LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Monday.
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FTSE 100 - WINNERS
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Whitbread, up 1.9%. The owner of Premier Inn and Costa Coffee was boosted by an upgrade from Bank of America Merrill Lynch, which raised its rating on the group to Buy, according to traders.
BAE Systems, up 1.6% to 528.00p. The defence contractor rose after it was upgraded to Overweight from Neutral by JPMorgan Cazenove, which also hiked its target price to 605 pence from 465p. Conversely in the defence sector, defence services company QinetiQ Group was down 2.9% in the FTSE 250 after JPMorgan Cazenove cut its rating on the group to Neutral from Overweight.
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FTSE 100 - LOSERS
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St James's Place, down 1.1% to 911.00p. Deutsche Bank downgraded its rating on the wealth manager to Hold from Buy and cut its target price to 980p from 1,025p. The bank said the group faces significant risks from UK pension reform and widespread nervousness in equity markets, particularly given its higher proportion of high-net-worth customers than rivals such as Standard Life. Standard Life shares were up 1.2% after being upgraded to Buy from Hold by both Jefferies and Deutsche Bank on Monday and by HSBC on Friday.
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FTSE 250 - WINNERS
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Home Retail Group, up 8.5%. Several shareholders in the Argos and Homebase owner have demanded more than GBP1.6 billion for the business from J Sainsbury, the Sunday Times reported. According to the newspaper, the supermarket now faces an uphill struggle to acquire Home Retail, following news last week that it had made an offer for the company in November. The first offer was thought to have valued Home Retail at GBP1.1 billion, according to the report, which said three big shareholders told the Sunday Times they wanted at least GBP1.6 billion, compared to Home Retail's current market cap of GBP1.2 billion. With Sainsbury's likely to sell Homebase if it succeeds with its bid, the report said that homewares retailer Dunelm Group has held talks with private equity firms about buying the DIY chain and carving up its store estate. Sainsbury's shares were up 1.4%, while Dunelm shares were down 0.7%.
Laird, up 6.5%. The wireless components manufacturer could be a takeover target for US electronics group Amphenol, according to a report in The Sunday Telegraph. The newspaper said it understood Amphenol, which makes electronic and fibre optic connectors, cables and interconnector systems, has been running the rule over Laird. The process is at an early stage and may not ultimately lead to a bid, the Telegraph said, but Amphenol is understood to have been attracted by Laird's relative discount to peers.
Savills, up 4.9%. The real estate advisor said it saw a strong finish to 2015 and expects its underlying results will come in ahead of its expectations. Savills said some significant commercial deals for a number of businesses globally completed in the final months of the year, and it was boosted by its investment management unit completing the sale of its Potsdamer Platz assets in Berlin, meaning that unit had a stronger-than-expected end to the year.
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FTSE 250 - LOSERS
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SSP Group, down 2.4%. The company, which operates food and drink concessions in travel hubs, was initiated with a Sell rating by UBS, which said the company is currently trading at multiples which are too high for the current point in the economic cycle. Though confident the company will deliver very solid growth in coming years, analyst Chris Stevens said at this point in the cycle, a lower multiple is warranted.
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MAIN MARKET AND AIM - WINNERS
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Rockhopper Exploration, up 14%, Falkland Oil & Gas, up 12%. Alongside partner Premier Oil, up 0.6%, the pair said they have made a new oil discovery whilst confirming a previous discovery after re-drilling one of their wells. Oil was encountered in "a number of sandstone reservoirs" between 2,564 and 2,861 metres at the Isobel Deep well, and the partners said no oil-water contacts were encountered. Further evaluation will now be required to calibrate the well with the existing 3D seismic in order to determine future plans and the extent of the discovered resource, the partners said.
Satellite Solutions Worldwide Group, up 11%. The satellite communications company said it has signed an agreement with BT Group to become one of the satellite broadband retail service providers under a new government scheme. The scheme, under which the government will roll-out subsidised satellite broadband services to homes and businesses in the UK, will see the government provide funding for the capital cost of the dish and modern equipment, connection fees and installation.
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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 |
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