CAP.L Share News (CAP)

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

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FTSE 100 - WINNERS

J Sainsbury, up 3.2%, and Tesco, up 0.9%. The food retailers are amongst the leading risers as they rebound from sharp declines posted on Thursday. The companies fell 8.5% and 5%, respectively, in the wake of a poor earnings report from rival WM Morrison Supermarkets. Morrisons continues to suffer, however, down 0.4% Friday after losing 12% on Thursday.

BP, up 0.3%. The US government on Thursday decided to lift the ban on the British oil giant from bidding for federal government contracts, four years after the Deepwater Horizon rig explosion in April 2010. The decision will enable BP to bid for new contracts that could generate million of dollars of new business for the company.

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FTSE 250 - WINNERS

Hansteen Holdings, up 0.7%. Jefferies has raised Hansteen Holdings' price target to 105.00 pence from 100.00p, saying that, following a strong 2013, the investment property group is now looking forward to further opportunities, "as both the occupational and investment markets continue to recover". Looking ahead, the investment bank believes that further disposals are a certainty and expects rental growth to gather pace.

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AIM - WINNERS

Scientific Digital Imaging, up 7.5%. The company has launched its new high sensitivity image analysis systems. It said the new G:BOX Chemi XX6 and XX9 systems utilise the latest CCD camera technology and are suitable for scientists needing a system capable of imaging of 1D and 2D gels and chemi and fluorescent blots.

Baobab Resources, up 4.6%. The company said it would get another GBP3.1 million after African Minerals Exploration & Development Fund SICAR SCA's investment fund exercised 27 million options over the company's shares at 11.574 pence. Baobab said it will use the money to continue funding its definitive feasibility study work programme, which is on schedule for completion towards the end of 2014. The company's shares are currently quoted at 10.725 pence.

Magnolia Petroleum, up 4.5%. The US-focused onshore oil and gas production company said it expects full-year earnings before interest, taxation, depreciation and amortisation, adjusted for any foreign exchange gains or losses, to be ahead of market expectations, with revenues in line with expectations.

Clean Air Power, up 4.4%. The company, which develops dual-fuel combustion technology for heavy-duty engines, said it plans to launch its dual-fuel products in the US and Russia after narrowing its losses in 2013, driven by strong demand for its systems. It posted pretax losses of GBP2.0 million for the year, compared with a loss of GBP2.2 million, as revenue rose to GBP9.9 million from GBP7.9 million a year earlier.

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AIM - LOSERS

Black Mountain Resources, off 11%. The company said it has secured a USD1.5 million facility that will be used to move its New Departure silver project into production while it awaits delayed funding from Alcyone Resources Ltd. The company said Alcyone's AUD25 million financing arrangement with Platinum Partners had been terminated, and Alcyone is now planning to undertake a rights issue to raise about AUD13.8 million. Alcyone is still committed to providing the AUD3 million financing it had previously agreed with Black Mountain, but will only be in a position to provide the money one its own rights issue is completed, Black Mountain said.

Tanfield Group, down 10%. The investing company's shares have been hit despite the group reporting that its two passive investments, Snorkel International Holdings and Smith Electric Vehicles Corp, performed well during 2013, and that it sold its loss-making engineering business in December.

Touchstone Gold, down 9.2%. The company has raised GBP100,000 through a subscription of 19.9 million new shares at 0.5021 pence each by new investors, money it will use for working capital while it repositions itself and considers new opportunities. Touchstone's shares are currently quoted at 0.59 pence.

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By James Kemp; jameskemp@alliancenews.com; @jamespkemp

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