LONDON (Alliance News) - The following stocks are amongst the biggest risers and fallers within the main London indices midday Thursday.
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FTSE 100 WINNERS
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London Stock Exchange, up 3.1%. The bourse operator reported a rise in pretax profit to GBP136.8 million in the six months ended September 30, compared with GBP116.0 million last year. Revenue rose to GBP592.6 million from GBP504.2 million.
SABMiller, up 2%. The brewer reported a rise in first-half revenue to USD11.37 billion, driven by sales in Africa and Latin America. Pretax profit rose to USD2.83 billion from USD2.43 billion and it raised its dividend to 26 cents a share.
ITV, up 1.9%. The broadcaster said it remains on track to deliver double-digit profit growth this year and GBP15 million in cost savings as it reported a rise in nine-month external revenue to GBP1.8 billion.
Wolseley, up 1.7%. Berenberg upgraded the stock to Buy and raised its price target for the stock to 3,900 pence, noting strength in the company's US business. Morgan Stanley also raised it price target on the stock to 3,700p and maintained its Hold rating.
IAG, up 1.3%. The airline operator is benefiting from a drop in crude oil prices to new four-year lows.
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FTSE 100 LOSERS
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Tullow Oil, down 1.6%. The oil explorer is suffering further losses as crude prices touch fresh four-year lows.
Roll-Royce, down 0.9%. The aero-engine reiterated that extra restructuring costs will reduce its expected underlying profit in both 2014 and 2015 by about GBP60 million.
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FTSE 250 WINNERS
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Aveva, up 2.4%. Barclays raised its rating on the stock to Overweight with a 1,900p price target.
St. Modwen Properties, up 2.2%. The company's joint venture with Vinci was granted planning permission for the redevelopment of the 57 acre New Covent Garden Market site in Nine Elms, London.
Howden Joinery, up 2%. Berenberg raised its price target on the stock to 445p and reiterated its Buy rating.
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FTSE 250 LOSERS
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Rexam, down 7.2%. The drinks can maker warned of challenging markets and said a recent rise in aluminium prices could add about GBP30 million to its costs next year if they are sustained.
Electrocomponents, down 6.5%. The company reported a fall in pretax profit and revenue for the first half, hit by the strength of sterling, and said its chief executive is stepping down.
Spirent Communications, down 3.3%. The company reiterated is fourth quarter revenue expectations, although it warned it expects weaker market conditions to continue throughout the rest of 2014, as acquisitions helped boost revenue in its third quarter.
Grafton Group, down 1%. Sales growth moderated in the last four months after a very strong first half of 2014, but the company said the outlook remains positive and it's expecting to report a full-year operating profit in line with its expectations.
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AIM ALL-SHARE WINNERS
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CityFibre, up 14%. the company said it has signed a long-term national framework agreement with mobile network operators EE and Hutchison 3G UK.
Coal of Africa, up 12%. The company said it has completed the first stage of its share placement and received the funds from the issue. The company issued 251 million shares on AIM in London and on the Johannesburg Stock Exchange with a total value of GBP13.8 million.
Frontier Resources, up 7.6%. The company appointed Neil Herbert as chairman, replacing Ric Piper who is stepping down from the board.
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AIM ALL-SHARE LOSERS
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San Leon Energy, down 21%. The company said that Genel Energy, operator of the Sidi Moussa licence offshore Morocco, was plugging and abandoning the SM-1 well on the block after failing to produce oil at sustainable rates. San Leon holds a 10% net working interest in the Sidi Moussa block.
Serica Energy, down 16%. Serica has a 5% interest in the Sidi Moussa block
Randall & Quilter, down 14%. The insurer warned pretax profit for the year will be materially lower than market expectations because of higher net provisions to cover asbestos-related claims, disappointing trading in its US insurance services arm, and lower than expected investment income.
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By Ian Edmondson; ianedmondson@alliancenews.com;
Copyright 2014 Alliance News Limited. All Rights Reserved.
UK shareholder meetings calendar - next 7 days
Wednesday 7 September | |
AEW UK REIT PLC | AGM |
BlueRock Diamonds PLC | AGM |
CVC Income & Growth Ltd | EGM |
Halfords Group PLC | AGM |
Grand Vision Media Holdings PLC | AGM |
Jupiter Green Investment Trust PLC | AGM |
Mulberry Group PLC | AGM |
Okyo Pharma Ltd | AGM |
Polar Capital Holdings PLC | AGM |
Redcentric PLC | AGM |
Seed Innovations Ltd | AGM |
Solid State PLC | AGM |
Taylor Maritime Inc | AGM |
Trifast PLC | AGM |
Yellow Cake PLC | AGM |
Thursday 8 September | |
Atlantis Japan Growth Fund Ltd | AGM |
Aston Martin Lagonda Global Holdings PLC | GM proposed equity capital raise |
Caretech Holdings PLC | GM takeover by Sheikh Holdings Group |
Chariot Ltd | AGM |
Chelverton UK Dividend Trust PLC | AGM |
Currys PLC | AGM |
Euromoney Institutional Investor PLC | GM re takeover offer by Astorg and Epiris |
Gabelli Merger Plus+ Trust PLC | GM tender offers |
Invesco Asia Trust PLC | AGM |
LendInvest PLC | AGM |
Lindsell Train Investment Trust PLC | AGM |
Montanaro European Smaller Cos Trust PLC | AGM |
Polar Capital Technology Trust PLC | AGM |
ScotGems PLC | GM re voluntary liquidation |
Semper Fortis Esports PLC | AGM |
Severfield PLC | AGM |
Speedy Hire PLC | AGM |
SysGroup PLC | AGM |
WH Ireland Group PLC | AGM |
XPS Pensions Group PLC | AGM |
Friday 9 September | |
Baillie Gifford UK Growth Trust PLC | AGM |
BH Macro Ltd | AGM |
CLS Holdings PLC | GM re tender offer |
Gear4Music Holdings PLC | AGM |
Newcrest Mining Ltd | AGM |
Pensana PLC | AGM |
ReNeuron Group PLC | AGM |
SVM UK Emerging Fund PLC | AGM |
Victoria Oil & Gas PLC | AGM |
Voyager Life PLC | AGM |
Monday 12 September | |
Haydale Graphene Industries PLC | GM re fundraising |
SDCL Energy Efficiency Income Trust PLC | AGM |
Warehouse REIT PLC | AGM |
Tuesday 13 September | |
Alpha Financial Markets Consulting PLC | AGM |
Industrials REIT Ltd | AGM |
Mercia Asset Management PLC | AGM |
R&Q Insurance Holdings Ltd | SGM |
Rockwood Strategic PLC | AGM |
Wizz Air Holdings PLC | AGM |
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