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WINNERS & LOSERS: Dixons Carphone Leads FTSE 100 Gainers On US Deal

Thu, 02nd Jul 2015 10:07

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

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FTSE 100 WINNERS

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Dixons Carphone, up 3.4%. The company, formed from the merger of Dixons Retail and Carphone Warehouse, said its Connected World Services arm has signed a deal with US mobile carrier Sprint Corp to open and manage a number of Sprint-branded stores in the US. It will supply mobile phone retail expertise to Sprint for 20 new stores. If successful, the scheme will then be rolled out further, with plans to open up to 500 stores. In the second phase of the programme, Dixons Carphone will invest up to USD32 million to acquire a 50% stake in the joint venture with Sprint.

Astrazeneca, up 0.9% at 4,157.00p. Berenberg upgraded the pharmaceutical giant to Buy from Hold, raising its price target to 5,200 pence from 4,800p.

Tesco, up 0.6%. Four potential buyers have been shortlisted for the sale of Tesco's Homeplus business in South Korea, which is set to fetch around USD6 billion, Reuters reported. Affinity Equity Partners, Carlyle Group, MBK Partners, and the private equity arm of Goldman Sachs have been shortlisted in the auction, Reuters said, citing a report in Korea Economic Daily.

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FTSE 100 LOSERS

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Intertek Group, down 2.8% at 2,392.00. Jefferies downgraded the testing, certification and inspection services provider to Underperform from Hold, cutting its price target to 2,100p from 2,400p.

Royal Mail, down 2.7%, Burberry Group, down 2.1%, Babcock International Group, down 1.6%. The companies are down after going ex-dividend, meaning new buyers no longer qualify for the latest dividend payout.

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FTSE 250 WINNERS

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Ophir Energy, up 2.1% at 113.80p. UBS upgraded the oil and gas company to Buy from Neutral, keeping a price target of 150p.

Jimmy Choo, up 2.0% at 164.90p. Barclays initiated the shoe retailer with an Overweight rating an a price target of 208p.

Kier Group, up 1.2%. The construction and property company said it has struck a deal to sell its fleet and passenger services business, Kier FPS Ltd, for GBP17.9 million in cash. Kier is selling the business to Alpha Holdco 1, a vehicle managed by private equity firm Endless. The sale includes the transfer of the division's finance lease debt of around GBP32 million, the company said. Kier has also signed a five-year deal with the division under which FPS will continue to supply fleet services to Kier's local authority highways and utilities business.

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FTSE 250 LOSERS

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Hunting, down 2.4%. The energy services company said its operating profit has plunged lower in the first half amid a declining rig count in the face of a falling oil price, though it said it is seeing tentative signs of a recovery, even as its full-year results look set also to show a huge drop in profit. It said the second quarter, as anticipated, saw continued declines in the oil and gas market, with an additional 34% decline in wells completed in the US, and 33% worldwide, compared to the first quarter. This "severe" decline has meant operating profit for the company in the first five months is down by 76% year-on-year.

Aveva Group, down 3.8%, Tate & Lyle, down 2.7%, ICAP, down 2.6%, N Brown, down 2.0%, Dairy Crest Group, down 1.9%. The companies are down after going ex-dividend.

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AIM ALL-SHARE WINNERS

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Spectra Systems, up 10%. The authentication technology supplier said it has signed a nine-year supply deal with an unnamed Chinese secure documents manufacturer. The contract covers the supply of at least USD5.6 million of high-margin materials by Spectra and up to USD0.5 million in hand-held readers over the course of the contract. The terms of the deal also requires a minimum annual materials revenue of GBP0.625 million, whether or not the materials are ordered.

Motive Television, up 6.7%. The technology provider to broadcasters and pay television operators said it has developed a personal video recorder for use on mobile devices and tablets, which will allow users to record programmes a week in advance and watch them at a later date.

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AIM ALL-SHARE LOSERS

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Coal of Africa, down 13%. The company said the sale of its Mooiplaats Colliery asset in South Africa to Blackspear Capital has been cancelled and said it now in talks to find another buyer. Coal of Africa's sale of the colliery asset was agreed earlier this year but has been delayed on two occasions to allow more time for Blackspear to provide proof of funding to back the ZAR250 million sale. The deadline for the offer had been extended to June 30, but this has now lapsed and will not be extended further, Coal of Africa said.

Strategic Minerals, down 10%. The company said buying more projects is "imperative" as the Cobre mine in New Mexico is not sufficient to cover its overheads. In a statement set to be given at its annual general meeting, Managing Director John Peters said that while the Cobre mine remains profitable, this is not sufficient to meet its corporate overheads.

