WINNERS & LOSERS SUMMARY: Reckitt Slides After Missing Forecasts

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Friday.----------FTSE 100 - LOSERS----------Reckitt Benckiser, down 6.3%. The household goods firm said it expects to achieve targeted annual growth as revenue rose in the first quarter of 2018. Reckitt reported total revenue of GBP3.10 billion for three months to the end of March, up 23% at actual exchange rates from GBP2.60 billion for the same period the year before. Revenue in Reckitt's Health unit grew 49% year-on-year to GBP1.90 billion, while revenue in the Hygiene Home division fell 3.0% to GBP1.20 billion. On a like-for-like basis, which adjusts for acquisitions, disposals and at constant currency, revenue grew 2.0%. This included 4.0% like-for-like growth in Hygiene Home and 1.0% rise in Health. The company said its Health division saw a a good growth in Health Relief brand, but it was offset by weakness in its Health Wellness and Health Hygiene brands. "Reckitt Benckiser shares are in the red after the company missed analysts' sales forecasts. Like-for-like sales increased by 2%, but traders were expecting 2.6%," said David Madden, market analyst at CMC Markets.Shire, down 3.6%. Shares in the Irish rare disease drugmaker were lower after peer Allergan confirmed that it "does not intend to make an offer" for fellow its Dublin-based drug maker, backing off its announcement on Thursday that it was considering one. Allergan said it "reserves the right" to buy or offer to acquire Shire shares if another third-party announces a firm intention to make an offer. On Thursday, Shire had said it rejected three takeover proposals from Japan's Takeda Pharmaceutical since the end of March, while Allergan had said it was in the "early stages" of considering an offer to buy Shire. Shares in Shire closed up 5.9% on Thursday.----------FTSE 250 - WINNERS----------Hikma Pharmaceuticals, up 2.5%. The drugmaker said a US subsidiary has launched its version of Dexrazoxane for Injection, a generic equivalent for heart disease treatment Zinecardi. Zinecardi is owned by Pharmacia and Upjohn. West-Ward Pharmaceuticals has launched the treatment in 250 milligram and 500 milligram doses via injection. Dexrazoxane, the FTSE 250-listed firm said, is a treatment reducing the incidence and severity of heart problems in women received the drug doxorubicin for breast cancer. According to market research firm IQVIA, Hikma added, sales in the US of Dexrazoxane for Injection in the 12 months to February were around USD15.0 million. ----------FTSE 250 - LOSERS----------Countryside Properties, down 3.0% at 360.20 pence. A unit of Oaktree Capital Management completed the sale of its remaining interest of 36.2 million shares - an 8.0% stake - in the housebuilder for 358 pence per share, sole bookrunner Jefferies International said. The asset manager is expected to net around GBP131.7 million from the share sale.----------OTHER MAIN MARKET AND AIM - WINNERS----------Omega Diagnostics Group, up 20%. The medical diagnostics company said it signed a long-term distribution agreement with automated immunoanalyser technologies manufacturer Immunodiagnostic Systems for its Allersys range of allergy assays. Omega said it now looks forward to working with Immunodiagnostic Systems to introduce the initial launch panel of 51 allergy tests into the market. Looking ahead, the company said that it intends to broaden its range of test through development of new assays to provide regular updates to the Immunodiagnostic Systems' instrument menu. "I am pleased that we have finally concluded a deal with Immunodiagnostic Systems to become our exclusive distributor for our Allersys product range," said Chief Executive Colin King. ----------OTHER MAIN MARKET AND AIM - LOSERS----------Nighthawk Energy, down 66%. The oil and gas company said it had defaulted on a loan with assets now possibly subject to foreclosure or "other recourse". In December, the firm agreed with creditor Commonwealth Bank of Australia to amend the maturity date on its loan to June. In October, the bank had agreed to a waiver related to a minimum production breach by Nighthawk. On Friday, the company said SSG has completed the solicitation phase of the restructuring process, but so far, the only proposals it has come up with are to directly buy Nighthawk's assets at a value below the principal of its loan from CBA. On Thursday, it received a notice of default from CBA after Wednesday's deadline for a definitive agreement of a sale or restructuring, and as a result Nighthawk said it is subject to possible remedial action by the bank which could include the foreclosure or other options for its assets. Nighthawk believes CBA "will continue to allow the company to pursue in good faith" its plans to restructure or sell assets before June to stave off the default. ----------