LONDON (Alliance News) - The following stocks are amongst the biggest risers and fallers within the main London indices midday Friday.
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FTSE 100 WINNERS
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Friends Life Group, up 1.6%, Aviva, up 1.6%, and Admiral Group, up 1.0%. The insurers have high equity exposure and following two days of strong gains in equity markets in the UK, Europe and the US, their portfolio values will have increased.
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FTSE 100 LOSERS
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Taylor Wimpey, down 4.9%, Barratt Developments, down 4.3%, and Persimmon, down 4.0%. The housebuilders are down following downgrades from Jefferies. Taylor Wimpey was cut to Hold from Buy, Barratt was cut to Underperform from Buy, and Persimmon was downgraded to Underperform from Hold.
Old Mutual, down 1.3%. The investment, savings, insurance and banking group said it is buying a 23.3% stake in Kenya-based UAP Holdings Ltd, an East and Central African financial services company, for KES8.88 billion, or about USD97.6 million, part of its strategy to expand in Africa.
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FTSE 250 WINNERS
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Catlin Group, up 4.5%. New York-listed XL Group and Catlin Group said they've agreed the terms of a GBP2.79 billion deal that will see XL acquire its re-insurance peer. According to a joint-statement, Catlin shareholders are set to receive 388 pence and 0.130 new XL shares, plus an expected 2014 final dividend of 22 pence in cash to be paid by Catlin. This values Catlin at about 715.3 pence per share. Catlin currently trades at 690.5p.
Henderson Group, up 4.1%. JP Morgan has raised the investment manager to Overweight from Neutral, with a price target increase to 245.00 pence from 222.00p. The stock currently trades at 222.20p.
Restaurant Group, up 2.6%. The company said it full-year results will show "material growth" in both earnings and cash flow, boosted by revenue growth and new restaurant openings. Restaurant Group said revenue grew by 9.6% in the financial year ended December 28, 2014. Like-for-like sales rose 2.8% over the year, while the restaurant group ended the year strong, with like-for-like sales growth of 5% over the two-week Christmas trading period to January 4.
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FTSE 250 LOSERS
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Laird, down 5.9%. The electronics company said it is confident that its expectations for the financial year 2014 remain on track. "Execution of our strategy has delivered further good progress through the year, and we remain encouraged by the outlook for Laird," Chief Executive David Lockwood said in a trading update. Liberum said Laird is likely being held back by weakness at major customer Samsung.
Bellway, down 3.8%, Countrywide, down 3.7%, Rightmove, down 3.6%, Berkeley Group Holdings, down 3.4%, Redrow, down 3.0%, Bovis Homes Group, down 2.9%, and Crest Nicholson Holdings, down 2.8%. The property companies and housebuilders are trading lower following downgrades from Jefferies. The broker cut Bellway, Bovis, Countrywide and Crest Nicholson to Hold from Buy. Rightmove and Berkeley were both moved to Underperform from Hold.
Ashmore Group, down 3.7%. JP Morgan cut the company to Underweight from Neutral, with a price target cut to 270.00p from 295.00p. The stock currently trades at 264.60p.
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AIM ALL-SHARE WINNERS
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Fastjet, up 15%. The African low-cost airline said its Zambian arm has received confirmation from the country's Civil Aviation Authority that it has completed the first phase of its application for an air operating certificate. Fastjet said the completion of the first phase is a key step towards launching its service in Zambia. The next stage will allow Zambian authorities to assess Fastjet Zambia's planned company structure, examine its aircraft and approve its operational plan.
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AIM ALL-SHARE LOSERS
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ServicePower, off 8.2%. The software and services company said that it expects to swing to a net loss for 2014, as a result of lower revenue due to a delay in enterprise licence purchases and the company's shift away from a license sales dependent business model. It expects to post a net loss of GBP900,000, compared with a profit of GBP200,000 a year before, on revenue of GBP12.7 million, down from GBP14 million.
