UK WINNERS & LOSERS SUMMARY: Marks & Spencers Up After JPMorgan Raise

Fri, 06th Dec 2019 10:28

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

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FTSE 100 - WINNERS

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WPP, up 2.4%. The ad firm late on Thursday confirmed a shareholder return following its Kantar stake sale will come via a buyback. The initial tranche will be GBP250 million, out of a GBP950 million total.

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FTSE 100 - LOSERS

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BT Group, down 0.9%. UBS has cut its rating on the telecommunications firm to Sell from Neutral.

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FTSE 250 - WINNERS

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Marks & Spencer, up 3.1%. JPMorgan has raised the food and clothing retailer to Neutral from Underweight.

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OTHER MAIN MARKET AND AIM - WINNERS

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Chamberlin, more than doubled to 45.5 pence from 21.5p. The engineering firm has won contracts to supply flap valves and iron castings to the Thames Tideway tunnel project. Chamberlin said the contracts were of a size "very material" to the company.

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Ironveld, up 10%. The miner has appointed former RBC Capital Markets Managing Director Martin Eales as chief executive. He was CEO at London-listed Rainbow Rare Earths from 2014 to this year.

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i3 Energy, up 15%. The company expects subscriptions for a previously announced GBP5 million fundraise to close shortly, as it works on the Liberator field in the North Sea.

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Kibo Energy, up 20%. The firm has signed the first of a series of agreements to reorganise ownership of the Mabesekwa coal power project in Botswana. Kibo, which is "delighted" with progress being made, will hold 35% to 40% of the subsidiary owning the asset.

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By George Collard; georgecollard@alliancenews.com