STOB.L Share News (STOB)

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Wednesday.----------FTSE 100 - WINNERS----------Fresnillo, up 1.3%. The gold miner was tracking spot gold prices higher quoted at USD1,283.44 an ounce, up from USD1,278.69 at the London equities close Tuesday. Trade war fears pushed up the price of the safe haven precious metal after media reports suggested China could be considering restricting the export of rare earth minerals, which are crucial for the US technology industry.----------FTSE 100 - LOSERS----------British American Tobacco, down 5.5%, Imperial Brands, down 2.7%. The tobacco stocks were lower after Nielsen data showed cigarette sales volume fell by 11.2% in the four-week period ended May 18.----------FTSE 250 - WINNERS----------Stobart Group, up 9.5%. The aviation, support services and logistics company said revenue rose sharply in its most recent financial year, but swung to a loss as a result of investment, legal costs, and non-cash items. Revenue from continued operations for the year ended February 28 totalled GBP146.9 million, up 39% from GBP105.4 million, as Aviation division revenue jumped 53% to GBP39.4 million from GBP25.8 million. Stobart posted a pretax loss of GBP42.1 million, swinging from a GBP109.3 million profit the year before. Stobart proposed a 3.0 pence per share final dividend, down from 4.5p per share in financial 2018. This halves the total dividend per share for the year to 9.0p from 18.0p. For Stobart's 2020 financial year it decided to rebase its dividend, shifting to equal payment of 3p per share paid twice per year for 6p total, in order to fund its growth plan. Looking ahead, Stobart is focused on developing London Southend Airport, as well as an energy business with long-term contracts for 2 million tonnes of biomass fuel per annum. "The company is being rewarded for thinking in the long term, with shareholders seemingly prepared to take the pain associated with a cut to the full year dividend in order to reap the benefits of investment in the business later on," said AJ Bell's Russ Mould. ----------FTSE 250 - LOSERS----------Premier Oil, down 5.1%, Cairn Energy, down 5.0%, Hunting, down 4.0%. The oil stocks were down tracking spot oil prices lower, quoted at USD68.44 a barrel, down from USD69.80 at the London equities close Tuesday. ----------OTHER MAIN MARKET AND AIM - WINNERS----------Spectra Systems, up 6.0%. The banknote authentication technology provider said it expects profit for 2019 to surpass market expectations. Spectra Systems said the higher profits is due to funding related to central bank sensor research, and strong sales in optical materials in the first half of the year. "We are very pleased that we are able to provide a positive trading update for 2019 which is reflective of an increasing product mix which allows for sustained strong profitability," said Chief Executive Officer Nabil Lawandy. In 2018, the company recorded pretax profit of USD4.0 million on a revenue of USD12.5 million.----------