LONDON (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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Tesco, up 0.6%. Data from Kantar Worldpanel showed Tesco overtook rival J Sainsbury becoming the supermarket with the slowest sales decline among the big four UK grocers. In the 12 weeks ended May 22, UK supermarket sales rose by just 0.1% year-on-year, the same rise Kantar reported in the preceding 12-week period. Tesco posted the slowest sales decline out of the big four supermarkets, as sales fell by 1.0% in the period and its market share slipped to 28.3% from 28.6%. Wm Morrison Supermarkets followed in third place with a sales decline of 2.1%, while its market share decreased to 10.7% from 10.9%. Sainsbury's saw its sales fall by 1.2% in the latest 12 week period and its market share also slipped to 16.2% from 16.5%. Sainsbury's was down 1.6% and Morrisons was down 0.9%
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FTSE 100 - LOSERS
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Wolseley, down 6.5%. The plumbing and heating goods supplier said it saw "decent revenue growth" in the third quarter of its financial year, despite deflationary headwinds and mixed market conditions, although it noted that recent revenue growth trends have been weaker. The company posted revenue of GBP3.66 billion for the three months to April 30, an 11% increase from the GBP3.30 billion reported for the same period a year earlier, which drove trading profit up to GBP230.0 million from GBP195.0 million. "Demand in several of the group's markets remains subdued, and we continue to experience the adverse impact of commodity deflation, particularly in the US," Wolseley said. Liberum said the third quarter figures were strong but the market will be disappointed this hasn't continued into its fourth quarter.
Anglo American, down 3.4%, Antofagasta, 3.1%, Glencore, 3.1%, Rio Tinto, down 2.7%, BHP Billiton, down 2.7%. Mining stocks were lower after weak Chinese manufacturing data overnight. China's official manufacturing purchasing managers' index came in at 50.1 for May, unchanged from the reading in April. However, the Caixin manufacturing PMI stayed below the 50.0 mark, which separates expansion from contraction, for the 15th straight month. Markit said the index slipped to 49.2 in May from 49.4 in April and a touch lower than economists' expectations of 49.3.
Persimmon, 2.7%, Taylor Wimpey, 2.5%, Barratt Developments, down 2.5%, Berkeley Group Holdings, down 2.1%. Housebuilders were lower as UK house price inflation slowed more-than-expected in May to its lowest level in four months, survey figures from the Nationwide Building Society showed. The house price index rose 4.7% annually following 4.9% increase in April. Economists had forecast 4.8% gain. The latest figure was the lowest since January, when it was 4.4%. "In the near term, it's going to be difficult to gauge the underlying strength of activity in the housing market due to the volatility generated by the stamp duty changes which took effect from 1 April," Nationwide Chief Economist Robert Gardner said.
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FTSE 250 - WINNERS
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Cobham, up 1.0% at 164.60 pence. The aerospace and defence company set out the terms of its discounted, fully-underwritten rights issue, first announced in April with the aim of shoring up its finances. Cobham tabled plans for the rights issue in late April after issuing a profit warning for 2016 following weak trading in the first quarter. Cobham said it will launch a fully-underwritten, one-for-two rights issue to raise GBP506.7 million. The company will issue 569.3 million shares at 89.00 pence per share, a 45% discount to its closing price on Tuesday of 163.49p. Cobham said it intends to reduce its indebtedness with the proceeds from the rights issue and said the move will allow it to focus on its development programmes in order to insulate the business from short-term market challenges.
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FTSE 250 - LOSERS
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Halfords Group, down 5.6%. The bicycle and car parts retailer reported a fall in profit in its recently-ended financial year due to exceptional costs, and as the prior year benefited from an extra week, but revenue excluding that extra week increased due to growth in the autocentres division. The company said its pretax profit in the year ended April 1 fell to GBP79.8 million from GBP83.8 million the year before, as revenue slipped slightly to GBP1.02 billion from GBP1.03 billion. Halfords will pay a total dividend of 17 pence for the year, up from 16.5p the year before.
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MAIN MARKET AND AIM - WINNERS
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Pennant International Group, up 43%. The logistics support services company said its Pennant Training Systems subsidiary has secured two new contracts worth a total of GBP13.0 million. Both contracts are to supply equipment, hardware and software to support aeronautical engineering training in the Middle East. The two Middle Eastern clients awarding the contracts were not named. The deals are expected to run through to the end of 2017, Pennant said.
Northern Bear, up 11%. The building services company said earnings for its financial year to the end of March were in line year-on-year despite weather constraints. Northern Bear said the flooding which hit the north of England in late 2015, plus prolonged periods of high winds during the winter, seriously affected its ability to carry out site works, particularly for its roofing arm. Revenue will fall in the 2016 financial year, though net profit has been maintained by selectivity on contracts and eschewing lower-margin work. Northern Bear said its order book remains strong and the current financial year has started well. The group intends to raise its dividend payout for the 2016 financial year, having paid out 1.5 pence a year earlier.
Lamprell, up 4.3%. The energy services company said it has signed a joint development agreement with three major companies that may lead to a new maritime yard being developed by the group in Saudi Arabia. Lamprell signed the joint development agreement with Saudi Aramco, the National Shipping Co of Saudi Arabia, and Hyundai Heavy Industries following the memorandum of understanding signed between the group back in January. Saudi Aramco is the national oil company of Saudi Arabia, and the National Shipping Co is also known as Bahri.
