Sabien Tech. Share News (SNT)

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Monday.

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Increasing geopolitical tension following Russia's decision to mobilize its troops in the Crimea region of Ukraine over the weekend has put pressure on equities around the world Monday as investors seek to shed traditionally risky assets, instead preferring traditional safe-havens such as gold. Subsequently, gold mining companies are among the few gainers as the price of the precious metal jumps by more than 1%, currently trading at a multi-month high of USD1,345.44 per ounce. Similarly, the price of Brent oil has risen sharply to USD111.41, its highest level of the year.

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FTSE 100 - WINNERS

Randgold Resources, up 3.8%, and Fresnillo, up 1%, are two of the biggest gainers in the blue-chip index following the jump in gold price in the aftermath of Russia's actions.

Intertek Group, up 0.9%. The company has reported higher revenues and profits for 2013, helped by the seven acquisitions it made during the year. It posted a pretax profit of GBP281.8 million for 2013, up from GBP256.6 million in 2012, as revenues rose 6.3% to GBP2.18 billion, from GBP2.05 billion. The revenue growth was driven by 4.8% organic growth, with the rest coming from the acquisitions it made. Intertek also said it will buy United Arab Emirates-based International Inspection Services from Lamprell PLC for USD66 million, or GBP40 million, in cash.

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FTSE 100 - LOSERS

Schroders, down 3.5%, and Asset Management, down 3.4%. Financial groups with exposure to emerging markets have been hit by the unfolding developments in Ukraine.

AstraZeneca, down 2.5%. The drugs giant is one of the biggest blue-chip fallers despite reporting that the US Food and Drug Administration hads approved its Bydureon Pen injectable suspension treatment for type 2 diabetes as an adjunct to diet and exercise to improve glycaemic control in adults. Merrill Lynch has lowered its recommendation on the stock to Underperform from Neutral.

TUI Travel, down 2.7%, and International Consolidated Airlines, down 2.6%. As heavy users of fuel, the airline companies are falling on the back of the increasing price of oil.

GKN, down 2.4%. UBS has downgraded the engineering group to Neutral from Buy, lowering its trading profit forecast by 7%. "Most of the downgrade is due to the sharp increase in the value of sterling versus every major currency that GKN has translation exposure to," says UBS analyst Charles Armitage.

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FTSE 250 - WINNERS

African Barrick Gold, up 5% and Centamin, up 1.9%, are big gainers as the gold miners benefit from the increasing price of gold.

Amlin, up 3.4%. The firm, which writes insurance and reinsurance in a number of markets, reported a 23% rise in 2013 pretax profit as a solid underwriting performance was supported by a quiet year for major catastrophes. It posted a pretax profit of GBP325.7 million for 2013, compared with GBP264.2 million in 2012, as its combined ratio, a measure of underwriting profitability, moved in its favour, down 3 percentage points to 86%. According to consensus estimates provided by Amlin, analysts had been forecasting a GBP297.5 million pretax profit. Amlin increased its full-year dividend to 26.0 pence a share, from 24.0 pence.

HellermannTyton, up 3.3%. The manufacturing company posted pretax profit of EUR35.1 million for 2013, down from EUR50.3 million in 2012, while revenue increased 4.6% to EUR538.0 million, from EUR514.2 million a year earlier, and increased by 11% on a constant currency basis. Profit was dented by an increase in finance costs which totalled EUR28.4 million compared with EUR15.3 million a year earlier. Analysts are forecasting sales to continue to grow as the global demand for data, and therefore cabling, increases.

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FTSE 250 - LOSERS

Keller Group, down 6.5%. The firm is a big faller despite reporting a 70% increase in profit for the recent full year, boosted by acquisitions and improved operating margins across its four geographical divisions. Both Jefferies analyst Anthony Codling and Numis analyst Chris Millington are surprised by the sharp fall and suggest that it may be as a result of other analysts who had set their estimates too high. The company has also seen a strong run in the build-up to the results. Its share price rose by more than 7% in February.

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AIM - WINNERS

Hardide, up 25%. The surface-coating technology company said it has won a major deal to supply a coating for a single component currently used by General Electric Company Inc and could win further business under the deal if development and testing work is successful. It said the deal provides a guaranteed revenue of about USD1.3 million over the next two years. The contract can also be extended by up to five years.

Leed Resources, up 17%. After falling in early trading, Leed Resources is one of the index's leading winners. The company said its directors had agreed to cancel all their outstanding share options as part of its efforts to turnaround the business. It said Bromius Capital, a company of which Non-Nxecutive Director Ian Gibbs is a director and shareholder, had a total of 120,756,913 options outstanding, while interim Chairman Jinesh Patel had 103,505,926 options outstanding. Its former Chairman Peter Redmond agreed to cancel option awards over 120,756,913 shares.

Asian Plantations, up 14%. The company said it is in talks with a number of parties that could lead to a sale of its whole business. The news follows weekend reports by The Star newspaper in Malaysia that Asian Plantations was in takeover talks with FELDA Global Ventures Holdings Bhd. Asian Plantations didn't say whether FELDA was one of the parties with which it is in talks.

Triple Plate Junction, up 13%. The group said it has sold its 25% interest in exploration licence EL 1365 to Niuminco Group Ltd in return for a 3.0% net smelter royalty payable on any production from the tenement in Papua New Guinea. Triple Plate said it has also satisfied all the conditions required for the release of a UAD200,000 escrow payment for the sale of its 8% interest in the Crater Mountain Project. It said it has asked Crater Gold Mining to make the payment.

Sabien Technology Group, up 9.4%. The company, which makes energy efficiency technology, said that it has received orders worth GBP375,000 since the announcement of its half-year results in February.

Castleton Technology, up 7.2%. The group said it has agreed to sell the trade and certain assets of its QAD software consultancy business to Glantus Ltd for GBP200,000 in cash, including GBP50,000 deferred for six months. Castleton said it has decided to sell the business because it would cost it too much to turn it around.

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By James Kemp; jameskemp@alliancenews.com; @jamespkemp

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