27th Dec 2013 11:28
LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Friday.
-------
FTSE 250 - WINNERS
Evraz, up 3.9%. The group said it will sell iron ore assets to LLC Ruda Khakasii for approximately USD306,000. Ruda Khakasii will purchase some of Evraz's assets in Russia, including the Abakan and Teya iron ore mines and the Mundybash beneficiation plant. Ruda Khakasii also will purchase Evraz's subsidiary utilities companies, Abaza-Energo and Teyskie Energoseti.
-------
FTSE 250 - LOSERS
International Personal Finance, down 17%. The company announced Tuesday that it has been fined GBP2.4 million by the Polish Office of Consumer Protection and Competition after it failed to correctly calculate the annual percentage rate on its products. "While the fine itself is not material," Shore Capital says, "the proposed inclusion of the preparatory fee and home collection service charge in the APR calculation has potentially much larger implications."
-------
AIM - WINNERS
Churchill Mining, up 20%. The company said that the tribunal decision on its Indonesian damages claim is expected in late January or early February. Churchill cut down operations in May 2012 when it filed a Request for Arbitration at the International Centre for Settlement of Investment Disputes against the Republic of Indonesia, alleging that Indonesia breached its obligations under the UK-Indonesia Bilateral Investment Treaty when licenses on a coal site were revoked.
Nova Resources, up 20%. The firm said it has agreed to sell its entire investment in Nova Logistics Holdings Ltd, the coal haulage operation in Mongolia that lost its main contract earlier in the year. The company said it had sold the business to Cairo Investments for a nominal initial sum, plus deferred considerations equating to the unit's net profit in 2014 and 2015. Nova Resources had written-down the value of the business in 2012.
-------
AIM - LOSERS
CSF Group, off 42%. The data centre provider said that it swung to a pretax loss in the first half of its financial year, as it lost two key tenants in its centres and booked write-downs for onerous leases and doubtful debts. CSF reported a pretax loss of RM88.7 million for the six months to end-September, from a profit of RM1.4 million a year earlier. Its revenues declined to RM45.3 milllion, from RM63.9 million. The company wrote off RM40.0 million for onerous leases, and RM31.0 million for doubtful debts on advances made to finance the fit-out of the data centre and operating expenditure of its joint-venture in Indonesia. That prompted the company's auditors to warn about its future as a going concern, but the company said it disagreed with that prognosis.
-------
By James Kemp; [email protected]; @jamespkemp
Copyright 2013 Alliance News Limited. All Rights Reserved.
Related Shares:
EvrazInter. Pers.CSFG.LCloudified Holdings LimitedNOVA.L