UK WINNERS & LOSERS: Gowin Rockets On Funding Agreement

LONDON (Alliance News) - The following stocks are amongst the biggest risers and fallers within the main London indices midday Tuesday.
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FTSE 100 WINNERS
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Experian, up 3.5%. The company said it will buy USD600 million worth of shares over the next 14 months, pledging to return surplus capital to shareholders from time to time, as the information services company outlined its strategy to analysts and investors in London. Experian said its "aspiration" is to deliver annual average growth in organic revenue in the mid-single digit range.

Anglo American, up 2.0%. The miner warned that there will be impairment charges for its 2014 financial year while it reported a 10% increase in iron ore production from its Kumba project in the fourth quarter ended December 31 to 12.4 million tonnes from 11.3 million tonnes in the third quarter. Production increased due to the implementation of a production recovery plan, it said.

ARM Holdings, up 1.8%. The chip designer's shares have risen after Apple said its first quarter profit rise 38%, driven by all-time record revenue from iPhone and Mac sales as well as a record performance from its App Store.

Severn Trent, up 1.5%. The group launched a GBP100 million buyback programme and joined peers in linking its dividend growth in coming years to retail price index inflation, after it accepted the UK water regulator's final determination on the pricing regime for the next five years. It said that it will now manage its existing debt portfolio as well as any future debt issuance by increasing the proportion which is held at floating rates.

Capita, up 1.1%. The company said it has won the race to buy Constructionline from the UK government's Department for Business, Innovation and Skills in a GBP35 million, cash-free and debt-free basis. Capita added it intends to invest in the business with an initial focus on the construction market, but with a view to expanding its services into other sectors. It will invest in a new IT system for the business as part of these plans.

Pearson, up 0.7%. Citigroup raised the group's price target to 1,550p from 1,350p, keeping its rating at Buy. Later in the morning, Sky News reported that Chairman Glen Moreno is preparing to leave the company later this year.

Mondi, up 0.6%. Deutsche Bank has raised the company's price target to 1,320 pence from 1,260p, keeping its rating at Buy.
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FTSE 100 LOSERS
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Johnson Matthey, down 5.5%. The company stuck with its full-year guidance, after reporting a 1% increase in its pretax profit before exceptional items in the third quarter of its financial year, buoyed by strong sales from its emission control technologies business. Sales rose 5% to GBP745 million, from GBP708 million a year earlier, with growth in emission control technologies and new businesses offsetting declines in precious metal products and fine chemicals.

Sage, down 3.1%. S&P capital IQ has raised the company's price target to 420p from 360p, placing its rating at Sell. Earlier in the morning, the group said it remains on track to achieve its targeted 6% organic revenue growth and 28% operating margin in its current financial year, with revenue growth weighted towards its second half, after its revenue rose 5.3% in its first quarter on the year before.

Antofagasta, down 2.7%. The miner said gold and copper production increased in the fourth quarter, but full-year production decreased and it warned that gold production will decrease further in 2015. Full-year copper production dropped by 2.3% to 704,800 tonnes, mainly caused by lower grades at Los Pelambres, while gold production for the full year was down to 270,900 ounces in 2014 from 293,800 ounces a year earlier, mainly reflecting lower grades.

Intercontinental Hotels Group, down 2.0%. Deutsche Bank has cut the company's rating to Hold from Buy, raising its price target to 2,770p from 2,365p.

Tullow Oil, down 1.3%. HSBC has cut the group's price target to 439p from 675p.

Reed Elseevier, down 1.2%. Citigroup has cut the company's rating to Neutral from Buy, whilst raising its target price to 1,240p from 1,100p.

Rolls Royce Holdings, down 1.1%. UBS has cut the company's price target to 1,055p from 1,100p, whilst keeping it at Buy.

WPP, down 1.1%. Citigroup has cut the group's rating to Neutral from Buy, whilst raising its target price to 1,520p from 1450p.
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FTSE 250 WINNERS
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Crest Nicholson, up 5.6%. Barclays has raised the group's price target to 445p from 432p while Goldman has cut its target price to 570p from 598p, placing it in its "Conviction Buy List".

