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Pin to quick picksVictoria Share News (VCP)

Share Price Information for Victoria (VCP)

London Stock Exchange
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Share Price: 182.00
Bid: 181.00
Ask: 183.60
Change: 8.80 (5.08%)
Spread: 2.60 (1.436%)
Open: 171.20
High: 183.60
Low: 171.00
Prev. Close: 173.20
VCP Live PriceLast checked at -

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UK WINNERS & LOSERS: Countrywide, St Modwen Gain On Buyback, Outlook

Wed, 01st Oct 2014 10:11

LONDON (Alliance News) - The following stocks are among the biggest risers and fallers within the main London indices late-morning Wednesday.
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FTSE 100 WINNERS
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Royal Mail, up 3.4%. The postal services group was upgraded to Neutral from Sell by UBS. Although there are many challenges facing the company, particularly a highly unionised work force during a time of change in the industry, UBS says that this is already reflected in the current share price. Along with the upgrade, the bank reduced its price target to 400p from 450p. Royal Mail closed Tuesday at 392.2p.
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FTSE 100 LOSERS
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Morrisons, down 4.4%; Sainsbury's, down 3.7%; Tesco, down 2.9%. The bad news just keeps coming for the supermarkets. Sainsbury's Wednesday cut its like-for-like sales forecast for the second half of the year, after it said trading in the second quarter slumped. The supermarket also admitted that the sector is going through a big change as consumer shopping habits have shifted and price deflation has set in. Chief Executive Mike Coupe told journalists Wednesday the UK grocery market is facing its most challenging times in his 30 years in the industry. "Customers now have more choice than they have ever had before, and they are shopping around now more than ever before," he said. On top of that, Tesco has said that it is under investigation by the UK Financial Conduct Authority following last week's admission that it found a GBP250 million black hole in its first half profit estimates.

BG Group, down 3.4%; Tullow Oil, down 1.4%. The oil producers are underperforming after the price of Brent oil fell to a fresh two-year low overnight, reaching USD94.24 a barrel.
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FTSE 250 WINNERS
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Countrywide, up 6.3%. The estate agent said it has decided to accelerate its capital returns policy and will Wednesday commence a share repurchase programme for up to GBP20 million. The company said it continues to target a dividend of between 35% and 45% of 2014 reported group profits after tax but before any amortisation.

St Modwen Properties, up 3.0%. St Modwen said it expects pretax profit for the full year to November 30 to be "materially ahead" of 2013, having increased beyond existing market consensus. The company, which specialises in regenerating brownfield land across the UK, said improvement in the commercial property market continues to "gather momentum", and there is a noticeable acceleration in tenant enquiries across its sites, while occupancy levels remain high.
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FTSE 250 LOSERS
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UBM, down 4.4%. The publishing company said it will acquire events and marketing business VSS-AHC Consolidated Holdings Corp, also known as Advanstar Communications, for a total of USD972 million. The acquisition will be funded via a new USD100 million bridge facility and a GBP563 million rights issue to be launched in November. UBM plans to host a markets day ahead of the rights issue, where Chief Executive Tim Cobbold will set out its strategy for growth.

Zoopla Property Group, down 2.8%. Shares of the property search website company, which only joined the FTSE 250 two weeks ago, have seen a little softness after Goldman Sachs initiated analyst coverage on the stock with a Neutral rating and a price target of 242p. Zoopla shares closed Tuesday at 236.6p.
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AIM ALL-SHARE WINNERS
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Graphene Nanochem, up 16%. The speciality chemicals company said it has received its second commercial order for the PlatQuartZ Series oilfield chemicals product. The new order, valued at USD5.6 million, was made by Scomi Oiltools Sdn Bhd for dispersion into water and oil-based drilling systems and deployment to an unnamed national oil company. The second order is for 2,640 drums of the chemical, representing a six-fold rise on the first commercial order of 380 drums, Graphene said.

Victoria, up 15%. The carpets and floor-coverings manufacturer said it has issued 100,000 new shares at 323.5 pence a share to various sellers of the Abingdon Flooring business it recently acquired. In a statement, the carpets and floor-coverings manufacturer said the shares were not part of the consideration it paid for Abingdon, but were being taken as an investment by the various sellers, "reflecting their confidence in the future of the company". The shares were issued at Wednesday's closing price of 323.5p. Cantor Fitzgerald is encouraged by the recent acquisition and has raised its price target on the stock by 45% to 420p from 290p.
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FTSE ALL-SHARE LOSERS
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London Mining, down 23%. The mining group's shares are heavy fallers for the third consecutive day after it raised financing concerns Monday, saying that it does not have sufficient liquidity to continue trading without further financing.

Ferrum Crescent, down 14%. The South Africa iron ore developer reported a wider pretax loss of USD2.6 million for the year ended June 30, compared with the USD1.9 million loss a year earlier, as revenue, which comes from interest received, fell to USD35,844, from USD86,285. It also booked a USD304,600 loss resulting from a re-measurement of its assets and liabilities, compared with a USD608,414 gain in fiscal 2013.

