23rd Jan 2015 11:39
LONDON (Alliance News) - The following stocks are amongst the biggest risers and fallers within the main London indices midday Friday.
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FTSE 100 WINNERS
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St James's Place, up 1.8%. The wealth manager has had its price target raised by Citigroup, which reiterated its Buy rating, Barclays, which maintained its Overweight recommendation, and Numis, which has an Add rating on the stock.
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FTSE 100 LOSERS
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Antofagasta, down 3.6%. Goldman Sachs has cut the miner to Neutral from Buy, according to traders.
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FTSE 250 WINNERS
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Jimmy Choo, up 3.0%. The luxury shoe maker said revenue grew by 12% in local currency terms in 2014, with demand for its shoes in Asia the main driver of growth. The company said net revenue for 2014 was GBP299 million, up from GBP282 million in 2013, representing growth of 6.2% at actual currency, but 12% at constant currency rates. Retail revenue grew by 8.7% at actual rates to GBP193 million, with wholesale increased slightly by 1.9% to GBP100 million. Retail like-for-like sales grew by 5.7% at constant currency, buoyed by online.
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FTSE 250 LOSERS
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Ultra Electronics Holdings, down 2.9%. The company said it is set to make a non-cash provision in its 2014 accounts after it received notice that its Oman Airport IT contract has been terminated. The company said it will start talks with the client next week to work towards a settlement and could not make any further comment at this stage.
Rentokil Initial, down 2.1%. The services group has been downgraded by UBS to Sell from Neutral.
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AIM ALL-SHARE WINNERS
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Sable Mining, up 221%. The company said it is in talks with the Liberian government about a potential 25-year, iron ore transshipment deal and infrastructure development agreement that will allow the company to ship its ore from Guinea through Liberia to the port of Buchanan for export.
HaiKe Chemical Group, up 75%. The China-based specialty chemicals company said it expects to post a profit from continuing operations for 2014, as average selling prices and margins improved over the year. The company said its revenue for the year to December 31 would be slightly lower year-on-year, but said average selling prices and margins have improved and it expects its earnings before income, taxation, depreciation and amortisation to come in broadly in line with 2013, despite a rise in one-off expenses related to the restructuring of the company.
SpaceandPeople, up 25%. The company said it expects to report full-year profit at the upper end of market expectations, boosted by "robust" trading in the last four months of the year. Meeting the upper end of market expectations would give a boost to the marketing specialist following two profit warnings last year on challenging conditions for some of its operations.
Miton Group, up 23%. The company said it expects to pay a "good and growing dividend" for its last financial year, as it reported a rise in cash balances and said that adjusted pretax profit, which excludes amortisation, exceptional items and certain matters of taxation, is in line with expectations.
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AIM ALL-SHARE LOSERS
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Cambria Africa, off 34%. The company's board said it no longer considered it was in the best interests of the company or shareholders to retain an AIM listing. The board said the sale of the Leopard Rock Hotel at a price well below expectations meant the total assets of the company were significantly reduced. Following this, it feels the costs associated with maintaining an AIM listing are disproportionate given the size of the company.
Frontier Mining, down 26%. The company said lower levels of production in the latter part of 2014 have led to copper sales being "insufficient to cover production costs". It said it has closed the Benkala mine for the winter, which will give the company time to hold potential partnership talks.
Robinson, down 16%. The placing and paperboard packaging company said it expects a more challenging 2015, even as revenue for 2014 is set to rise 20%. Robinson said its revenue for the year to December 31 is anticipated to be GBP28.1 million, up 20% year-on-year on the back of the integration of Polish packaging company Madrox, which it acquired for GBP13.2 million in February. Underlying revenue for its existing business was flat year-on-year, it said.
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By Neil Thakrar; [email protected]; @NeilThakrar1
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