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WINNERS & LOSERS SUMMARY: Kier Falls On Housebuilding Unit Sale Report

Fri, 14th Jun 2019 10:49

(Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Friday.----------FTSE 100 - WINNERS----------Fresnillo, up 3.0%. The Mexican gold miner was tracking spot gold prices higher quoted at USD1,354.70 an ounce, up from USD1,336.70 late Thursday. Midcap peers Centamin and Hocshchild Mining were up 3.7% and 2.6% respectively. "Gold has blast past the level of USD1,350 and it is likely that traders are going to target the next resistance of USD1,370. The fact is that there are large number of bearish bets on the dollar index, and it is likely that the Federal Reserve would make a U-turn with respect to their monetary policy," said ThinkMarkets analyst Naeem Aslam. ----------FTSE 250 - WINNERS----------Royal Mail, up 1.6%. Societe Generale upgraded the postal operator to Hold from Sell. ----------FTSE 250 - LOSERS----------Kier Group, down 17%. The troubled construction firm is preparing the sale of its housebuilding business in a deal that could be worth up to GBP150 million, the Times reported. The move to prop up its finances comes as two trade credit insurers withdrew cover insuring Kier's suppliers from any potential losses, the Times reported. Trade credit insurers pay a company's suppliers when it stops paying bills. The stock is down 57% so far this year and 83% over the past 12 months. Earlier this month, Kier said adjusted operating profit for financial 2019 will be lower than previously expected due to mounting volume pressures on three of its divisions continued. These are its Highways, Utilities and Housing Maintenance businesses. Kier will be demoted from the midcap index when the FTSE Russell index review changes come into effect later this month. ----------Lancashire Holdings, down 3.1%. Peel Hunt cut the insurer to Hold from Add. ----------OTHER MAIN MARKET AND AIM - WINNERS----------Frontier Smart Technologies Group, up 17% at 37.0 pence. The audio technology firm has received an approach from a "credible industry player", it said, shortly after a major shareholder said it may make an offer. In mid-May, Frontier and Science Group failed to reach a takeover agreement, which would have seen Science Group make a 30.0p per share bid. Advisory firm Science Group currently holds 28% of the share capital of Frontier, but, even if it takes this above 30%, will not be obliged to make an offer for the entirety of Frontier Smart's shares, as Frontier isn't subject to the UK takeover code. However, on Friday Science Group said: "Science Group has continued to try to engage with Frontier but no tangible progress has been made since the first letter on May 8. In the opinion of Science Group, Frontier has consistently tried to frustrate Science Group's proposal, most recently by the notification to Science Group that deal-related bonuses have been granted to the executive directors of Frontier, equivalent to six months' salary in addition to their contractual rights." Science Group was up 0.9%----------OTHER MAIN MARKET AND AIM - LOSERS----------Live Company, down 9.6%. The events and education firm said it halved its loss in 2018 after revenue more than doubled amid a significant expansion in events activity, with 2019 already getting off to a "very good" start. In 2018, the Lego-based events firm reported its pretax loss narrowed to GBP2.6 million from GBP5.4 million the year prior. This was after revenue more than doubled to GBP5.4 million from GBP1.9 million the year before. Live Company does not pay a dividend. ----------

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31 May 2022 17:07

LONDON MARKET CLOSE: Big oil lifts FTSE 100 as inflation hits Europe

(Alliance News) - Stocks in London ended mixed on Tuesday with oil majors helping lift the FTSE 100, while the European counterparts grappled with record inflation.

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31 May 2022 13:05

Ofcom launches investigation into Royal Mail over failure to meet delivery targets

(Sharecast News) - Communications watchdog Ofcom has launched an investigation into postal service and courier company Royal Mail's failure to meet its delivery targets over the last twelve months.

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29 May 2022 18:07

Sunday newspaper round-up: Ted Baker, Shanghai, Just Eat Takeaway

(Sharecast News) - Ted Baker's suitor from the other side of the Pond could step away from its bid for the fashion group. Authentic Brands had been negotiating an acquisition for £1.50 a share. Jut last week Ted Baker had said it was in talks with a 'preferred counter-party'. But now the US group is said to be studying deals elsewhere and the talks will in any case likely take several weeks. Other UK deals were a possibility although the US market remained its main focus. - Financial Mail on Sunday

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27 May 2022 17:03

LONDON MARKET CLOSE: Stocks rise as key US inflation measure moderates

(Alliance News) - Stocks in London ended higher on Friday after data showed a key measure of US inflation eased, fuelling hopes that price increases could be slowing.

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27 May 2022 10:06

LONDON BROKER RATINGS: JPMorgan cuts Just Eat Takeaway and Deliveroo

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

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27 May 2022 08:50

LONDON MARKET OPEN: FTSE underperforms as markets add to post-Fed rise

(Alliance News) - London's FTSE 100 fell in early dealings but is on track to post a weekly gain, while other stock markets were largely on the up on Friday in a sign investors are "comfortable" with central bank efforts to slow inflation.

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27 May 2022 08:16

LONDON BRIEFING: Pound bounce holds back FTSE 100 ahead of US data

(Alliance News) - London shares were lagging other markets in Europe and Asia on Friday, after a strong rally on Wall Street overnight. The pound moved above USD1.26, holding back the FTSE 100 index and its many dollar earners.

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25 May 2022 10:18

Centrica and Johnson Matthey indicated to join FTSE 100, Asos in 250

(Alliance News) - British Gas-owner Centrica PLC and chemical firm Johnson Matthey PLC are set to return to the FTSE 100 index next month, replacing television broadcaster ITV PLC and postal operator Royal Mail PLC, according to indicative changes released by FTSE Russell on Tuesday.

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25 May 2022 08:28

LONDON BRIEFING: M&S warns on cost hit to profit but is well placed

(Alliance News) - Marks & Spencer on Wednesday reported a swing to profit for the year ended April 2, but the clothing, homewares and food retailer cautioned on profit in the year ahead, amid the war in Ukraine and investment plans.

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24 May 2022 17:06

LONDON MARKET CLOSE: Stocks down as windfall tax woe hits energy firms

(Alliance News) - Stocks in London ended lower on Tuesday following weak PMI data, while fears over a potential windfall tax hurt energy companies.

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24 May 2022 09:26

LONDON BROKER RATINGS: Peel cuts Royal Mail; SocGen lifts Kingfisher

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and Monday:

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24 May 2022 08:24

LONDON BRIEFING: Barclays launches delayed GBP1 billion share buyback

(Alliance News) - Barclays said it will kick off a GBP1.00 billion share buyback programme on Tuesday. The programme, initially announced in February, had been delayed in March after the bank admitted it sold more financial products to investors than it was allowed to.

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23 May 2022 09:52

LONDON BROKER RATINGS: Morgan Stanley cuts WPP to 'underweight'

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

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20 May 2022 12:13

LONDON MARKET MIDDAY: China rate cut brightens end-of-week trading

(Alliance News) - The FTSE 100 in London was on course to post a weekly gain as the end of a rocky week saw sentiment perk up on news of an interest rate cut in China, contrasting with hawkish rhetoric - and rate hikes - from central banks in the US and Europe over recent months.

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20 May 2022 09:43

LONDON BROKER RATINGS: Deutsche Bank cuts Marshalls to 'hold'

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

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