14th Mar 2019 10:46
LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Thursday.----------FTSE 100 - WINNERS----------TUI, up 4.2%. Morgan Stanley upgraded the Anglo-German travel company to Overweight from Equal Weight. ----------FTSE 100 - LOSERS----------Anglo American, down 3.0%, CRH, down 1.4%. The stocks went ex-dividend, meaning new buyers no longer qualify for the latest dividend payout. ----------FTSE 250 - WINNERS----------Cineworld Group, up 7.0%. The movie theatre operator's profit more than doubled after revenue spiked significantly, driven by the acquisition of Regal Entertainment Group in the US, completed in February 2018. For 2018, the cinema chain reported annual profit of USD349.0 million, up from USD155.1 million a year ago. Revenue jumped to USD4.12 billion from USD1.15 billion a year prior as admissions rose to 272.6 million from 103.8 million. On a proforma basis, reflecting the company's US performance if Regal been consolidated for the whole of 2018 and 2017, revenue increased 7.2%. Cineworld upped its annual payout by 18% to 15 US cents per year after proposing a final 10.15 cents dividend.----------Ultra Electronics, up 3.5%. Berenberg raised the defence contractor to Buy from Hold. ----------FTSE 250 - LOSERS----------Just Group, down 13%. The retirement financial services firm sank to a loss in 2018, citing the uncertainty caused by Brexit, whilst also announcing it is looking to place new shares equivalent to just under 10% of its current issued share capital. Just Group said it is raising the funds in order to strengthen its capital base to "support its new business franchise and maintain its focus on growing profits". Just Group is looking to conduct an underwritten placing to institutional investors of 94.0 million shares via an accelerated bookbuild. Turning to results for 2018, Just Group's net premium revenue rose to GBP2.71 billion from GBP2.43 billion, but the company sank to a pretax loss of GBP85.5 million from a GBP181.3 profit million the year before. The company added it has considered it "appropriate" not to pay a dividend for 2018, and will look to recommence payouts in 2019 at a "rebased" level of approximately one third of the 3.72p paid out in 2017.----------Savills, down 6.5%. The estate agent said profit declined in 2018, hit by a range of factors, including a charge from the equalising of its guaranteed pension plan. Savills posted a pretax profit of GBP109.4 million for the year, down 2.7% from GBP112.4 million. The company incurred a one-off charge relating to its pension plan of GBP3.1 million versus no such charge in 2017, which hurt profit. Savills's profit also took a hit from a drop in transaction fees from its investment management business; negative currency movements; higher acquisition-related charges; and lower profits on investment disposals. Employee benefits expense was GBP1.17 billion versus GBP1.06 billion in 2017 while other operating expenses increased to GBP473.3 million from GBP418.5 million.----------Jupiter Fund Management, down 4.5%. The stock went ex-dividend. ----------OTHER MAIN MARKET AND AIM - WINNERS----------Paragon Entertainment, up 7.7% at 0.70p. The attractions designer and fit-out supplier said it raised GBP150,000 via a subscription of 18.8 million shares at 0.80 pence each. The subscription was undertaken by some board members, a manager and an existing shareholder known to the company, Paragon said. Chief Executive Officer Mark Pyrah subscribed for 5.0 million shares, raising his stake to 11.8%, while Chair Mark Taylor took up 5.3 million shares, upping his interest to 7.8%. Chief Financial Officer Neil Jefferies subscribed for 3.1 million shares, comprising his total shareholding, representing 1.51% of the firm's capital. Finally, Manager Tim North took up 375,000 shares while shareholder Colin Pyrah upped his stake to 4.44% after subscribing for 5.0 million shares. Admission of the new shares to trading on AIM is expected on March 20, following which Paragon will have 206.4 million shares in issue.----------OTHER MAIN MARKET AND AIM - LOSERS----------Capital & Regional, down 9.7%. The shopping centre operator reduced its annual shareholder payout, as retailers continued to struggle in the UK. Capital & Regional, which owns seven shopping centres in the UK, will pay a final dividend of 0.60 pence per share, after a final return of 1.91p a year prior. The total for 2018 is thus 2.42p, down from 3.64p in 2017, a fall of 34%. The firm wants to preserve cash to fund capital expenditure investment and mitigate leverage, it said, while at the same time meeting REIT dividend rules. Capital & Regional's net rental income for 2018 rose 0.6% to GBP51.9 million, with the like-for-like figure flat despite 20 company voluntary arrangements and restructurings from tenants, which hit income by GBP1.5 million. Net asset value at the end of 2018 was 60 pence, down 11% year-on-year, and EPRA net asset value fell 12% to 59p. ----------