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WINNERS & LOSERS SUMMARY: Intu Properties Up As Consortium Makes Offer

Fri, 19th Oct 2018 10:50

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Friday.----------FTSE 100 - WINNERS----------London Stock Exchange Group, up 1.2%. LSEG said it will acquire a further 15% of LCH, taking its ownership to 80%. LSEG said the total cash consideration for the acquisition will be up to a maximum of EUR438 million. The acquisition will be funded from cash and existing debt facilities. The deal is expected to close before the end of 2018. In addition, for the three months ended September, LSEG reported a 7.4% increase in total income to GBP522 million from GBP486 million in the same period a year ago. The company's net revenue, which excludes income from the company's central counterparty business, increased 4.7% to GBP464 million from GBP443 million. LSEG's third-quarter gross profit increased 8.1% year-on-year to GBP465 million from GBP430 million.----------Evraz up 0.2%. The steel producer said its ongoing efficiency programme will result in a USD290 million to USD300 million gain on earnings before interest, taxes, depreciation and amortisation basis for 2018. Evraz is targeting to maintain its cost savings to improve cost of sales by at least 3% or around USD250 million to USD300 million per annum going forward. The company, which is holding an investor day on Friday, is considering four major investment projects to increase sales of finished steel products to local markets in In 2019 to 2022 period. It plans to invest between USD830 to USD990 million per annum during the period. For 2018, Evraz is guiding capital expenditure of USD640 million to USD660 million.----------FTSE 100 - LOSERS----------Intercontinental Hotels Group, down 7.0%. The hotel operator reported 1.0% rise in revenue per available room for the third quarter ended September, resulting from a 1.7% rise in room rates, offset by a 0.7% dip in occupancy. In Europe, Middle East, Asia & Africa, RevPAR was up 2.5% boosted by a good performance from Continental Europe, which saw RevPAR up 4.3%. EMEAA room rates were up 2.2% and occupancy by 0.3%. Also in Greater China RevPAR increased up 4.8% driven by continued transient and corporate demand, with room rates higher by 3.6% and occupancy by 1.2%. In addition, IHG said it will pay a USD500 million special dividend with a share consolidation in the first quarter of 2019.----------FTSE 250 - WINNERS----------intu Properties, up 12%. The property group confirmed that it had received a takeover proposal from a consortium comprising Peel Group, Olayan Group, and Brookfield Property Group. On Wednesday, intu received a revised proposal from the consortium of 215p per share in cash, it said. The terms of both the initial and revised proposals provide that the mooted consideration will be reduced by any dividends declared or paid by intu prior to completion of the deal. This includes intu's interim dividend of 4.6p per share, due to be paid in November. Accordingly, the consideration under the revised proposal would be 210.4p per share. That price values intu at GBP2.85 billion.----------Dechra Pharmaceuticals, up 4.7%. The group said that its trading in the first quarter was in line with management views with both units EU Pharmaceuticals and NA Pharmaceuticals recording "above market growth". The company said it is confident in the "continued out-performance" of the markets where it operates. In a separate announcement, Dechra said it bought Brazil-based Laboratorios Vencofarma for GBP37.8 million. Venco, which owns a portfolio of vaccines and food producing animal products, recorded GBP11.6 million in revenue for 2017. The firm, based in Londrina, Brazil, also owns a small range of companion animal products vaccines and pharmaceuticals.----------IP Group, up 2.3%. Berenberg initiated the intellectual property company with a Buy rating, and a target price of 160 pence.----------FTSE 250 - LOSERS----------Renishaw, down 7.4%. On Thursday, the engineering company reported a fall in pretax profit for the three months to the end of September by 9.2% to GBP33.5 million from GBP36.9 million in the first quarter of 2018. Renishaw's total revenue increased 8.2% to GBP154.0 million from GBP142.3 million in the same period last year. The company's Metrology division increased its revenue 7.5% in the first quarter to GBP147.4 million from GBP137.1 million. The company said it remains confident in its future prospects despite the "potential impacts" of Brexit and the "economic uncertainties" in Asia.----------Essentra, down 3.6%. The packaging and plastic products manufacturer said it will record a GBP12 million exceptional charge in the second half of 2018 due to the intended closure of the commercial print and consumer packaging site in Largo, US, as well as consultation processes at the company's commercial print facility in Kilmarnock and Nottingham in the UK. The Largo facility in Florida is expected to close by the end of 2018 and, if the proposals in the UK are confirmed, the Kilmarnock site would close and Speciality Tapes cease production in Nottingham by the same time.----------OTHER MAIN MARKET AND AIM - WINNERS----------Photonstar LED Group, up 15%. The LED lighting manufacturer has entered a partnership with a major housing association in the south of England to conduct a trial to assess the scalability of a number of products within Photonstar's V2 halcyon cloudBMS product suite to increase safety. The applications to be tested by the trial includes energy monitoring, critical assets monitoring, emergency lighting remote testing, temperature monitoring of water systems to reduce legionella risk and general environmental monitoring.----------Safestyle UK, up 14%. The windows and doors maker has confirmed that it is not in talks to acquire NIAMAC Developments, trading as SafeGlaze UK, or any of its business or assets. The board said it it is considering "other arrangements" with NIAMAC that could accelerate Safestyle's recovery. ----------OTHER MAIN MARKET AND AIM - LOSERS----------Rockfire Resources, down 29%. The exploration company reported its reverse circulation drilling results at Marengo in Queensland, Australia, with the blind geophysical anomalies beneath and to the northeast of One Mile Mountain containing up to 1-2% pyrite, but hosts significant gold or copper in the two holes drilled.----------Futura Medical, down 27%. The sexual health-focused pharmaceutical company raised GBP5.6 million through a placing, subscription and open offer of shares at 7.0 pence per share. The price reflects a discount of 28% to Thursday's closing price of 9.65 pence. Proceeds will go towards funding its topical erectile dysfunction gel through to a phase three trial. The funds are also expected to allow more headroom in a long-term open label arm of the study, and to allow a second phase three trial to take place.----------Webis Holdings, down 18%. The pool wagering specialist said its US business, WatchandWager.com LLC has no choice but to end its wagering services to a syndicate following a commercial dispute. As a result, WatchandWager have refunded the syndicate's player balances, totalling USD10 million. This is expected to reduce Webis' gross margin for the year ending May 2019 by USD800,000.----------
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EARNINGS AND TRADING: UK Oil in Broadford blow; SolGold optimistic

