LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Monday.
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FTSE 100 - WINNERS
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SABMiller, up 1.6% at 3,727 pence. The Times reported that Anheuser-Busch InBev is expected to increase its GBP65 billion offer for the company early this week, ahead of the 1700 BST deadline on Wednesday. The current offer stands at GBP42.15 per share, and the report suggested the offer is likely to be raised to between GBP43 and GBP44 per share. SABMiller rejected the GBP42.15 per share offer last Wednesday, saying it "substantially undervalues" the business.
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FTSE 100 - LOSERS
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Rolls Royce, down 4.0%. European regulators have launched a probe into aircraft maintenance contracts, according to a report from the FT, to investigate whether airlines are being forced to enter into anti-competitive contracts. Rolls Royce, which provides the only engine for Airbus' new wide-body aircraft the A350 XWB, has been approached by the commission.
Standard Chartered, down 2.5%. Investec cut its rating on Standard Chartered to Hold from Buy, although it kept its price target of 820 pence. Investec said that consensus forecasts for revenue and earnings remain "far too high", despite a raft of recent downgrades. Whilst it still regards the stock as slightly cheap, it sees much clearer value elsewhere, it said.
Glencore, down 0.8%. The commodities trader and miner said it has begun a process to sell its wholly-owned Cobar copper mine in Australia and Lomas Bayas copper mine in Chile. The company said the sale process is in response to receiving a number of "unsolicited expressions of interest for these mines from various potential buyers". Shore said the proposed sales are "hardly votes of confidence in either the copper price outlook or Glencore's wider prospects."
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FTSE 250 - WINNERS
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Carillion, up 8.2%. The construction and support services company reiterated confidence in achieving its targets for 2015 and ending the year with strong revenue visibility for 2016, as it said it has secured business worth around GBP1.7 billion since the end of its first half.
Bank of Georgia, up 5.6%. The company announced plans to spin off its healthcare subsidiary in a float on the London Stock Exchange. Georgia Healthcare Group intends to raise USD100 million when it floats on the exchange, while Bank of Georgia Holdings wants to sell an unspecified number of existing shares through its intermediate holding company. Georgia Healthcare Group Chief Executive Nikoloz Gamkrelidze said the IPO will enable the healthcare company to finance its immediate growth plans, as well as giving it access to capital markets for the future growth.
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FTSE 250 - LOSERS
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Kaz Minerals, down 2.4% at 143.26 pence. Goldman Sachs cut its rating on the UK-based copper company to Sell from Neutral, and lowered its price target to 110p from 130p.
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MAIN MARKET AND AIM - WINNERS
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Mobile Streams, up 35%. The mobile media company expressed confidence for its future prospects, as it continued to take steps to mitigate a hit from the devaluation of the Argentinian peso, reporting a rising in pretax profit for its recently ended financial year despite a drop in revenue. The mobile media company reported a rise in pretax profit to GBP832,000 in the year to end-June, compared to GBP153,000 a year before, as a big drop in revenue to GBP29.1 million from GBP48.6 million was offset by a fall in cost of sales, selling, marketing and administrative costs.
BMR Mining, up 12%. The company said it has submitted a draft environmental social impact assessment to the Zambian Environmental Management Agency. The Zambian-focused mineral processing business said it will continue to hold regular meetings with the Zambian Environmental Management Agency during the review process.
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MAIN MARKET AND AIM - LOSERS
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Sefton Resources, down 37%. The company said Chief Financial Officer Raylene Whitford will leave the company no later than November 10, and that the prospective nominated adviser it intended to appoint to replace Allenby Capital has decided not to proceed. Allenby has said it will resign if the new directors that have been put forward by a group of shareholders are appointed, and Non-Executive Directors Tom Milne and Keith Morris resign. Under AIM rules the company's shares will be automatically suspended in Allenby Capital resigns, and the company would be left with a month to find a new nomad before its shares are cancelled.
eServGlobal, down 26%. The mobile money payments business now expects to record a loss before interest, tax, depreciation and amortisation for its current financial year, a result of delays in closing certain high-margin orders ahead of the year end.eServGlobal said its EBITDA loss, adjusted to exclude restructuring costs, equity accounted impact of investment in its HomeSend joint venture with MasterCard and BICS, and foreign exchange gains or losses, is expected to be in the range of EUR5 million to EUR6 million on revenue in the range of EUR17.5 million to EUR18.5 million.
Telit Communications, down 14%. Telit lowered its forecasts for its full year, although it reported a rise in revenue in the first nine months of the year. Telit now expects full-year revenue to be in the region of USD330 million to USD340 million, while adjusted earnings before interest, tax, depreciation and amortisation will be between USD40 million and USD45 million. It had previously guided for adjusted earnings of between USD42 million and USD47 million, and revenue of between USD347 million and USD354 million.
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By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
19 May 2016 11:28