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Pin to quick picksZenith Energy Share News (ZEN)

Share Price Information for Zenith Energy (ZEN)

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Share Price: 1.90
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UK WINNERS & LOSERS SUMMARY: Pets At Home Up 15% On June Sales Bounce

Fri, 31st Jul 2020 11:28

(Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Friday.

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FTSE 100 - LOSERS

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International Consolidated Airlines Group, down 9.4%. Swung to a loss in its first half due to Covid-19 travel restrictions, confirmed a EUR2.75 billion equity raise, and picked a new chair. Revenue for the three months to June 30 was GBP703 million, plunging 89% year-on-year from GBP6.73 billion. Pretax loss for the quarter was GBP2.32 billion, swinging from a profit of GBP921 million. For the six months to June, pretax loss was EUR4.21 billion, swinging from a profit of GBP1.01 billion the year prior. Revenue in the half-year dropped to EUR5.29 billion from GBP12.03 billion. Confirmed plans to raise EUR2.75 billion from a pre-emptive share subscription and largest shareholder Qatar Airways backs proposal. Chair Antonio Vazquez - who reached nine years in office last January - will retire early January 2021. He will be succeeded by Independent Director Javier Ferran.

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BT Group, down 3.5%, first quarter earnings suffered from a lack of live sport and the telecommunications firm forecasts a fall in annual revenue. In the three months to June 30, BT's revenue fell 6.8% to GBP5.25 billion and its pretax profit fell 13% to GBP561 million. Forecasts adjusted revenue to fall between 5% and 6%. Adjusted earnings before interest, tax, depreciation and amortisation are expected between GBP7.2 billion and GBP7.5 billion, at best a 5.1% decline. Rob Shuter, outgoing chief executive officer of Johannesburg-listed telecoms firm MTN Group Ltd, is named as the new head of the BT Enterprise business communications unit.

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FTSE 250 - WINNERS

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Pets At Home, up 15%, total revenue in the first quarter ended July 16 was down 1.0%, but the pet care supplies firm saw like-for-like sales bounce toward the end of the quarter. In the four weeks to June 19, like-for-like sales were up 15%, recovering from a 23% fall in the four weeks to March 27.

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FTSE 250 - LOSERS

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Petropavlovsk, down 5.7%, 31%-owned investee IRC reports 8.1% quarter-on-quarter improvement in iron ore concentrate production. Sales rise 8.5%. For the first half, Output rose 14% year-on-year, with sales up 12%. On Thursday, proxy advisor recommended Petropavlovsk shareholders vote in favour of the board recommendations of 20% shareholder Prosperity Capital Management and against those of 7.5% holder Everest Alliance Ltd.

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OTHER MAIN MARKET AND AIM - WINNERS

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Thor Mining, up 31%, reports "visible" gold from samples of Pilbara tenements, Western Australia. "To find visible gold in multiple sites in very close proximity to previous gold samples is very encouraging," notes Executive Chair Mick Billing.

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Tiziana Life Sciences PLC up 14%, submits patent application for nasal administration of Foralumab, a potential treatment for Covid-19 patients.

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Reneuron Group up 13%, after cell-based therapeutics firm granted a patent by US Patent & Trademark Office. Patent relates to its hRPC cell-based therapeutic candidate aiming to treat retinal diseases.

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OTHER MAIN MARKET AND AIM - LOSERS

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Coro Energy, down 17%, Asia-focused upstream oil and gas firm reports termination of agreement with Zenith Energy for proposed sale of Coro's Italian portfolio. Coro will continue to "prioritise" the divestment of non-core Italian operations. Zenith shares are down 7.9%

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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IN BRIEF: Zenith Energy Completes GBP604,000 Private Placing In Norway

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IN BRIEF: Zenith Energy Pulls Out Of Coro Italian Portfolio Deal

IN BRIEF: Zenith Energy Pulls Out Of Coro Italian Portfolio Deal

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