2nd Aug 2018 10:38
LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Thursday.----------FTSE 100 - WINNERS----------Rolls-Royce Holdings, up 5.3%. The jet engine maker upgraded its annual earnings outlook as it presses ahead with its restructuring drive. Rolls-Royce said it now expects 2018 free cash flow to come in between GBP450 million and GBP550 million, compared to previous guidance for GBP350 million to GBP550 million. Operating profit is expected to come in between GBP400 million and GBP500 million, up from GBP300 million to GBP500 million previously guided. Although, in the six months to June 30, Rolls-Royce recorded a GBP1.26 billion loss, swinging heavily from a GBP1.44 billion profit the year before. Of this, a GBP554 million came from an exceptional charge on the Trent 1000 engine, which was incurred due to in-service issues.----------London Stock Exchange Group, up 3.1%. The stock exchange operator reported a "strong financial performance" in the first half of 2018, with profit and revenue increases prompting a significant dividend hike. In the six months ended June, LSE said pretax profit increased 30% to GBP360 million from GBP277 million. Revenue increased 12% to GBP953 million from GBP853 million the year before. Total income was up 12% to GBP1.06 billion from GBP946 million year-on-year. The revenue increase was driven by strong contributions from LSEG's Information Services and Post Trade Services segments. The group raised its interim dividend by 19% to 17.2 pence per share from 14.4p per share the year before.----------Sage Group, up 2.0%. The accounting software provider said it is confident in achieving 7% revenue growth in financial 2018 after reporting a revenue increase for the third quarter. For the third quarter to June 30, the company said revenue, at a group level, increased by 6.8%, delivering a 6.5% growth in the first nine months of the year. Recurring revenue increased 6.8% in the quarter, leading to a 6.6% increase in the nine-month period, with software subscription up 25% since the start of the financial year, Sage said. Software and software related services revenue increased by 7.7%, on the back of a "strong performance" in training and services, while offset by a decline in licence revenue, the company added.----------FTSE 100 - LOSERS----------Rio Tinto, down 3.5%, Fresnillo, down 3.0%, Antofagasta, down 2.9%, Glencore, down 2.1%, BHP Billiton, down 2.0%. The miners were lower amid trade fears as US President Donald Trump escalated his trade war with China, ordering his administration to consider raising the proposed tariff on USD200 billion worth of Chinese imports to 25% from the 10% announced earlier. A spokesperson for China's Foreign Ministry accused the US of "blackmail" and warned of inevitable countermeasures if the US takes further escalatory steps.----------FTSE 250 - WINNERS----------ConvaTec, up 3.0%. The wound dressings maker said it almost doubled its interim profit, as revenue spiked 11%. For the six months to June 30, ConvaTec reported pretax profit up 95% to USD88.5 million compared to USD45.5 recorded in the comparative year ago period. Revenue increased 11% to USD921.3 million from USD831.3 million year-on-year. On a reported basis, each of the company's four franchises grew revenue in the half-year, with Continence and Critical Care increasing by 26% to USD220.1 million.----------Elementis, up 2.6%. JPMorgan raised the specialty chemicals company to Overweight from Neutral. ----------FTSE 250 - LOSERS----------KAZ Minerals, down 19%. The miner said it will acquire the Baimskaya copper project in the Chukotka region of Russia in a cash and stock deal worth USD900 million. The legal owner of the Baimskaya licence is LLC GDK Baimskaya, a unit of Aristus Holdings. The deal consideration includes an initial consideration of USD675 million and deferred consideration of USD225 million. The initial consideration will be for 75% interest in the Baimskaya project and will comprise of USD436 million in cash and 22.3 million Kaz Minerals shares, representing 5.0% of current share capital of the company valued at USD239 million. The deferred consideration of USD225 million will be paid in either cash or shares for the remaining 25% interest in the project.----------Ferrexpo, down 16%. The iron pellet producer suffered double-digit drop in profit in the first six months of the year, resulting from increasing costs and declining iron ore prices. In first half of 2018, the company recorded a USD202.9 million profit, down 23% from USD262.2 million the year before. The benchmark 62% iron ore fine price was 6% lower than in 2017, averaging USD69.7 per tonne with lower-quality iron ore prices "heavily discounted". Commodity and local cost inflation had the most significant impact on costs. Per tonne, commodity costs were USD3.3 higher and inflation USD1.9 higher for the period versus the previous year. Repair and maintenance costs widened by USD2.6 per tonne for the period due to increased maintenance activities.----------Related Shares:
KAZ.LLSE.LRio TintoBHP Billiton PLCSage GroupConvaTecFerrexpoAntofagastaGlencoreRolls-RoyceAntofag.5%pr