Blinkx, down 14%. The online video advertising company has seen its shares fall as it warned that revenue had continued to slow in its second quarter. As a result of this slowdown, Blinkx now expects revenue in the half year to end-September to be between USD102 million to USD104 million, lagging behind USD111.6 million a year before. It said it expects its earnings before interest, tax, depreciation, amortisation, acquisition charges and exceptional costs to be approximately break even.
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By Jon Darby; jondarby@alliancenews.com; @jondarby100

Copyright 2014 Alliance News Limited. All Rights Reserved.

More News
28 Mar 2024 08:28

IN BRIEF: Victoria appoints Roberto Moreno as chief strategy officer

Victoria PLC - Kidderminster, England-headquartered designer, manufacturer and distributor of flooring - Last week Thursday, announces appointment of Roberto Moreno as chief strategy officer. Moreno has 16 years of experience in banking, investing, mergers & acquisitions and corporate value creation and has led Victoria's acquisition-based growth in North America, the company says. Chair Geoff Wilding says: "His leadership and expertise will play a crucial role in advancing our strategic initiatives and operational excellence projects - further solidifying our position as a leader in the global flooring industry."

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21 Mar 2024 11:44

Victoria promotes Roberto Moreno to group strategy chief

(Sharecast News) - Flooring specialist Victoria announced the appointment of Roberto Moreno as its new group chief strategy officer and principal duty manager on Thursday.

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14 Mar 2024 12:50

Berenberg halves target price on Victoria

(Sharecast News) - Analysts at Berenberg slashed their target price on floorings manufacturer Victoria from 600.0p to 300.0p on Thursday but reiterated their 'buy' rating on the stock.

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14 Mar 2024 09:51

LONDON BROKER RATINGS: Kepler Cheuvreux likes Diageo; BofA lifts Man

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:

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13 Mar 2024 13:53

Victoria says little interest from holders hits bond repurchase aim

(Alliance News) - Victoria PLC on Wednesday said it seeing signs of flooring demand perking up and explained that it plans to buyback GBP25 million in shares.

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13 Mar 2024 11:58

Victoria sees some positive signs in subdued market

(Sharecast News) - Flooring company Victoria said in a trading update on Wednesday that, despite ongoing challenges in the market, it was seeing signs of improvement in the medium-term macroeconomic outlook, particularly in flooring demand indicators.

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22 Nov 2023 11:41

Victoria reports weaker first half, as expected

(Sharecast News) - Flooring firm Victoria reported a first-half outcome on Wednesday that aligned closely with its expectations.

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22 Nov 2023 10:36

Victoria swings to first half loss but stresses margin improvement

(Alliance News) - Victoria PLC on Wednesday said it swung to a loss in the first half of its financial year, tracking falling revenue, although it stressed it is delivering against its strategy of margin enhancement.

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22 Nov 2023 09:48

LONDON BROKER RATINGS: RBC cuts HSBC; Liberum cuts Glencore

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

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6 Nov 2023 15:17

UK shareholder meetings calendar - next 7 days

Tuesday 7 November 
Time Finance PLCAGM
Murray Income Trust PLCAGM
Wednesday 8 November 
Incanthera PLCAGM
JPMorgan Emerging Markets Investment Trust PLCAGM
Thursday 9 November 
D4t4 Solutions PLCGM re name change to Celebrus Technologies PLC
Libertine Holdings PLCAGM
SIMEC Atlantis Energy LtdEGM re appointment of Nexia Singapore PAC as auditors
Friday 10 November 
DFS Furniture PLCAGM
Galliford Try Holdings PLCAGM
Minoan Group PLCAGM
Minoan Group PLCGM re issuing shares
Quartix Technologies PLCAGM
Redrow PLCAGM
Monday 13 November 
Ironveld PLCGM re fundraising
Victoria PLCGM re annual accounts and Grant Thornton UK LLP re-appointment as auditors
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

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5 Oct 2023 12:13

Victoria credit ratings reaffirmed by Fitch

(Sharecast News) - Flooring firm Victoria announced on Thursday that Fitch had affirmed its credit rating on the company, verifying the long-term issuer default rating (IDR) at 'BB-' and maintaining a stable outlook.

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5 Oct 2023 10:03

IN BRIEF: Fitch affirms Victoria's credit rating and stable outlook

Victoria PLC - Kidderminster, England-headquartered designer, manufacturer and distributors of flooring - Notes that credit rating agency Fitch Ratings has affirmed its long-term issuer default rating at 'BB-' with a stable outlook. Also affirms its senior secured notes at 'BB+' with a recovery rating of 'RR2'.

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29 Sep 2023 12:21

Victoria says "no wrong-doing" as auditor comment overshadows results

(Alliance News) - Victoria PLC on Friday said there was "no wrong-doing whatsoever" at its Hanover Flooring unit after comments from its auditor marred the firm's annual results.

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29 Sep 2023 11:42

Victoria describes solid year, reassures over accounting concern

(Sharecast News) - Victoria described a year of success in a trading update on Friday, briefly overshadowed by accounting concerns at a small subsidiary.

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29 Sep 2023 08:44

LONDON MARKET OPEN: Stocks rise as UK recession looks "unlikely"

(Alliance News) - Stock prices in London opened higher on Friday as fresh data painted a slightly brighter picture for the UK economy.

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