TMMG.L Share News (TMMG)

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Thursday.
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FTSE 100 - WINNERS
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Ashtead Group, up 3.7%. The equipment rental company was trading after after US peer United Rentals affirmed its outlook for 2016 following a strong second quarter, sending its shares higher on Wednesday. Ashtead's shares often move based on trading updates from United Rentals due to Ashtead's high exposure to the US market through its Sunbelt business.
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FTSE 100 - LOSERS
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easyJet, down 5.0%. The low-cost carrier reported a fall in revenue in the third quarter of its financial year as flight cancellations resulting from terrorist attacks, bad weather and air traffic control strikes offset a rise in seat capacity. easyJet said total revenue in the quarter ended June 30 fell by 2.6% year-on-year to GBP1.20 billion, as revenue per seat declined by 7.7% to GBP54.54, despite the number of passengers carried rising by 5.8% to 20.2 million and load factor increasing by 0.3 percentage point to 92%. Iberia and British Airways parent International Consolidated Airlines Group was also down 3.4% and mid-cap central and eastern Europe-focused airline Wizz Air Holdings was down 4.3%. Irish carrier Ryanair Holdings also sunk, down 4.6%.

Land Securities Group, down 1.7%. The commercial property investor said it anticipates uncertainty in the business world will persist until some clarity emerges on a post-Brexit UK. Robert Noel, the chief executive of the FTSE 100 constituent, speaking ahead of Land Securities' annual general meeting, said that until clarity is provided on the timing and terms of the UK's exit from the European Union, uncertainty will persist. He added he anticipates this could "take some time".
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FTSE 250 - WINNERS
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AO World, up 9.0%. The online household appliance retailer said it remains on track with its "long-term strategic plan" after a positive first quarter ended June 30. Year-on-year growth in AO branded UK sales were up 29%, and total UK revenue growth was up 25%. AO World said this was driven predominantly by "improving brand recognition". The company said "momentum" in the UK continued during its first quarter, particularly with gross margin and marketing costs. In Europe, the online retailer said progress was "pleasing". Revenue in euros doubled year-on-year, with "further advances" made in gross margins. AO World's expectations for the business in Europe over the financial year remained unchanged as a result.

William Hill, up 3.1%. The bookmaker said said Chief Executive James Henderson has stepped down from his role with immediate effect. Chief Financial Officer Philip Bowcock will step in as interim CEO, William Hill said, adding it has started a search for a permanent replacement for Henderson. Henderson took up the role of chief executive in August 2014. William Hill added trading remains in line with its expectations.

Close Brothers Group, up 1.9%. The financial services company said trading in the five months to the end of June was in line with its expectations. The company said it remains confident it will deliver a "solid" result for the year to the end of July 31. It will publish annual results on September 27. Close said its banking arm has continued to show good growth, with its overall loan book up 7.2% in the five-month period and up 12% for the eleven months to the end of July. Trading for the Winterflood securities business has continued to improve and was helped by the increase in trading volumes in the wake of the UK's decision to leave the European Union.

Euromoney Institutional Investor, up 1.5%. The business publisher said trading has been in line with its expectations in the third quarter, with no significant impact from Brexit. The group said revenue in the quarter to the end of June fell 1.0% year-on-year to GBP104.7 million. Though Euromoney benefited from dollar strength against sterling following the Brexit vote, this was offset by lower revenue from the disposal of its Gulf Publishing and Petroleum Economist titles in April. Underlying revenue, stripping out currency effects and disposals, fell 1.0% in the quarter, an improvement on the 6.0% decline reported in the first half.
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FTSE 250 - LOSERS
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CMC Markets, down 2.6%. The online retail trading firm said it does not anticipate a disruption to its business from the UK leaving the European Union, as it said it continued to make good progress in the first quarter. CMC said it saw continued robust levels of active clients and client applications in the first quarter to the end of June. Active clients at the end of June increased 13% year-on-year. The value of client trades, however, was lower in the quarter, in particular in the lead-up to the EU referendum in the UK. This resulted in a "moderate" fall in revenue per active client year-on-year.
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MAIN MARKET AND AIM - WINNERS
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Mission Marketing Group, up 11%. The marketing and advertising firm said it anticipates double-digit growth in profit and revenue for the first half. Mission expects profit and revenue in the half to the end of June will grow by double-digit percentages year-on-year, benefiting from organic growth and acquisitions made in the second half of 2015. The group also anticipates further progress in the second half and said its results will be second-half weighted.

7Digital Group, up 7.3%. The digital music platform said it is confident of meeting its expectations for the full year following a positive first half trading update. Total monthly recurring revenue for the first half rose by 4% year-on-year. Licensing revenue in June rose by 17% compared to the year before. 7digital additionally expects a debt repayment of GBP818,000 from music streaming service Guevara Ltd to be paid over the next 8 months. The company also said it won contracts worth a combined value of GBP1.1 million in the second quarter, demand coming both from both new and existing customers, which should help the company reach its full year expectations.
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MAIN MARKET AND AIM - LOSERS
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Osirium Technologies, down 15%. The cyber security software provider said its pretax loss widened in the first half of its financial year on lower revenue, listing costs, and investments made in the business. Osirium said its pretax loss for the half to the end of April was GBP512,769, widened from a GBP373,033 loss a year prior. Revenue fell to GBP162,000 from GBP175,000, hit by a sharp decline in professional services sales which offset higher revenue for software-as-a-service products. The company floated on AIM in April, raising GBP5.1 million, which it has used to hire new staff, increase marketing activity and invest more in research and development.

WH Ireland Group, down 9.1%. The wealth manager and corporate broker said it swung to a loss in the first half of its financial year, as revenue sank. The company said it made a pretax loss of GBP1.8 million in the half year to the end of May, compared to a GBP593,000 profit a year earlier. Revenue shrivelled to GBP12.0 million from GBP15.9 million. This was caused by a decline in transactional income, which WH Ireland Chairman Tim Steel said was due to a "moribund" UK stock market, pressured by fears over Chinese economic growth, commodity price deflation and, latterly, the UK's EU referendum.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun

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