LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Tuesday.
----------
FTSE 100 - WINNERS
----------
Royal Mail, up 2.2%. Cantor Fitzgerald upgraded the postal operator to Buy from Hold, arguing that markets have underestimated the strength and value of the group's brand and network and have overstated concerns about its wage negotiations, future pension costs and regulatory risks. Royal Mail currently trades at 10.5 times 2016 earnings estimates, compared to 15.1 times for the wider mail and logistics sector. Though the business faces challenges in the next couple of years, it looks better prepared to meet these than before, analyst Robin Byde said, and the benefits of its established brand and networks are not fully appreciated.
Tesco, up 1.6%. Deutsche Bank upgraded the supermarket to Buy from Hold following a recent fall in its share price and on confidence it will be able to outpace its rivals on margin progression despite its lacklustre like-for-like sales performance. Despite its disappointing top-line, Deutsche said Tesco has the strongest valuation support among the UK supermarkets.
----------
FTSE 100 - LOSERS
----------
Next, down 5.2%. The fashion and homeware retailer reported a rise in sales in the year to January 2, although growth was below the bottom end of its prior guidance, and said it expects full-year profit to remain within its previously guided range. Next also declared another special dividend. The retailer said total brand sales rose 3.7% in the year to January 2, with Next Retail up 2.1% and Next Directory up 6.1%. This was below its previously guided range of between 4% and 6% growth for total sales. In the 60 days from October 26 to December 24, total brand sales grew 0.4%, as a 2% increase in Next Directory offset a 0.5% decline in Next Retail. Next said its performance in the fourth quarter was "disappointing" due to unusually warm weather in November and December, while Next Directory was hit by poor stock availability from October onwards. The weak update from Next appeared to be dragging on other retailing stocks, amid concerns that Next's report signalled a poor Christmas for UK retailers generally, with Marks & Spencer Group down 0.9% and mid-cap department store operator Debenhams falling 2.2%.
Aberdeen Asset Management, down 5.8%. Barclays cut the emerging markets-focused asset manager to Underweight from Equal Weight, claiming concerns about the company go beyond a simple macroeconomic call on weak investor sentiment toward emerging markets. Barclays said it holds concerns about equity performance, the challenging outlook for investment flows, and "poor" dividend cover. Barclays said other areas exposed to potential outflows include Aberdeen's underperforming global equities desk, high yield in fixed income, the life book of the Scottish Widows Investment Partnership business acquired from Lloyds Banking Group in April 2014, and the multi-asset area of its Solutions arm.
----------
FTSE 250 - WINNERS
----------
Spire Healthcare Group, up 2.6%. JPMorgan Cazenove upgraded its price target on the private hospitals operator to 395 pence from 310p, keeping a Neutral rating on the stock. Spire shares were trading at 311.90p.
----------
MAIN MARKET AND AIM - WINNERS
----------
MySQUAR, up 11%. The Myanmar-based social media and entertainment platform operator said its total user base was in excess of 2.0 million at the end of 2015. The company said the rise brought its user base to two-and-a-half times the level it had been at the end of May 2015. "As 2015 developed it became clear that we were meeting our targets well ahead of expectations, and this latest update on user acquisition robustly maintains that trend," said Chief Executive Eric Schaer.
Bango, up 9.6%. The mobile payments company said it has deepened its relationship with Microsoft so that customers running the technology giant's latest operating system, Windows 10, on a PC or tablet can buy digital content by charging the costs to their mobile phone bill. Bango said the availability with specific operators will be disclosed as the carrier-billed payments are launched starting in January.
----------
MAIN MARKET AND AIM - LOSERS
----------
Mosman Oil & Gas, down 15%. The oil and gas company said it has issued a review notice to Origin Energy over the acquisition of the South Taranaki licence in New Zealand after the Brent oil price benchmark dropped below USD40 per barrel. Brent was trading at USD36.84 a barrel Tuesday morning. Mosman is acquiring a 70% stake in the licence from Origin but has now issued the notice in order to enter good faith negotiations of amendments to the agreement given the fall in world oil prices. If no agreement is reached within 30 days on an amended deal, either party has the option to terminate the agreement, Mosman said.
Motive Television, down 9.2%. The television technology company said it has agreed a deal with the largest investor in its convertible loan notes, in a move designed to get the company's balance sheet in order. The deal means Motive Television will buy convertible loan notes with a face value of GBP1.4 million from the investor for GBP100,000, plus a five-year warrant that allows the holder to acquire 5.0% of the company. Completion of the acquisition is expected no later than January 15.
