(Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Monday.
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FTSE 100 - WINNERS
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BP, up 1.8%, Royal Dutch Shell 'A', up 1.3%, Shell 'B', up 1.1%. The oil majors were tracking spot oil prices higher, quoted at USD69.55 a barrel, up from USD68.11 late Friday. The North Sea benchmark touched an overnight high of USD70.72 - its highest level since May as tension rose between the US and Iran after the US's killing of Iranian general Qasem Soleimani in Baghdad on Friday. US President Donald Trump threatened "major retaliation" on Sunday if Iran avenges the killing of its key military commander. AJ Bell's Russ Mould said: "Oil prices are often a good barometer for the state of play in the Middle East, given how much of the black stuff is produced there, so it is unsurprising to see Brent crude trading at its highest level in several months above USD70 per barrel amid the escalating tensions in the region."
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Polymetal International, up 1.2%. The Russian gold miner was tracking spot gold prices higher, quoted at USD1,575.77 an ounce Monday, sharply higher from USD1,549.40 late Friday. The precious metal was trading at its highest levels since mid-2013 as the demand for safe haven assets increased. Midcap peers Fresnillo and Hochschild Mining were up 1.2% and 0.9% respectively.
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BAE Systems, up 1.2%. Shares in the defence company were higher amid the intensifying US-Iran tensions.
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FTSE 100 - LOSERS
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Hikma Pharmaceuticals, down 4.5%. JPMorgan downgraded the drugmaker to Underweight from Neutral.
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WM Morrison Supermarkets, down 3.5%. Bank of America Merrill Lynch cut the grocer to Underperform from Neutral.
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easyJet, down 2.5%, International Consolidated Airlines, down 4.0%, TUI, down 2.8%. The travel stocks were lower as the threat of war reduces the appetite for travel, while higher oil prices feed through to higher jet fuel costs for airlines.
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FTSE 250 - WINNERS
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Sirius Real Estate, up 2.0%. The Germany-focused commercial property investor said it has acquired two business parks for a combined EUR33.4 million. The Neuss II asset, located roughly 9.5 kilometres from the Dusseldorf city centre, offers 34,000 square metres of space and is 82% let. It complements Sirius Real Estate's existing assets in Dusseldorf, where it already owns two other business parks. In the Brandenburg region, the firm purchased the Neuruppin business parks, an asset with 22,400 square metres of lettable space. Neuruppin is fully-let to a single tenant, ESE GmbH, a waste and recyclables storage systems provider.
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FTSE 250 - LOSERS
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PageGroup, down 3.6%. The recruiter was cut to Hold from Buy by Jefferies.
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OTHER MAIN MARKET AND AIM - WINNERS
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Kefi Minerals, up 15%. The gold and copper explorer said the subscription agreement for its Tulu Kapi project in Ethiopia has been completed by its project partner ANS Mining. The government of Ethiopia is investing USD20 million into the project, with KEFI's partner ANS Mining providing USD38 million. The firm said the company operating the project, Tulu Kapi Gold Mines Share Co, will now receive the first tranche of ANS Mining funding of USD9.5 million. Based on already agreed upon financing, and last Friday's gold price of USD1,540 per ounce, Kefi estimates net cash flow over the life of the open pit will be USD433 million. The current net present value of the project - adding Friday's gold price to the definitive feasibility study - is USD323 million, meaning Kefi's 45% stake in the project is worth USD164 million.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
Hochschild (HOC)
International Airlines (IAG)
BP (BP.)
Hikma Pharmaceuticals (HIK)
Kefi Gold (KEFI)
Sirius Real Estate (SRE)
BAE Systems (BA.)
Fresnillo (FRES)
easyJet (EZJ)
TUI AG (TUI)
PageGroup (PAGE)