18th Dec 2015 10:50
LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Friday.
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FTSE 100 - WINNERS
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Sports Direct International, up 0.8%. The retailer said founder Mike Ashley will personally oversee a review of all agency worker terms and conditions in order to ensure its employees and casual staff work in good conditions. Ashley, who is deputy chairman and owns a 55% stake in the retailer, is expected to begin that review in the New Year. The move comes in the wake of serious questions raised about the conditions faced by the company's workforce.
Several miners were among the top blue-chip gainers. Anglo American was the best blue-chip performer, up 2.6%, while BHP Billiton was adding 1.1%. Gold and silver miner Fresnillo, up 0.6%, was recovering from Thursday's losses, when the spot gold price retreated to an intraday low of USD1,047.40 an ounce. Gold was higher Friday morning, priced at USD1,054.87. Copper prices also were finding support, according to Michael Hewson, chief market analyst at CMC Markets.
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FTSE 250 - WINNERS
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Bodycote, up 4.5% at 564.0 pence, was upgraded by N+1 Singer. The broker expects market sentiment toward the specialty chemicals company to improve in 2016, following a tough 2015 for the stock. Shares in Bodycote have suffered in 2015, down by 12% year to date. The broker cut its price target on the stock to 635p from 785p, but said it sees "double digit upside risk" to its new target.
Restaurant Group, up 2.7% at 6730p, was boosted after UBS initiated its coverage on the company with a Buy recommendation and 860.0p price target.
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FTSE 250 - LOSERS
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N Brown, down 2.6% at 295.0p. Exane BNP cut its price target on the fashion retailer to 260 pence from 280p.
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MAIN MARKET AND AIM - WINNERS
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Electric Word, up 23%. The specialist media group, said it has conditionally agreed to sell its indirect 70% stake in iGaming Business to Clarion Events. The sale values the whole of iGB on a cash-free, debt-free basis at GBP19.7 million. The holder of the remaining iGB Shares, Michael Caselli, has also agreed to sell 5.1% of the issued iGB Shares and will retain the remainder.
Hardide, up 19%. The surface coating technology company said it has won an order worth more than GBP300,000 to supply coated components for a new X-ray baggage screening machine for airports. The company said this new business supports its forecasts, and its revenue project remains unchanged for its full year to end-September 2016.
Volvere, up 18%, said it has sold JMP Consultants, its transport planning and engineering consultancy, for GBP8.0 million in cash to Systra, part of the Systra group of companies. The growth and turnaround investment company, which owns 76.14% of JMP, is expected to retain about GBP5.5 million of the money after transaction costs and incentive payments and bonuses paid to staff and management. Volvere acquired JMP in May 2013 for about GBP400,000 and also provided working capital loans.
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MAIN MARKET AND AIM - LOSERS
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Goodwin, down 4.6%, said only time will tell whether or not it will be able to find work to make up for the shortfall caused by the slowdown in oil, gas and mining industries, as the mechanical and refractory engineering company reported a fall in pretax profit for its first half. For the half year to end-October, Goodwin reported a pretax profit of GBP6.0 million, more than halved from GBP13.5 million a year before, as revenue dropped to GBP61.2 million from GBP73.0 million.
Infrastrata, down 14%, revealed a placing to raise up to GBP450,625 before expenses. The petroleum exploration and gas storage company said it will issue up to 36.1 million new shares at 1.25 pence each to fund short-term working capital requirements in support of its Islandmagee project in Antrim, Northern Ireland.
eServGlobal, down 22%, said it needs to draw down more money under a GBP5.0 million facility with funds managed by Henderson Global Investors in order to repay money owed to National Australia Bank, but there are complexities in managing the situation. The mobile payments company faces a conundrum because it cannot draw down further funds under the facility while National Australia Bank remains a secured creditor. As a result, eServGlobal wants shareholders to give it the authority to put up its assets as security with Henderson in order to "facilitate the discussion" over a request to temporarily waive that condition of the facility, paving the way for the drawdown to be made before March 31, 2016, when it must repay AUD3.0 million owed to National Australia Bank.
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By Samuel Agini; [email protected]; @samuelagini
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