Last checked at LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Thursday.
----------
FTSE 100 - WINNERS
----------
Pearson, up 11%. The education and publishing company said it will miss its previous guidance for calendar 2015 as it outlined plans to cut 4,000 jobs and simplify its business. However, the education publisher also edged up its dividend and pledged to maintain it at this level. The company now expects to report adjusted earnings per share of between 69 and 70 pence for 2015, falling short of its previous guidance of the lower end of a range of 70p to 75p. Pearson also outlined guidance for 2016, saying it expects to report adjusted earnings per share before restructuring costs of between GBP580 million and GBP620 million, down from the approximately GBP720 million it is now guiding for 2015, and earnings per share of between 50 and 55 pence.
Royal Mail, up 3.3%. The postal operator said its revenue edged higher in the first nine months of its financial year, helped by a strong performance from its GLS logistics business and a continued pattern in the UK of revenue shrinking from letters but growing from parcels. The company said its group revenue for the nine months to December 27 was up 1.0%. The group said its UK revenue was down 1.0% overall, with a 1.0% rise in parcel revenue offset by a 2.0% fall in letters revenue. Analysts said Royal Mail's Christmas trading update was in-line with expectations.
----------
FTSE 100 - LOSERS
----------
ITV, down 0.8%. UBS initiated coverage on the broadcaster with a Sell rating and 230 pence price target. ITV shares were trading at 252.20p. UBS initiated coverage on the entire European broadcasting sector and put a Sell rating on ITV primarily due to the stock's recent outperformance.
----------
FTSE 250 - WINNERS
----------
N Brown Group, up 13%. The online, catalogue and stores retailer reported growth in revenue in the third quarter of its financial year, driven particularly by its three 'Power Brands' and over the cyber weekend in November. The online, catalogue and stores retailer, which trades under multiple brands including House of Bath, SimplyBe, Jacamo, and figleaves.com, said group revenue in the 18 weeks to January 2 grew 4.1% on the same period the year before, with like-for-like sales also growing 4.1%.
Acacia Mining, up 9.3%. The gold miner said its gold production rose slightly in 2015 and said it would increase its guidance for 2016 following the ramp up of its Bulyanhulu mine in Tanzania. Acacia's full year gold production rose 2.0% year-on-year to 731,912 ounces, helped by the ramp-up at Bulyanhulu in the fourth quarter. Thanks to the addition of further production from Bulyanhulu, the group is now expecting production to hit 750,000 to 780,000 in 2016, albeit at a significantly lower cash cost thanks to reductions made at the Bulyanhulu project.
Halfords Group, up 9.2%. The bicycles and car parts retailer reported growth in revenue in the third quarter of its financial year, boosted by a strong performance at its autocentres, a return to like-for-like growth in cycling, and a record day for sales over the Black Friday weekend. Halfords said total group revenue in the 15 weeks to January 15 grew 0.4% year-on-year, as 4.1% growth in autocentres offset a 0.3% decline in retail. In the 41 weeks to the same date, total group revenue rose 1.3% as autocentres increased 4.4% and retail was up 0.8%.
----------
FTSE 250 - LOSERS
----------
Nostrum Oil & Gas, down 1.0%. The oil and gas company detailed plans designed to ensure it can "prosper" whether oil prices remain at depressed levels or move up, with the package of measures including new a new hedging deal and ways of preserving cash. Nostrum, whose main producing asset is the Chinarevskoye field in Kazakhstan, said average daily production for 2015 was 40,402 barrels of oil equivalent per day, somewhat lower than expected as a result of repairs on an export gas pipeline operated by Intergas Central Asia that is used by the company. Revenue for 2015 is expected to exceed USD445.0 million, Nostrum said.
----------
MAIN MARKET AND AIM - WINNERS
----------
Surgical Innovations Group, up 18%. The company, which develops minimally-invasive surgical products, said trading for 2015 met its expectations following an improvement in its performance in the second half. It said its revenue for the year was around GBP5.5 million, up 36% year-on-year.
Synectics, up 12%. The surveillance technology and security systems said it has secured a multi-million pound contract for a casino resort in Macau. The company will be providing security and video surveillance for the resort, which is currently under construction, and said its work will begin on the site within the next few months and be substantially complete by the end of the financial year. The contract win comes four months after Synectics opened up a new office in Macau, and adds to its portfolio of casino clients in Manila, Singapore, Korea , Saipan and Macau.
----------
MAIN MARKET AND AIM - LOSERS
----------
Fox Marble Holdings, down 13%. The marble quarrying and finishing company said it expects the majority of its 2015 order book will be pushed into 2016. The company said it expects to post reported sales for 2015 of around EUR230,000, with the majority of its orders to be moved into 2016. It said its confirmed order book for 2016 is currently around EUR3.5 million, including a big order in the UK for which the group expects to receive a deposit payment in February. The order delays were down to slower-than-expected delivery completions in 2015, the company said, and due to delays in accessing its new Malesheva quarry in Kosovo.
Bango, down 12%. The payments company said it will prioritise end-user spend through its platform, which enables app stores to allow customers to pay for digital goods by charging the cost to their mobile phone bill, though margins have come under pressure. The annualised end-user spend exit run-rate for 2015 was GBP67.0 million, Bango said, reiterating an update last week, more than double what was recorded the prior year. Towards the end of 2015, Bango said, faster growth of sales in more developed markets led to a lower end-user spend margin of 1.8%, meaning GBP1.2 million revenue to Bango from the GBP67.0 million.
----------
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
18 Apr 2024 16:52
LONDON MARKET CLOSE: Stocks recover some of recent Fed talk losses
(Alliance News) - Stock prices in London closed up on Thursday, despite the prospect of higher for longer US interest rates hanging over stocks, while initial jobless claims for the week came in steady.
Read more