23rd May 2018 10:46
LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Wednesday.----------FTSE 100 - WINNERS----------Marks & Spencer, up 3.8%. The food, clothing and homewares retailer said profit slumped in its recently ended financial year, as it works to rectify "a number of structural issues" at the company. Revenue rose 0.7% to GBP10.70 billion for the year to March 31, up from GBP10.62 billion last year, but pretax profit dropped 62% to GBP66.8 million from GBP176.4 million. One-off costs came in at GBP514.1 million for the year, up from GBP437.4 million last year. This includes GBP321.1 million related to the UK store estate, up from GBP51.6 million the year before - as it accelerated its "transformation plans" - with a GBP15.5 million cost related to its IT restructure.----------Standard Chartered, up 1.8%. Barclays has been "quietly" seeking opportunities to combine with rivals, including Standard Chartered, the Financial Times said. The newspaper, citing "people close to the situation", said directors of each of the banks were already in "private" talks, but no formal or informal approach has been made. The Financial Times noted the decision is part of the company's wide-ranging contingency plans, initiated after Sherborne Investors Management took a 5.16% stake in the FTSE 100-listed lender in March, which it then upped to 5.41%. Both parties declined to comment, the Financial Times said. Barclays was down 0.6%.----------Severn Trent, up 1.8%. The water company hiked its dividend for the recently ended financial year amid revenue growth and despite lower profit. Pretax profit for the year ended in March declined to GBP302.4 million from GBP328.0 million the year before, on revenue that increased by 1.3% to GBP1.69 million from GBP1.64 billion. The dip in profit was due to higher net finance costs at GBP219.5 million from GBP205.1 million the prior year, as well as exceptional costs that totalled GBP12.6 million, swinging from a gain of GBP16.6 million the year before. This came from restructuring costs in the Regulated Water and Waste Water segment and Business Services division. Severn Water's increase in revenue came from outperformance of its customer outcome delivery incentives for the year from the UK government, earning a net outperformance payment of GBP80.0 million. ----------FTSE 100 - LOSERS----------Anglo American, down 5.0%, Royal Dutch Shell 'A', down 2.6%, Shell 'B', down 2.4%, Glencore, down 2.4%, Antofagasta, down 2.3%, BP, down 2.2%. The commodity stocks were lower amid renewed trade war uncertainty after US President Donald Trump cautioned trade talks with so far have been unsatisfactory. "The biggest drag on the FTSE 100 is understandably associated with the continued potential for a trade war, with mining firms such as Anglo American, Antofagasta and Glencore being joined by Royal Dutch Shell amid speculation that OPEC could ease their supply restrictions given elevated prices," said IG Group analyst Josh Mahony. Brent was down quoted at USD78.98 a barrel compared to USD80.18 at the London equities close Tuesday.----------International Consolidated Airlines Group, down 2.3%. HSBC cut the British Airways, Iberia and Aer Lingus parent to Reduce from Hold. ----------FTSE 250 - WINNERS----------Softcat, up 8.5%. The IT infrastructure firm said it expects to report annual results above expectations following a strong third quarter. The group said it continued to trade well across all segments during the quarter ended April 30, with market conditions and customer demand both remaining strong. As a result, Softcat said it is confident in delivering full-year results ahead of expectations.----------Britvic, up 6.5%. The soft drinks maker said interim profit dipped as revenue rose, with it "too soon to guide" on the likely impact of the UK Soft Drinks Industry Levy but early indications broadly as anticipated. Revenue for the 28 weeks to April 15 rose 4.5% to GBP733.2 million, though pretax profit slipped to GBP41.8 million from GBP50.1 million last year. The company booked restructuring costs of GBP21.6 million in the period. The company lifted its interim dividend 9.7% to 7.9p from 7.2p. Revenue in Britain rose 4.6%, with strong growth from low and no sugar brands. Pepsi continued to grow volume and value market share, with no-sugar MAX "significantly outgrowing all other cola variants". ----------Babcock International, up 3.5%. The defence outsourcer lifted its dividend as annual profit and revenue grew. Babcock posted a pretax profit of GBP391.1 million for the year to March 31, up 8.0% from GBP362.1 million the year before. Revenue increased 2.5% to GBP4.66 billion from GBP4.55 billion. As a result, Babcock raised its final dividend by 4.6% to 22.65 pence per share from 21.65p the year before. This will give a total dividend for the year of 29.5p per share, a 4.8% increase from 28.15p last year. ----------FTSE 250 - LOSERS----------Dairy Crest, down 8.1% at 493.12p. The dairy products maker said its performance during its recently-ended financial year was "robust" despite significant price inflation, as a reduction in pension scheme liabilities pushed profit up. The company also said it intends to conduct a placing to institutional investors to finance an expansion of its cheese business. The company will place up to 14.1 million shares at a price of 495.00 pence each, representing about 10% of its currently issued shares. Dairy Crest - which owns the Cathedral City, Clover, Frylight and Country Life brands - reported a pretax profit of GBP179.2 million for the financial year ended March, multiplying from GBP40.3 million the prior year. The result was predominantly helped by an exceptional gain in relation to its pension fund of GBP130.9 million. Adjusted pretax profit grew 3% to GBP62.3 million from GBP60.6 million.----------Weir Group, down 4.0%. Exane BNP downgraded the pumps and valves maker to Neutral from Outperform. ----------Related Shares:
International AirlinesBritvicBarclaysBabcockAnglo AmericanRDSA.LRDSB.LBPDairy CrestStandard CharteredMarks & SpencerSoftcatWeir GroupAntofagastaGlencoreSevern TrentAntofag.5%pr