10th Feb 2017 10:31
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 - LOSERS
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Randgold Resources, down 1.4%, Fresnillo, down 1.1%. The gold miners were tracking spot gold prices lower, quoted at USD1,225.76 an ounce compared to USD1,233.85 at the London equities close on Thursday. Midcap peer Hochschild Mining was off 2.1%.
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FTSE 250 - WINNERS
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Elementis, up 7.0%. The speciality chemicals company said it has agreed to acquire US personal care chemicals company SummitReheis for USD360.0 million. Elementis is acquiring the company from an affiliate of US investment firm One Rock Capital Partners for USD360.0 million in cash. It expects the deal to be accretive to earnings in 2017 and to provide double-digit earnings accretion in 2018.
Dunelm Group, up 3.5%. The furniture and homewares retailer was upgraded to Buy from Add by Numis. The broker was bullish on Dunelm's prospects due to its acquisition of home and garden furniture retailer WorldStores, saying it would improve the customer proposition at Dunelm. "We see value, given the quality of Dunelm's core operation alongside the growth opportunity afforded by the integration of Worldstores' capabilities," Numis said.
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FTSE 250 - LOSERS
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Just Eat, down 7.1%. The online takeaway platform said Chief Executive David Buttress is to step down. The group said Buttress will remain in the role full time until the end of the first quarter of 2017, at which time Chairman John Hughes will become executive chairman. Just Eat said it has started the search for a replacement for Buttress, who has agreed to remain a non-executive director of the company for a minimum of a year after his departure.
RPC Group, down 6.6%. The plastic products maker was extending losses from Thursday after closing down 5.8%. RPC on Thursday said it will pay up to USD640.0 million for US plastic packaging company Letica and will back the deal with a GBP552.0 million one-for-four rights issue.
Senior, down 2.1%. The engineer was cut to Sell from Hold by Panmure Gordon. The broker thinks Senior will continue to face uncertainty on demand, issues in its supply chain and pricing pressures in 2017 and beyond. As a result, its shares will continue to trade at a discount to the engineering sector.
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MAIN MARKET AND AIM - WINNERS
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FIH Group, up 24% at 293.00p. Staunton Holdings said it has agreed a GBP37.3 million deal to acquire UK-listed FIH, which owns businesses in the UK and Falkland Islands. FIH, formerly called Falkland Islands Holdings, will be acquired by Staunton for 300.00 pence per share, a 27% premium to its closing price on Thursday and a 42% premium to its volume-weighted average price for the 12 months leading up to Thursday. FIH owns the Portsmouth Harbour Ferry Co and owns art transport and storage service Momart. Blackfish Capital, an associate of Staunton, already owns a 23% stake in FIH. Staunton is a private firm incorporated in Guernsey and is ultimately controlled by the Rowland Purpose Trust 2001.
Amur Minerals, up 12%. The miner said it has substantially increased its mineral resource estimate at its Kun-Manie nickel-copper project. Amur said an independent resource update has put the Kun-Manie resource at 101.3 million ore tonnes with a nickel equivalent of 1.03%, equating to 1.04 million tonnes of nickel. Amur noted this is a 46% increase in ore resource and a 38% increase in nickel. Amur said around 81.2 million tonnes of ore is now classified as Measured and Indicated, and can converted into Mining Ore Reserves for inclusion in a mine plan.
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MAIN MARKET AND AIM - LOSERS
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Boxhill Technologies, down 20%. The lottery operator said it has seen a second-half slowdown in its payments business, as it proposes to acquire a payments software firm. Boxhill said its EmexPay business "slowed" in the second-half due to new regulations from card scheme operators and acquiring banks, restricting certain suppliers from providing the "full range" of credit card transactions. Boxhill also noted it has agreed heads of terms to acquire Timegrand, a special purpose vehicle which holds payments intellectual property and software. Boxhill said the acquisition will improve turnaround times for administration and reconciliation activities, as well as internal reporting capabilities. Boxhill said the acquisition will be paid for by issue of 500.0 million new shares, and is expected to complete in the first quarter of 2017.
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By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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Related Shares:
HochschildJust EatRandgold ResourcesAMC.LDunelmFresnilloElementisBoxhill TechnologiesRpc GroupFih Group