Premaitha Health, down 9.6% at 21.35p. The company said it is to raise GBP8 million via a share placing to back its IONA test. It said it will place 40 million shares at 20 pence per share.

By Daniel Ruiz; danielruiz@alliancenews.com

Copyright 2015 Alliance News Limited. All Rights Reserved.

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22 Jul 2014 09:25

Spectra Systems signs two agreements for its smartphone-based technology

Spectra Systems has signed two contracts of product authentication with two suppliers for its smartphone-based technology. The agreements, which include minimum and recurring license fees, are non-exclusive in the People's Republic of China and exclusive in Korea. The minimum and license fees wil

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23 Jun 2014 07:40

Indonesian Central Bank Tests Spectra Systems Banknote Cleaning System

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23 Jun 2014 07:27

UK MORNING BRIEFING: Shares Down As Iraq Fighting Lifts Oil Prices

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20 Jun 2014 10:56

Spectra Settles Lawsuit For USD2.1 Million, Terminates Agreement

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12 Jun 2014 07:29

Spectra Systems Adds Banco de Mexico To Banknote Cleaning Testers

LONDON (Alliance News) - Banknote and product authentication technology company Spectra Systems Corp Thursday said that Banco de Mexico has become the third central bank to start testing its soiled banknote cleaning technology. "This testing program will be invaluable to the company for det

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30 Apr 2014 10:24

Spectra Systems 2013 Loss Widens On Higher Costs, Expenses

LONDON (Alliance News) - Spectra Systems Corp Wednesday posted a widened pretax loss as higher sales costs and operating expenses offset revenue increases in 2013. Spectra Systems provides technology for banknote and product authentication. The company posted a pretax loss of USD717,0

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29 Apr 2014 13:03

Spectra Systems Wins Contract For Michigan State Lottery

LONDON (Alliance News) - Spectra Systems Corporation said Tuesday that it had won a contract to provide internal control systems for the Michigan State lottery for an initial term of four years with the possibility of extensions. Spectra said its platform will allow the lottery to monitor a

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3 Mar 2014 08:21

Monday broker round-up UPDATE

African Barrick Gold: Citi increases target price from 120p to 179p, but still recommends selling. African Minerals: Citi cuts target price from 300p to 260p leaving its buy recommendation unchanged. Aggreko: Deutsche Bank reduces target price from 1870p to 1400p and downgrades to hold. Anglo Ame

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30 Jan 2014 12:33

Spectra shares drop fifth of value after client cancels programme

Shares in Spectra Systems declined sharply on Thursday after the group revealed that a G8 central bank customer has decided to cancel a programme on which Spectra had been working. The customer, which had been funding the materials and sensor development for a new generation technology, the incorp

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30 Jan 2014 09:06

Thursday broker round-up UPDATE

Amedeo Resources: Daniel Stewart initiates with a target price of 2p and a buy recommendation. Anglo American: Credit Suisse ups target price from 1600p to 1650p and leaves its neutral rating unchanged. Antofagasta: Citi takes target price from 270p to 290p, but still recommends selling. JP Morgan

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30 Jan 2014 08:33

UK MORNING BRIEFING: BSkyB Up, Diageo Down Amid Lower Open

LONDON (Alliance News) - UK shares have opened lower Thursday, following the decision of the US Federal Reserve to continue tapering its asset purchases.

A large number of UK company reports at the open have seen a positive statement from BSkyB, up 2.4% at the open,

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30 Jan 2014 07:50

Spectra Systems Says 2013 In Line With Hopes, But Hit By Programme Cancellation

LONDON (Alliance News) - Spectra Systems Corp Thursday said a G8 central bank that had been funding materials and sensor development for a new technology has decided to cancel the programme. In a trading update, the bank note and passport security feature developer said it expects its 2013

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16 Jan 2014 11:25

Spectra Systems Gets First Banknote Security Orders For New Facility

LONDON (Alliance News) - Spectra Systems Corp Thursday said it had received the first orders for covert banknote security to be produced at its new manufacturing facility, a key step as it tries to boost margins by doing its manufacturing. In a statement, the Rhode Island-based company said

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25 Nov 2013 08:02

Spectra Systems Soiled Banknote Technology Being Tested By G8 Bank

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14 Nov 2013 12:45

Spectra Systems Gains Central Bank Approval Sensor Shipments Worth USD8M

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