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By Neil Thakrar; neilthakrar@alliancenews.com
Copyright 2015 Alliance News Limited. All Rights Reserved.
UK earnings, trading statements calendar - next 7 days
Friday 21 April | |
Angle PLC | Full Year Results |
BHP Group Ltd | Trading Statement |
Lookers PLC | Full Year Results |
Monday 24 April | |
Brighton Pier Group PLC | Full Year Results |
CentralNic Group PLC | Trading Statement |
Checkit PLC | Full Year Results |
Egdon Resources PLC | Half Year Results |
Keystone Law Group PLC | Full Year Results |
Lok'n Store Group PLC | Half Year Results |
Novacyt SA | Full Year Results |
Tuesday 25 April | |
AB Dynamics PLC | Half Year Results |
Anglo American PLC | Trading Statement |
Associated British Foods PLC | Half Year Results |
Avacta Group PLC | Full Year Results |
Banco Santander SA | Q1 Results |
Card Factory PLC | Full Year Results |
Coca-Cola Europacific Partners PLC | Trading Statement |
Corero Network Security PLC | Full Year Results |
Dillistone Group PLC | Full Year Results |
Focusrite PLC | Half Year Results |
hVIVO PLC | Full Year Results |
IWG PLC | Trading Statement |
Jadestone Energy PLC | Full Year Results |
Next Fifteen Communications Group PLC | Full Year Results |
Northcoders Group PLC | Full Year Results |
Oxford BioMedica PLC | Full Year Results |
Petrofac Ltd | Full Year Results |
Quilter PLC | Trading Statement |
Resolute Mining Ltd | Trading Statement |
RWS Holdings PLC | Trading Statement |
Travis Perkins PLC | Trading Statement |
WAG Payment Solutions PLC | Trading Statement |
Whitbread PLC | Full Year Results |
Wednesday 26 April | |
1Spatial PLC | Full Year Results |
Biome Technologies PLC | Full Year Results |
Bunzl PLC | Q1 Results |
C4X Discovery Holdings PLC | Half Year Results |
CRH PLC | Trading Statement |
Ecora Resources PLC | Trading Statement |
Frenkel Topping Group PLC | Full Year Results |
Fresnillo PLC | Trading Statement |
Gem Diamonds Ltd | Trading Statement |
Glencore PLC | Trading Statement |
GSK PLC | Q1 Results |
Home REIT PLC | Half Year Results |
Learning Technologies Group PLC | Full Year Results |
Man Group PLC | Trading Statement |
Pennant International Group PLC | Full Year Results |
RBG Holdings PLC | Full Year Results |
Reckitt Benckiser Group PLC | Trading Statement |
Sanderson Design Group PLC | Full Year Results |
Skillcast Group PLC | Full Year Results |
Smith & Nephew PLC | Trading Statement |
Standard Chartered PLC | Q1 Results |
Trifast PLC | Trading Statement |
Warpaint London PLC | Full Year Results |
Thursday 27 April | |
AstraZeneca PLC | Trading Statement |
Barclays PLC | Q1 Results |
Brave Bison Group PLC | Full Year Results |
Capricorn Energy PLC | Full Year Results |
GCP Infrastructure Investments Ltd | Trading Statement |
Howden Joinery Group PLC | Trading Statement |
Inchcape PLC | Trading Statement |
Indivior PLC | Q1 Results |
Inspecs Group PLC | Full Year Results |
J Sainsbury PLC | Full Year Results |
Lancashire Holdings Ltd | Trading Statement |
Literacy Capital PLC | Trading Statement |
London Stock Exchange Group PLC | Trading Statement |
PPHE Hotel Group Ltd | Trading Statement |
Schroders PLC | Trading Statement |
Spectris PLC | Q1 Results |
St James's Place PLC | Trading Statement |
Synairgen PLC | Full Year Results |
Taylor Wimpey PLC | Trading Statement |
Unilever PLC | Trading Statement |
WPP PLC | Trading Statement |
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