(Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Wednesday.
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FTSE 100 - WINNERS
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Vodafone Group, up 1.0%. The telecommunications firm said it will occupy 24 vacant retail premises in the UK to boost its high street presence. The initiative is part of the telecommunication firm's franchise operation which "offers local entrepreneurs the chance to manage the new stores from day one and earn commission", Vodafone said. It is the first time Vodafone is extending its franchise operation to empty shops, and it ensures there is no upfront cost to the franchisee, the firm added.
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FTSE 100 - LOSERS
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Kingfisher, down 2.1%. The DIY retailer, which owns B&Q in the UK and Castorama in France, reported a decline in sales during a mixed first half for its retail units. In the six months to July 31, revenue fell by 1.4% year-on-year to GBP6.00 billion from GBP6.08 billion. Pretax profit fell by 13% to GBP245.0 million from GBP280.0 million. On a like-for-like basis, sales fell by 1.8%, with growth at UK trade tools provider Screwfix and in Kingfisher's operations in Poland and Romania offset by declines in France and at B&Q. Divisionally, sales in the UK & Ireland increased by 0.8% to GBP2.66 billion in the half-year from GBP2.64 billion, but like-for-like sales in the region fell by 0.7%. In France, total sales declined by 4.8% to GBP2.16 billion from GBP2.27 billion. Looking ahead, Kingfisher said its outlook remains mixed and highlighted continued uncertainty in consumer demand in the UK.
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FTSE 250 - WINNERS
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Games Workshop, up 2.8%. The table top games maker declared a 35 pence per share dividend and said it was trading in line with board expectations. At the company's annual general meeting on Wednesday, Chair Nick Donaldson stated Games Workshop is "trading is in line with the board's expectations", with cash generation also strong. The company declared a dividend of 35p per share, which "is in line with the company's policy to distribute truly surplus cash". This matches the 35p per share dividend declared at the company's 2018 AGM.
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FTSE 250 - LOSERS
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Sirius Minerals, down 14%. Shares in the fertiliser firm were down for second day in a row after news on Tuesday that it failed to carry out a crucial debt financing. The stock had shed 53% on Tuesday.
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Weir Group, down 3.0%. JPMorgan cut the oil pumps, valves and wellheads maker to Neutral from Overweight.
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OTHER MAIN MARKET AND AIM - LOSERS
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Pendragon, down 10%. The car dealer reported it swung to a first half loss due to "challenging" market conditions, skipping its interim dividend as a result, and said its non-executive chair will leave the company next month. Pendragon already was without a chief executive. In the six months to June 30, revenue fell by 0.8% year-on-year to GBP2.46 billion from GBP2.48 billion. The company made a pretax loss of GBP134.6 million, swung from a GBP27.3 million profit in the first half of 2018. The firm also opted not to pay an interim dividend this year, having made a 0.8 pence per share payout a year prior. Looking ahead, Pendragon now expects its underlying pretax loss to be at the bottom of internal expectations, though it does expects a "meaningful recovery" in profitability during the second half of 2019. The company said it has engaged in various "self-help" measures to improve performance.
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