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MAIN MARKET AND AIM - LOSERS
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Ascent Resources, off 29%. The oil and gas explorer's shares lost almost a third in value after it conducted a severely discounted placing that only raised enough funds to keep the company going until the end of September. Ascent aims to start delivering gas from its operations in Slovenia before the end of the year. The company conducted the share placing through online funding platform Primarybid.com, issuing 83.3 million new shares priced at just 0.2 pence each, more than a 76% discount to the company's closing share price on Tuesday. Shares in the firm were trading at 0.60p on Wednesday. The shares issued represent around 19.3% of the company's enlarged issued share capital, and the funds raised will keep the company going only until later this year, with Ascent hoping to find a solution to the problems it has encountered trying to secure a integrated pollution prevention & control permit for the gas treatment plant it wants to build in Slovenia.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun
Copyright 2016 Alliance News Limited. All Rights Reserved.
UK dividends calendar - next 7 days
Monday 6 May | |
no events scheduled | |
Tuesday 7 May | |
Begbies Traynor Group PLC | dividend payment date |
Ferguson PLC | dividend payment date |
Manchester & London Investment Trust PLC | dividend payment date |
Mobius Investment Trust PLC | dividend payment date |
Nexus Infrastructure PLC | dividend payment date |
Pebble Group PLC | dividend payment date |
Pinewood Technologies Group PLC | special dividend payment date |
Thungela Resources Ltd | dividend payment date |
Volution Group PLC | dividend payment date |
Wednesday 8 May | |
Melrose Industries PLC | dividend payment date |
Personal Group Holdings PLC | dividend payment date |
Thursday 9 May | |
Admiral Group PLC | ex-dividend payment date |
AG Barr PLC | ex-dividend payment date |
Aurora Investment Trust PLC | ex-dividend payment date |
Balanced Commercial Property Trust Ltd | ex-dividend payment date |
Bank of Ireland Group PLC | ex-dividend payment date |
Bellevue Healthcare Trust PLC | ex-dividend payment date |
Braime Group PLC | ex-dividend payment date |
Centaur Media PLC | ex-dividend payment date |
Chenavari Toro Income Fund Ltd | ex-dividend payment date |
Clarkson PLC | ex-dividend payment date |
Coca-Cola Europacific Partners PLC | ex-dividend payment date |
Custodian Property Income REIT PLC | ex-dividend payment date |
CVC Income & Growth Ltd EURO | ex-dividend payment date |
CVC Income & Growth Ltd GBP | ex-dividend payment date |
Domino's Pizza Group PLC | dividend payment date |
Epwin Group PLC | ex-dividend payment date |
F&C Investment Trust PLC | dividend payment date |
Fidelity Special Values PLC | ex-dividend payment date |
Focusrite PLC | ex-dividend payment date |
Grafton Group PLC | dividend payment date |
Gresham Technologies PLC | ex-dividend payment date |
Headlam Group PLC | ex-dividend payment date |
Henderson International Income Trust PLC | ex-dividend payment date |
HSBC Holdings PLC | ex-dividend payment date |
Ibstock PLC | ex-dividend payment date |
Invesco Perpetual UK Smaller Cos Investment Trust PLC | ex-dividend payment date |
JPMorgan Global Core Real Assets Ltd | ex-dividend payment date |
Lancashire Holdings Ltd | ex-dividend payment date |
LSL Property Services PLC | ex-dividend payment date |
M&C Saatchi PLC | ex-dividend payment date |
M&G PLC | dividend payment date |
Macfarlane Group PLC | ex-dividend payment date |
Marwyn Value Investors Ltd | ex-dividend payment date |
Midwich Group PLC | ex-dividend payment date |
Montanaro UK Smaller Cos Investments Trust PLC | dividend payment date |
Octopus Titan VCT PLC | ex-dividend payment date |
One Media iP Group PLC | ex-dividend payment date |
Petershill Partners PLC | ex-dividend payment date |
Picton Property Income Ltd | ex-dividend payment date |
PRS REIT PLC | ex-dividend payment date |
Reach PLC | ex-dividend payment date |
Sherborne Investors Guernsey C Ltd | ex-dividend payment date |
Sthree PLC | ex-dividend payment date |
Sylvania Platinum Ltd | ex-dividend payment date |
Taylor Maritime Investments Ltd | ex-dividend payment date |
Tracsis PLC | ex-dividend payment date |
Travis Perkins PLC | dividend payment date |
UIL Ltd | ex-dividend payment date |
Friday 10 May | |
AIB Group PLC | dividend payment date |
Alpha Group International PLC | dividend payment date |
Antofagasta PLC | dividend payment date |
Hammerson PLC | dividend payment date |
Hunting PLC | dividend payment date |
International Personal Finance PLC | dividend payment date |
Invesco Select Trust Global Equity Income PLC | dividend payment date |
Invesco Select Trust UK Equity PLC | dividend payment date |
Johnson Service Group PLC | dividend payment date |
Kerry Group PLC | dividend payment date |
Moneysupermarket.com Group PLC | dividend payment date |
Schroder Asian Total Return Inv Co PLC | dividend payment date |
Schroder European Real Estate Investments Trust PLC | dividend payment date |
Schroder Oriental Income Fund Ltd | dividend payment date |
Serco Group PLC | dividend payment date |
Smurfit Kappa Group PLC | dividend payment date |
Somero Enterprises Inc | special dividend payment date |
Taylor Wimpey PLC | dividend payment date |
Tufton Oceanic Assets Ltd | dividend payment date |
VPC Specialty Lending Investments PLC | dividend payment date |
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