27th Aug 2019 10:28
(Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Tuesday.----------FTSE 100 - LOSERS----------Ferguson, down 3.1%. Bank of America Merrill Lynch cut its rating on the plumbing and heating products firm to Underperform from Neutral.----------Bunzl, down 0.5%. The distribution firm reported a slight rise in interim profit, despite weakening economic conditions, especially in the UK & Ireland. Pretax profit climbed 1.6% to GBP200.5 million, with the adjusted figure was up 2.7% to GBP264.2 million. Bunzl's revenue rose 4.3% to GBP4.53 million. Bunzl raised its interim dividend by 2.0% to 15.5 pence per share. "Against the background of slowing macroeconomic and market conditions across the countries and sectors in which we operate, Bunzl has produced a resilient operating performance with high cash conversion and an increased dividend," said Chief Executive Frank van Zanten.----------FTSE 250 - WINNERS----------Polymetal International, up 2.1%. The gold miner said an increase in production drove revenue growth in the first half of 2019, though currency exchange losses hurt earnings. Revenue in the six months to June 30 rose 20% to USD946.0 million, with gold equivalent production rising 22% year-on-year to 756,000 ounces gold sales by 36% to 604,000 ounces. There was also a fall in first half net earnings, by 13%, to USD153.0 million which the company attributed to a USD24.0 million in foreign exchange loss compared with a USD2.0 million gain last year. Pretax profit stayed flat at USD210.0 million. Underlying net earnings, which does not include the impact of one-off costs, grew 21% to USD188.0 million. Polymetal proposed an 18% interim dividend rise to USD0.20 per share.----------G4S, up 1.5%. Royal Bank of Canada raised the outsourcing stock's rating to Outperform from Sector Perform.----------OTHER MAIN MARKET AND AIM - WINNERS----------Carpetright, up 7.2%. The floor covering retailer said its major shareholder Meditor European Master Fund has agreed to purchase its lending facilities, and also intends to secure long-term funding for Carpetright. Meditor, which held a 30% stake in Carpetright as of late May, agreed to buy the GBP40.7 million revolving credit facility from current providers NatWest and AIB whilst also retaining the current terms of the facility. In addition, Meditor has agreed to provide funding to NatWest and Ulster Bank for the current GBP6.5 million overdraft facilities currently provided by the two lenders.----------OTHER MAIN MARKET AND AIM - LOSERS----------Cambridge Cognition, down 43%. The neuroscience technology firm expects a loss for the six months to June of GBP1.7 million, from GBP1.0 million the year before. The company also expects to report a 21% drop in revenue to GBP2.2 million. For the full year, Cambridge Cognition expects its loss to widen to GBP2.8 million from GBP1.4 million in 2018. The company is guiding for revenue of GBP5.5 million in 2019, 9.8% behind 2018's GBP6.1 million. ----------Ascent Resources, down 8.9%. The firm is looking at ways of developing the Petisovci gas field in Slovenia that do not use hydraulic simulation, and it is also looking at other drilling and re-entry possibilities. Ascent also said it is preparing to extend the concession past the current 2022 expiration, and is also getting ready for legal action against Slovenia over repeated permitting delays. ----------
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