14th Apr 2020 10:36
(Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Tuesday.
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FTSE 100 - WINNERS
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Polymetal International, up 5.8%, Fresnillo, up 4.8%. The gold miners were tracking spot gold prices higher, quoted at USD1,721.81 an ounce Tuesday morning, up from USD1,677.77 late Thursday. "Given the dollar's current position as a favoured safe haven, gold now appears to have temporarily, at least, aligned itself with a more risk-on environment. That's working out quite well at the moment and as long as central banks leave the taps running at an unprecedented rate, it's hard to be anything other than bullish," said OANDA markets analyst Craig Erlam.
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AstraZeneca, up 5.8%. The Anglo-Swedish drugmaker said its Adaura Phase III trial for Tagrisso, or osimertinib, for the treatment of lung cancer showed positive results. For three years, the trial assessed Tagrisso as a first-line treatment for "patients with locally advanced or metastatic epidermal growth factor receptor-mutated non-small cell lung cancer". The trial will now continue to assess its secondary endpoint of overall survival. In addition, AstraZeneca and Merck & Co said the US Food & Drug Administration has approved Koselugo, or selumetinib, for the treatment of neurofibromatosis type 1 in patients two years of age and older.
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FTSE 100 - LOSERS
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Carnival, down 7.2%. The Anglo-American cruise line operator on Monday said it has cancelled cruises worldwide until June 26 and extended the pause in its North American operations. Last month, the Miami, Florida-based firm had cancelled departures through to May 10. However, Carnival now has cancelled further cruises after the US Centers for Disease Control & Prevention last week extended a 'no sail order' for cruise ships due to Covid-19.
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British American Tobacco, down 6.5%. The Dunhill and Lucky Strike cigarette maker is under investigation in the US over suspected sanctions breaches, The Times reported on Tuesday. The Department of Justice and the Office of Foreign Assets Control, which is part of the US Department of the Treasury and enforces US trade sanctions, are investigating "suspicions of breach of sanctions", The Times said. It is not clear which territory the regulators are focusing on, the newspaper added. Peer Imperial Brands was down 3.5% in a negative read-across.
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FTSE 250 - WINNERS
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National Express Group, up 5.5%. The transport operator said it had secured GBP600 million from the UK government and Bank of England's Covid Corporate Financing Facility, alongside GBP200 million in extra facilities. Further, National Express said that, before the coronavirus outbreak, the first two months of 2020 delivered significant year-on-year revenue growth of 17%. However, since then the transport company has seen a decline in revenue as services have been withdrawn. National Express has temporarily suspended all National Express coach services in the face of the coronavirus pandemic. Nonetheless, the company said overall revenue for the period to March 31, was still up 8.9% year-on-year in constant currency and 9.4% on a reported basis.
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Ultra Electronics, up 4.1%. The defence contractor said trading in the first quarter of 2020 was "broadly in line with expectations", but it withdrew its 2019 final dividend recommendation amid the Covid-19 virus outbreak. Ultra said revenue, profit, cash performance and order book for the three months to the end of March also were in line with expectations. Ultra Electronics added that its product and programme delivery have not been hurt by Covd-19, as demand remains "robust", supply chains stable, and any disruption caused by changing work patterns kept to a minimum. Ultra has withdrawn its recommendation to pay a 2019 final dividend due to the uncertainty caused by the Covid-19 pandemic. However, it said it intends to pay an additional interim dividend of 39.2p in the second half of 2020, dependent on a future review.
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FTSE 250 - LOSERS
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Essentra, down 5.5%. Jefferies downgraded the plastic and fibre products maker to Hold from Buy.
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By Arvind Bhunjun; [email protected]
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Related Shares:
AstrazenecaBritish American TobaccoCarnivalEssentraPOLY.LFresnilloImperial Brands