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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4 Mar 2024 14:29

TRADING UPDATES: Beowulf ups Vardar stake; Impellam buyout nears

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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1 Feb 2024 20:00

EARNINGS AND TRADING: Tandem FY sales down 17%; Hikma's opioid deal

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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30 Jan 2024 14:02

IN BRIEF: Rockfire confident about twinned holes at Maloi zinc deposit

Rockfire Resources PLC - London-based mineral exploration company - Says drilling at Maloi zinc deposit in Greece replicates historical drill holes. Finds 73.44 grams of silver per tonne at hole MO_GTK_009, as well as 30.63 grams of germanium per tonne. Chief Executive Officer David Price said: "This replication of historical holes was requested by SRK Consulting Geologists to provide increased confidence in the positioning and grades/widths of historical drill holes. The results indicate that the similarities between the original holes and the new holes are close. The width varies in hole MO_GTK_009, however this is likely due to differences in sample lengths and sampling intervals selected. This drilling provides confidence in the original data and validates many of the historical drill holes to be included into a future resource upgrade."

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19 Jan 2024 10:29

Rockfire touts positive drill results from Lighthouse tenement

(Alliance News) - Rockfire Resources PLC on Friday noted Sunshine Metals Ltd's "encouraging" drill results at the Lighthouse tenement in Queensland.

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12 Dec 2023 11:23

IN BRIEF: Rockfire shares rise as it secures USD2 million repayment

Rockfire Resources PLC - London-based mineral exploration company - UK Government's Office of Financial Sanctions Implementation confirms that an exemption licence is not required for Rockfire to secure the return of a USD2 million payment, which can now be transferred back to the firm. Rockfire paid this initial consideration for a 10% shareholding in Emirates Gold DMCC and Emperesse Bullion LLC, but applied for the exemption license earlier this month after withdrawing from the conditional share purchase agreement.

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4 Dec 2023 16:27

Rockfire requests exemption license from OFSI for return of USD2Million

(Alliance News) - Rockfire Resources PLC has applied to the UK government's Office of Financial Sanctions Implementation for an exemption license relating to the cancelled purchase of shares in Emirates Gold DMCC and Emperesse Bullion LLC.

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15 Nov 2023 13:05

TRADING UPDATES: BiVictriX patent boost; 4Global deal extended

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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13 Nov 2023 16:43

TRADING UPDATES: PCI-PAL picked by Zoom; Biome in project delays

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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8 Nov 2023 18:19

IN BRIEF: Rockfire Resources taking legal advice amid Paloma sanctions

Rockfire Resources PLC - Australia and Greece-focused base metal, gold, and critical mineral exploration company - Notes the announcement by the UK Foreign, Commonwealth & Development Office imposing sanctions on Paloma Precious DMCC and 28 other individuals and entities. In September, Rockfire said it acquired 100% of Emirates Gold DMCC and 99% of Emperesse Bullion LLC from Paloma Precious DMCC via a share purchase agreement which constituted a reverse takeover. Subsequently, Paloma notified the company it had sold its entire interest of 400 million shares in Rockfire in an off-market transaction. In light of the sanctions announced today, says taking urgent legal advice in order to determine the impact on the transaction.

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13 Oct 2023 15:14

Rockfire launches drilling programme at Molaoi

(Sharecast News) - Base metal, gold and critical minerals explorer Rockfire Resources announced a precise drilling programme at its wholly-owned Molaoi zinc deposit in Greece on Friday.

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13 Oct 2023 12:58

Rockfire Resources begins drilling at Molaoi in Greece

(Alliance News) - Rockfire Resources PLC on Friday said it has begun drilling at its 100%-owned Molaoi zinc deposit in Greece.

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29 Sep 2023 12:21

EARNINGS: Rockfire interim loss widens due to increased expenses

(Alliance News) - The following is a round-up of earnings for London-listed companies, issued on Friday and not separately reported by Alliance News:

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21 Sep 2023 21:14

IN BRIEF: Rockfire Resources raises GBP3.5 million via investors

Rockfire Resources PLC - Australia and Greece-focused base metal, gold, and critical mineral exploration company - Successfully raises GBP3.5 million through two new institutional investors subscribing for 700.0 million new shares at 0.5 pence per share. Net proceeds will be used to satisfy the initial USD2 million consideration for the acquisition of 100% of Emirates Gold DMCC and 99% of Emperesse Bullion LLC from Paloma Precious DMCC via a share purchase agreement. The final consideration will be USD18 million. On admission of the shares, the company's issued share capital will consist of 2.54 billion shares.

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15 Sep 2023 09:52

Rockfire Resources acquires two precious metals businesses

(Alliance News) - Rockfire Resources PLC on Friday said it has acquired 100% of Emirates Gold DMCC and 99% of Emperesse Bullion LLC from Paloma Precious DMCC via a share purchase agreement.

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