27th Nov 2019 10:46
(Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Wednesday.
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FTSE 100 - WINNERS
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British American Tobacco, up 1.8%. The Dunhill and Lucky Strike cigarettes maker said it expects to report robust results in 2019, following a strong performance in the second half, particularly in the US. In the US, the London & Johannesburg-listed tobacco firm said it delivered good revenue on a constant currency basis, supported by pricing and reduced discounting. BAT continues to expect US industry volumes for 2019 to be down by 5.5%, while for 2020 it expects a drop in the range of 4% to 6%. In the Vapour division, Vuse is growing its value share in the US, with Vuse Alto's share at 11% in October, and the Vuse family value share at 18%. Overall, BAT said it expects to report a rise in adjusted operating profit for 2019 in the upper half of its 5% to 7% guidance range. Constant currency revenue for the year, meanwhile, is also expected to grow in the upper half of its guidance range, which is between 3% and 5%.
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FTSE 100 - LOSERS
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Compass Group, down 2.1%. Liberum downgraded the contract caterer to Hold from Buy. Compass on Tuesday said it plans to cut up to 4,000 jobs owing to a deteriorating European outlook and as it warned over Brexit's impact. Furthermore, Compass on Tuesday said pretax profit fell 3.5% on the year before to GBP1.47 billion due to a cost action programme bringing a GBP190 million one-off charge, offsetting foreign exchange benefits. Revenue rose 8.8% to GBP24.88 billion.
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Rolls-Royce Holdings, down 2.0%. Morgan Stanley cut the jet engine maker to Equal Weight from Overweight.
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FTSE 250 - WINNERS
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Grainger, up 3.0%. The residential landlord said it delivered a strong performance against a backdrop of both political and economic uncertainty, supported by strong demand of rental property across the UK. Grainger said that for the financial year to September 30, its net rental income grew 45% to GBP63.5 million from GBP43.8 million in 2018. Grainger said its strategic focus on the UK private rented sector continues to deliver real growth in the business, underpinned by a strong demand for rental homes across the country. Pretax rose 30% to GBP131.3 million from GBP100.7 million, the company said. Citing the significant increase in net rental income this year and overall robust performance, the company proposed final dividend of 3.46 pence per share, a 9% increase from 2018, with total dividend for the year of 5.19p, up from 4.75 pence in 2018.
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FTSE 250 - LOSERS
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Future, down 10% at 1,414.00p. Members of the magazine publisher's management team and some former employees have sold 3.1 million shares, Numis Securities said. Numis explained that nil-cost options over 3.1 million shares in the company, which were granted to the senior management team under the company's performance share plan in 2016 and 2017 and vested on Saturday, have been exercised. The shares represent, in total, around 3.2% of Future's issued share capital. The placing, carried out by RBC cees Trustee - which acting as trustee of the Future Employment Benefit Trust - raised gross proceeds of GBP43.7 million. Chief Executive Zillah Byng-Thorne and Chief Financial Officer Penny Ladkin-Brand sold about 1.0 million shares and 550,000 shares respectively, "in part to satisfy certain tax obligations and other costs associated with the vesting of the options". The other sellers, comprising 17 individuals employed or previously employed by Future, sold about 1.5 million shares in aggregate. The shares were priced at 1,400 pence.
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Mitchells & Butlers, down 3.0%. Berenberg cut the restaurant and pub operator to Hold from Buy.
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OTHER MAIN MARKET AND AIM - LOSERS
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ScS Group, down 2.2%. The sofa seller said that ongoing economic and political uncertainty is continuing to hurt consumer confidence and spending. Speaking at the furniture retailer's annual general meeting, Chair Alan Smith said that in the 17 weeks ended November 23, the like-for-like order intake decreased 7.1% and the two-year like-for-like order intake decreased 4.0%. The company added that business is trading in line with its expectations.
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By Arvind Bhunjun; [email protected]
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Related Shares:
Mitchells & ButlersFutureBritish American TobaccoSCS.LGrainger plcCompass GroupRolls-Royce