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LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Wednesday.
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FTSE 100 - WINNERS
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Sage Group, up 5.9%. The software group said its organic revenue grew in the first quarter of its financial year, with good growth in its recurring revenue stream. Sage said its organic revenue, on a like-for-like and constant currency basis, grew 6.6% in the quarter to the end of December. The growth was driven by recurring revenue, where organic growth hit 10% in the quarter, helped by a 36% growth in software subscription revenue.
Aberdeen Asset Management, up 1.0%. The asset manager said it continued to suffer net outflows in the quarter to the end of December, driven by continued volatility in emerging markets, and said it will cut further costs as it looks to cope in a tough investment environment. Aberdeen, which has suffered in recent months from its exposure to a slowing Chinese economy, said it recorded net outflows of GBP9.1 billion for the quarter to the end of December, compared to the GBP12.7 billion it posted in the quarter to the end of September.
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FTSE 100 - LOSERS
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Royal Bank of Scotland Group, down 3.3%. The bank said it will make a GBP4.2 billion payment into its main pension scheme, while setting aside billions of pounds to deal with past misconduct and an impairment charge in relation to its private bank. Wednesday's actions are expected to wipe GBP3.6 billion from the group's tangible net asset value.
Antofagasta, down 3.3%. The miner said its copper and gold production accelerated in the fourth quarter but said full-year 2015 production still was lower than the year before. Antofagasta said its copper production for the fourth quarter to the end of December hit 169,900 tonnes, up 8.2% from the third quarter, thanks to higher production from its Los Pelambres and Centinela concentrates projects, plus the contribution from the Antucoya and Zaldivar mines.
ARM Holdings, down 2.1%. The tech giant Apple lowered its revenue forecast for the second quarter, when it reported earnings after the New York bell on Tuesday. Apple posted its biggest quarterly earnings ever but warned revenue could sink soon. Apple predicted between USD50 billion and USD53 billion in revenue for the second quarter, a drop from USD58 billion in the same quarter in 2015. ARM designs microprocessors for iPhones and is heavily reliant upon smartphone sales for growth.
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FTSE 250 - WINNERS
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Paragon Group, up 4.1%. The buy-to-let lender and consumer debt purchaser said its financial performance met its expectations in the quarter to the end of Dectulember and said it remains confident on the outlook for the buy-to-let market in the UK, despite regulatory changes.
Britvic, up 2.4%. The soft drinks maker said trading for the first quarter to December 20 had been hit by difficult trading conditions, but that revenue was boosted by encouraging Christmas trading. The company reaffirmed its earnings before interest, tax, depreciation and amortisation guidance range of GBP180 million to GBP190 million, after it said it saw good trading in its core markets over the entire Christmas period, with reported revenue for the first quarter 4.8% ahead of last year at GBP311.6 million.
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FTSE 250 - LOSERS
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Just Eat, down 7.1%. Traders say Morgan Stanley cut the food home-delivery stock to Underweight from Equal-Weight.
Wizz Air, down 3.1%. The budget airline said it carried more passengers and generated more revenue in its third quarter year-on-year, while it also upgraded its underlying profit estimate for the year as trading continued to prove strong. Although in its full year outlook, Wizz Air anticipated that a downward trend in unit revenues will continue in the fourth quarter of the financial year, due to lower fuel prices continuing to feed through to lower air fares.
Tritax Big Box REIT, down 2.3%. The company which invests in 'big box' warehouse property, said it is seeking to raise GBP100.0 million through a placing, open offer and subscription to back its investment plans. Tritax said it will issue a total of 80.6 million shares at 124 pence per share through the placing, open offer and subscription. The stock closed Tuesday at 131.38p and was trading at 128.54p Wednesday after the announcement.
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MAIN MARKET AND AIM - WINNERS
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Eurasia Mining, up 44%. The miner said it remains on track to begin producing platinum from the West Kytlim project in Russia this year. The company has secured all necessary approvals and received a production licence for the project in the latter half of 2015, and the company said preparatory work has progressed with production still on track to begin in 2016.
1spatial, up 6.9%. The IT support services company said it has won a new major contract for its cloud division worth in excess of GBP3.0 million.
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MAIN MARKET AND AIM - LOSERS
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London Capital Group, down 17%. The online financial trading company said that it expects to report a large loss for 2015 and that it is mulling increasing its regulatory capital to support its growth plans. LCG said said it expects its adjusted pretax loss to be in the region of GBP13.9 million for 2015, versus a GBP1.1 million pretax profit from continuing operations the previous year.
Deltex Medical Group, down 12%. The medical monitoring systems company said its sales for 2015 were broadly flat year-on-year but added that it was seeing a decline in revenue from the UK.
RPS Group, down 13%. The energy consultancy firm said trading in 2015 met its expectations, despite the turmoil in the oil and gas industry that it serves, though it said it will be cutting more costs in its energy arm due to the challenging environment.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun
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