDON (Alliance News) - The following stocks are amongst the biggest risers and fallers within the main London indices midday Tuesday.
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FTSE 100 WINNERS
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Glencore, up 3.7%, Anglo American, up 3.5%, and Antofagasta, up 1.5%. The miners are trading higher following a better-than-expected GDP reading from China. The country's economy grew 7.3% in the fourth quarter from a year ago, the same rate as in the third quarter and marginally ahead of the 7.2% rise forecast by economists.
Fresnillo, up 3.2%, and Randgold Resources, up 2.2%. The gold miners are both up following an increase in the price of gold. The yellow metal currently trades at USD1,288.97 an ounce, a 1.1% rise on the day.
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FTSE 100 LOSERS
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Admiral Group, down 2.4%, and Direct Line Insurance Group, down 0.6%. The motor insurers are down following a report from the AA saying UK car insurance premiums rose at a slower rate over the final three months of last year than in the previous quarter, though further increases are expected as insurers continue to raise premiums. The AA British Insurance Premium Index's average 'shoparound' quote for an annual comprehensive car insurance policy increased to GBP540.26 in the fourth quarter of 2014, up 0.2% from the third quarter.
Unilever, down 1.1%. The Anglo-Dutch consumer goods giant reported a higher 2014 profit as it managed to offset a currency hit with price rises and cost cutting, but its shares fell as its fourth quarter sales growth missed analysts' expectations and it gave a cautious outlook for 2015. Unilever reported underlying sales growth of 2.1% for the fourth quarter of the year, short of analyst expectations for 2.7% growth, as it was hit by slowing growth in emerging markets, particularly China. Unilever also said it expects similar market conditions and competitive pressure in 2015.
Capita, down 0.7%. The outsourcing and support company is trading lower even though it said it had won a six-year contract extension with Sheffield City Council that it thinks is worth between GBP140 million and GBP170 million in revenue.
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FTSE 250 WINNERS
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3I Infrastructure, up 4.3%. The company said it will sell its entire stake in UK train leasing company Eversholt Rail Group to a Hong Kong-based infrastructure company, generating estimated proceeds of about GBP358 million. Eversholt is one of three train rolling stock leasing companies in the UK, and it owns about 28% of the current UK passenger train fleet. The leasing companies lease the stock to the train operating companies, and Eversholt leases to 11 of those operators.
Petrofac, up 4.3%. The oil services company said it has been awarded a contract for the first phase of Kuwait Oil Co's Lower Far heavy oil development programme in the north of Kuwait as part of a consortium with Greece-based Consolidated Contractors Co. Petrofac said the scope of work the consortium will complete includes greenfield and brownfield facilities, including engineering, procurement, construction, pre-commissioning, commissioning, start up and operations, maintenance work and associated infrastructure work.
IG Group Holdings, up 3.7%. The financial spread betting firm reported a 2.8% rise in first-half pretax profit, and although it expects full-year earnings will be hurt by losses stemming from the Swiss National Bank's surprise decision to remove its cap on the franc against the euro, IG intends to maintain its full-year dividend at last year's level.
Fidelity European Values, up 2.7%. The Europe-focused investment trust trades higher following a better than expected ZEW surveys from Europe and Germany.
TSB Banking Group, up 2.2%. Investec has upgraded the bank to Buy from Hold after the company said its mortgages are now available through brokers across Britain.
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FTSE 250 LOSERS
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William Hill, down 3.5%. The betting operator said revenue and adjusted operating profit fell in the fourth quarter of 2014 as football results went against it over the Christmas holidays, and it suffered a similar fate in the third week of 2015 although it said it has started the new year in a strong position.
Esure Group, down 2.4%. The insurer is down following the AA report.
Afren, down 1.1%. The oil and gas company trades lower after New Horizon Oil and Gas Ltd, which trades as T5 Oil and Gas, refuted reports that it is considering making a bid for Afren.
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AIM ALL-SHARE WINNERS
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Serabi Gold, up 18%. The company said its gold production in 2014 fell short of the its full year target, but said the shortfall will be quickly recovered during 2015. Total gold production during 2014 totalled 18,452 ounces of gold, significantly below the company's guidance of 23,000 to 24,000 ounces. Serabi failed to hit its target after about 4,000 ounces worth of flotation tailings were unable to be processed whilst the carbon in pulp plant was being built and commissioned.
CDialogues, up 13%. The mobile marketing company said its 2014 trading was in line with market expectations, sending its shares higher in early trade. CDialogues said it maintained the momentum reported in the first half in the second half and expects its revenue for the year to December 31 to more than double to EUR9.5 million.
Rangers International Football Club, up 11%. The company said Sandy Easdale has increased his stake in the club, as it prepares for a potential shareholder vote on a proposed overhaul of its board.
Corac Group, up 10%. The specialist engineer said its trading during 2014 will be ahead of expectations, after a strong performance across the business. The company said it expects its results for the year to December 31 to come in ahead of its expectations, with a narrowed loss, an improved cash position and a robust order book at year-end.
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AIM ALL-SHARE LOSERS
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Xtract Resources, off 39%. The company said it now expects its Chepica Gold and Copper mine in Chile to be cash flow positive in February, later than expected due to disruptions at the mine, and it is negotiating to defer some creditor payments until the end of March.
Azonto Petroleum, down 16%. The Australia-focused explorer and producer said that after carrying out a "fit for purpose review" of the company's operating structure and costs, Managing Director Rob Shepherd and Finance Director Andrew Rose have resigned and will leave the company in three months time.
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By Neil Thakrar; neilthakrar@alliancenews.com
Copyright 2015 Alliance News Limited. All Rights Reserved.
2 Apr 2015 13:12
