(Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Thursday.
----------
FTSE 100 - WINNERS
----------
Lloyds Banking Group, up 4.5%, Barclays, up 3.2%, and NatWest, up 2.2%. The UK banks were higher on hopes that a UK-EU Brexit deal is imminent. Talks in Brussels were focused on the details of fishing rights but both sides have indicated a Christmas Eve deal will be announced, bringing an end to months of wrangling just a week before current trading arrangements expire.
----------
OTHER MAIN MARKET AND AIM - WINNERS
----------
Coral Products, up 63%. The plastics manufacturer and distributor said it has entered into a share purchase agreement for the sale of Coral Products Mouldings and Interpack to One51 ES Plastics UK for GBP7.9 million. Coral Products Mouldings is a manufacturer and distributor of plastic injection, extruded and blow moulded products, and Interpack is a food packaging distributor. Coral said it will continue to hold the freehold for the Haydock site from which Coral Products Mouldings operates and intends to enter into a 10-year lease with One51 at an annual rent of GBP300,000 with a 5-year break clause and a rent review after 5 years. Coral Products said that as part of the sale agreement, Chief Executive Michael Wood will resign from the board to join One51. Current Non-Executive Chair Joseph Grimmond will be made executive chair.
----------
Hargreaves Services, up 6.9%. The diversified industrial and property services group said it has sold its entire inventory of specialty coal to its German joint venture HMRS for GBP24 million. Hargreaves currently holds a 50% stake in HRMS but holds an 86% economic interest. Hargreaves expects the sale to provide a springboard for HMRS to establish trading relationships with major UK purchasers. Durham, England-based Hargreaves said its remaining coal stocks are now made up of heavy industrial coal, which is expected to be sold to third parties over the remainder of its current financial year ending May 31. Looking ahead, the company expects to have no coal inventory by the end of its financial year. Hargreaves also has already entered a sales agency agreement by which it will market and arrange for the sale of the coal inventory on behalf of HMRS on a commission basis.
----------
By Lucy Heming; lucyheming@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
Barclays (BARC)
Hargreaves Serv (HSP)
Coral Products (CRU)
Natwest (NWG)
