WINNERS & LOSERS SUMMARY: Reckitt Rises After Lifting Revenue Target

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Friday.----------FTSE 100 - WINNERS----------Reckitt Benckiser, up 6.8%. The household goods firm raised its revenue targets for the full year as it reported a surge in top line numbers buoyed by its acquisition of baby formula maker Mead Johnson Nutrition. For the half year ending June 30, pretax profit grew to GBP1.11 billion from GBP1.02 billion a year before, as net revenue rose 23% to GBP6.14 billion from GBP5.02 billion. As such, Reckitt raised its annual net revenue growth expectations to between 14% to 15%, higher than its previous target of 13% to 14%. Moreover, full year like-for-like sales growth is also expected to come in at the higher end of the company's 2% to 3% range.----------BHP Billiton, up 3.8%. The Anglo-Australian miner said it has entered into agreements to sell its entire interest in its onshore US assets for USD10.80 billion - with oil major BP buying a large chunk of those interests - eyeing a distribution to shareholders with the proceeds. The assets comprise BHP's Eagle Ford, Haynesville, Permian and Fayetteville oil and gas interests. BP will pay USD10.50 billion for this in cash, one half due at completion with the deferred consideration payable in six equal instalments over a six-month period, commencing one month after completion. BP shares were down 1.0%. ----------BT Group, 3.4%. The telecommunications company reiterated its annual earnings expectations, as it reported a sharp rise in first quarter pretax profit due absence of large expenses. BT also said that its mobile phone operating unit, EE, will launch UK's first live 5G trail network in east London in October and the transformation of the group's operating model remains on track. For the three months to June-end, BT reported pretax profit of GBP704 million, up from GBP418 million in the year ago period, on a revenue of GBP5.72 billion and GBP5.84 billion, respectively. Adjusted pretax profit rose 3% to GBP816 million.----------Pearson, up 3.3%. The education publisher said it still expects underlying growth in the year despite its first half revenues dropping. In the six months ended June, Pearson posted a 9% drop in revenue to GBP1.87 billion from GBP2.05 billion the year before. Currency movements decreased revenues by GBP128 million. In underlying terms, however, Pearson said its revenues grew 2%. This growth was driven by improved performances in its US Higher Education Courseware, Online Program Management, Connections Academy, Professional Certification and Pearson Test of English Academic divisions. Pearson's first half pretax profit multiplied to GBP202 million from a GBP10 million loss last year.----------FTSE 100 - LOSERS----------Rightmove, down 3.0%. The property portal said that its interim revenue increased 9.7% against a tough UK property market backdrop. For the six months to June 30, the company behind the rightmove.co.uk property portal, posted revenue up to GBP131.1 million from GBP119.5 million reported in the same period a year ago. Pretax profit for the period widened to GBP98.1 million compared to GBP87.5 million posted a year ago. In relation to Brexit, the company said the decision to leave the EU increased the macroeconomic uncertainty in the housing market leading to fewer transactions. The stock was cut to Reduce from Hold by Peel Hunt. ----------FTSE 250 - WINNERS----------Equiniti Group, up 16%. The technology outsourcer said it was "pleased with performance in the first half", and expects full-year earnings to be towards the top end of market expectations which see Ebitda between GBP116 million and GBP122.9 million. For the half-year to June-end, revenue for the interim period jumped 30% to GBP254.0 million from GBP194.8 million. Adjusted earnings before interest, taxes, depreciation and amortisation reached GBP55.0 million from GBP41.8 million a year ago. The company lifted its interim dividend by 12% to 1.83 pence per share from 1.64p paid a year ago. ----------FTSE 250 - LOSERS----------Inchcape, down 6.1%. HSBC downgraded the car dealer to Hold from Buy. ----------OTHER MAIN MARKET AND AIM - WINNERS----------MyCelx Technologies, up 11%. The clean water technology firm said it has secured a new contract extension for its waste water product in Saudi Arabia. As a result, MyCelx has increased its revenue forecast for 2018 to between USD19 million and USD20 million, not giving its prior guidance. This would be a strong increase from the USD13.8 million it reported for 2017, itself 75% up year-on-year.----------OTHER MAIN MARKET AND AIM - LOSERS----------Europa Metals, down 12% at 0.08p. The miner said it has raised funds to progress a phase two work programme as its wholly-owned Toral project in Spain. Europa has raised GBP563,516 through a share placing of 727.1 million shares at a price of 0.775 pence each. The placing was arranged by Europa's joint broker, Turner Pope Investments, with new and existing investors. London-listed shares in Europa last closed at 0.0915p each, the placing conducted at a 15% discount to this. Following admission, the placing shares will represent 13% of the company's enlarged issued share capital. The proceeds will be used to fund a planned phase two work programme at Toral as well as providing general working capital.----------