----------
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
UK dividends calendar - next 7 days
Friday 17 May | |
AB Dynamics PLC | dividend payment date |
Barratt Developments PLC | dividend payment date |
Breedon Group PLC | dividend payment date |
Cairn Homes PLC | dividend payment date |
Direct Line Insurance Group PLC | dividend payment date |
Drax Group PLC | dividend payment date |
Finsbury Growth & Income Trust PLC | dividend payment date |
IMI PLC | dividend payment date |
Impact Healthcare REIT PLC | dividend payment date |
JPMorgan Japan Small Cap Growth & Income PLC | dividend payment date |
JPMorgan US Smaller Cos Investments Trust PLC | dividend payment date |
Kenmare Resources PLC | dividend payment date |
Luceco PLC | dividend payment date |
Morgan Advanced Materials PLC | dividend payment date |
Primary Health Properties PLC | dividend payment date |
Seneca Growth Capital VCT PLC - Class B | dividend payment date |
Standard Chartered PLC | dividend payment date |
Monday 20 May | |
Airea PLC | dividend payment date |
Ascential PLC | ex-dividend payment date |
hVIVO PLC | dividend payment date |
Invesco Bond Income Plus Ltd | dividend payment date |
Jupiter Fund Management PLC | dividend payment date |
Murray International Trust PLC | dividend payment date |
Tuesday 21 May | |
Bridgepoint Group PLC | dividend payment date |
HgCapital Trust PLC | dividend payment date |
Lloyds Banking Group PLC | dividend payment date |
Old Mutual Ltd | dividend payment date |
Wednesday 22 May | |
Central Asia Metals PLC | dividend payment date |
Eurocell PLC | dividend payment date |
Harbour Energy PLC | dividend payment date |
London Stock Exchange Group PLC | dividend payment date |
Man Group PLC | dividend payment date |
Merchants Trust PLC | dividend payment date |
Phoenix Group Holdings PLC | dividend payment date |
Smith & Nephew PLC | dividend payment date |
Softcat PLC | dividend payment date |
Thursday 23 May | |
abrdn Equity Income Trust PLC | ex-dividend payment date |
AEW UK REIT PLC | ex-dividend payment date |
Andrews Sykes Group PLC | ex-dividend payment date |
Aptitude Software Group PLC | ex-dividend payment date |
Avingtrans PLC | ex-dividend payment date |
Bellway PLC | ex-dividend payment date |
BlackRock Greater Europe Investment Trust PLC | ex-dividend payment date |
BlackRock Smaller Cos Trust PLC | ex-dividend payment date |
Bluefield Solar Income Fund Ltd | ex-dividend payment date |
Burford Capital Ltd | ex-dividend payment date |
Cardiff Property PLC | ex-dividend payment date |
Coca-Cola Europacific Partners PLC | dividend payment date |
ConvaTec Group PLC | dividend payment date |
CRH PLC | ex-dividend payment date |
DCC PLC | ex-dividend payment date |
Diploma PLC | ex-dividend payment date |
Diversified Energy Co PLC | ex-dividend payment date |
Empresaria Group PLC | ex-dividend payment date |
Fintel PLC | ex-dividend payment date |
Grainger PLC | ex-dividend payment date |
HICL Infrastructure PLC | ex-dividend payment date |
HSS Hire Group PLC | ex-dividend payment date |
Imperial Brands PLC | ex-dividend payment date |
ITV PLC | dividend payment date |
JPMorgan UK Smaller Cos Investment Trust PLC | ex-dividend payment date |
Keywords Studios PLC | ex-dividend payment date |
Lords Group Trading PLC | ex-dividend payment date |
ME Group International PLC | dividend payment date |
Mincon Group PLC | ex-dividend payment date |
NextEnergy Solar Fund Ltd | ex-dividend payment date |
Nexus Infrastructure PLC | ex-dividend payment date |
Niox Group PLC | ex-dividend payment date |
Savills PLC | special dividend payment date |
Scottish American Investment Co PLC | ex-dividend payment date |
Secure Trust Bank PLC | dividend payment date |
Sequoia Economic Infrastructure Income Fund Ltd | dividend payment date |
Spire Healthcare Group PLC | ex-dividend payment date |
TI Fluid Systems PLC | ex-dividend payment date |
Town Centre Securities PLC | ex-dividend payment date |
Town Centre Securities PLC | ex-dividend payment date |
Tritax Big Box REIT PLC | ex-dividend payment date |
Tritax EuroBox PLC EUR | ex-dividend payment date |
Tritax EuroBox PLC GBP | ex-dividend payment date |
UIL Ltd | dividend payment date |
Weiss Korea Opportunity Fund Ltd | ex-dividend payment date |
Whitbread PLC | ex-dividend payment date |
Comments and questions to newsroom@alliancenews.com | |
A full 14-day events calendar is provided each day with a subscription to Alliance News UK Professional. | |
Copyright 2024 Alliance News Ltd. All Rights Reserved. |