Intermediate Capital Group, up 4.5%. The company reported an 8% increase in total assets under management over the course of the third quarter, as new third party money raised more than realisations, while it also said it is working on improving returns and taking action on its balance sheet.

Saga, up 3.0%. The group said it has struck a deal to buy motorbike insurer Bennetts for GBP26.3 million in cash. The company will buy Bennetts, which provides motorbike insurance to more than 200,000 customers, from owner BGL Group.

Cairn Energy, up 1.8%. HSBC has raised the company's price target to 370p from 337.
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FTSE 250 LOSERS
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Rightmove, down 3.4%. Panmure has cut the company's rating to Sell from Buy while Citigroup has cut its price target to 2,115p from 2,175p, keeping it at Sell.

Zoopla Property Group, down 1.5%. Panmure has initiated the company's rating at Sell, with a price target of 130p.
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AIM ALL-SHARE WINNERS
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Gowin New Energy Group, up 141.2%. The company said it has secured GBP1.2 million in funding, comprising a GBP600,000 share placing and a GBP600,000 convertible loan. The group added it has reached an agreement with Choice Only International Ent Co Ltd, a Taiwan-based digital storage devices company, under which Choice will conditionally subscribe to 30 million shares in Gowin at 2 pence per share.

Serabi Gold, up 16.0%. The company said it has finished sampling veins and received assay results for the Sao Chico gold mine in northern Brazil, resulting in a "drilled resource approaching one ounce per tonne."

EFK Diagnostics Holdings, up 14,5%. The biotechnology company said it expects its results for 2014 to be at the higher end of its previous guidance, after a strong second half. The biotechnology company said it expects to post adjusted earnings before interest, tax, depreciation and amortisation of GBP6.3 million from GBP4.8 million, on revenue of around GBP40.1 million, up from GBP31.8 million a year before. Its adjusted figure excludes exceptional items and share-based payments.

Blur Group, up 8.6%. The company said project bookings on its Global Services Exchange more than doubled in 2014 to USD49.1 million, compared with USD22.2 million in 2013. Project bookings in the second half of 2014 were up to USD33.1 million, from USD17.0 million a year earlier, and around 40% of these bookings came from what it calls 'enterprise' customers, meaning those with revenue greater than USD500 million per year.

Staffline Group, up 8.4%. The company posted a rise in 2014 pretax profit and revenue and said it remains on track for its revenue targets for 2017. The group, which provides staffing, outsourcing and training services, said its pretax profit for the year to December 31 was GBP10.5 million, up from GBP8.6 million a year earlier, as revenue rose 21% to GBP503.2 million from GBP416.2 million.

Oxus Gold, up 7.8%. The company's shares are up after it raised GBP130,000 through a share subscription by Darwin Strategic Ltd and said both parties had agreed to terminate an equity funding agreement they had. Oxus Gold said it has issued Darwin with nearly 5.9 million shares at 2.39 pence a share under the terms of the equity financing facility agreement, which the parties have now agreed to terminate.

Songbird Estates, up 7.3%. The property group reluctantly recommended the takeover offer from Qatar Investment Authority and Brookfield Property Partners LP on Wednesday after conceding the bid, which it consistently has said undervalues the company, is understood to have secured support from its major shareholders.
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AIM ALL-SHARE LOSERS
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Bagir Group, off 28%. The maker of formal wear like suits warned that 2014 operating earnings will be slightly below expectations after it suffered an exchange rate hit, and it launched a two-year "recovery plan".

Mosman Oil, down 26.9%. The company reported a wider net loss for the first half of its financial year due to significant increases in consulting fees, travel expenses and share-based payments to staff. For the first half ended December 31, Mosman, which does not generate any revenue, reported a net loss of USD1.9 million, significantly wider than the USD439,465 loss reported in the first half of 2013.
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By Daniel Ruiz; danielruiz@alliancenews.com;

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