11th Jun 2019 10:51
LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Tuesday.----------FTSE 100 - WINNERS----------Antofagasta, up 2.5%, BHP Group, up 2.1%, Rio Tinto, up 1.8%, Glencore, up 1.7%, Anglo American, up 1.5%. The miners were among the best blue chip performers amid higher copper prices and hopes of economic stimulus in China. Chinese stocks rallied after Beijing said it would allow local governments to use proceeds from special bonds as capital for major projects including highways, gas and power supply and railways. "Yesterday's global equity market rally has continued into Tuesday thanks to Asian stocks being led higher by the prospect of new government stimulus in China. Expectations for greater infrastructure spend naturally gave a lift to natural resources stocks on the UK market as investors bet on increased commodities demand," said AJ Bell's Russ Mould. Halma, up 2.0%. The hazard detection and life protection systems specialist said it expects to make "good progress" in its new financial year, following double-digit earnings growth in its recently ended one. Halma reported revenue growth of 13% in the year to the end of March to GBP1.21 billion from GBP1.08 billion a year before, in line with market expectations. On an organic constant currency basis, revenue climbed by 10%. Pretax profit rose 20% to GBP206.7 million from GBP171.9 million, slightly behind consensus forecast of GBP207.8 million. On an adjusted basis, pretax profit increased by 15% to GBP245.7 million, ahead of analysts' expectations of GBP243.1 million and within Halma's guidance range of between GBP240.1 million and GBP253.4 million. Halma declared a final dividend of 9.60 pence a share, up 7% from 8.97p paid the year prior, taking the total payout to 15.71p, also up 7% year-on-year. Halma added that it expects to make good progress in the year ahead.----------FTSE 100 - LOSERS----------Compass Group, down 0.8%. The contract caterer said it has agreed to acquire Fazer Food Services for an enterprise value of EUR475 million. Fazer Group is a Finnish food company that produces bakery, confectionery, biscuit and grain products, plant-based meals, and non-dairy products. Over the twelve-month period to the end of April, Fazer generated earnings before interest, taxes, depreciation, and amortization of EUR39.8 million on revenue of EUR593.0 million. Initial cash consideration is estimated to be EUR420 million with the remaining deferred consideration payable within seven years. The transaction will be financed using cash and existing credit facilities, Compass said.----------FTSE 250 - WINNERS----------Saga, up 3.9%. The over-50s insurance and holiday services provider said it has joined hands with the consumer banking unit of US-based investment bank Goldman Sachs to launch new savings products in the UK market. Saga said Marcus by Goldman Sachs will become Saga's new long-term savings partner. Together, the companies plan to launch new new products from autumn 2019. "This announcement is one of several strategic initiatives by the group that are aimed at returning Saga to its heritage of delivering high quality products and services to its customers," Saga said.----------FTSE 250 - LOSERS----------Ted Baker, down 27%. The fashion retailer said it expects annual profit to decline as trading conditions have been "extremely difficult" in the year-to-date. Ted Baker now anticipates its underlying pretax profit for the year to the end of January 25, 2020, to be in the range of GBP50 million to GBP60 million. In financial 2019, which ended on January 26, Ted Baker reported pretax profit before exceptional items of GBP63.0 million. The company noted that its performance reflected "difficult and unpredictable" trading conditions, unseasonable weather experienced across North America, and the highly promotional retail environment across its global markets. In addition, Ted Baker said it experienced "some challenges" with its spring/summer collections.----------OTHER MAIN MARKET AND AIM - WINNERS----------Venn Life Sciences Holdings, up 89% at 5.00p. The drug development company said it has conditionally raised GBP4.5 million before expenses through a share placing as its loss widened in 2018. The AIM-listed company said it issued 80.4 million shares at a price of 5.6 pence each, representing about 32% of its enlarged share capital upon admission, at which time it will have about 253 million shares. Turning to annual results, the company reported a pretax loss of EUR5.0 million for 2018, compared to EUR1.8 million a year earlier, as revenue fell to EUR13.9 million from EUR17.4 million. Looking ahead, Venn said it has experienced a continuation of prior year trends in its recently commenced financial year, with low utilisation resulting in revenue and earnings before interest, taxes, depreciation and amortization being behind management forecasts for the year-to-date.----------OTHER MAIN MARKET AND AIM - LOSERS----------mporium Group, down 35% at 0.96p. The marketing technology company said it has raised GBP1.5 million through a share subscription from existing investors as it plans a "major" restructuring. The company said it has issued 150 million shares at a price of 1 pence each. Upon completion of the subscription, the company said its investors will receive 150 million warrants exercisable between December 10 this year and December 10, 2021, with a subscription price of 1.5p per warrant. mporium said it plans to begin a "major" restructuring with immediate effect that will refocus the business on the performance-led MporiumX division due to underperformance in the Agency division. Reflecting the new organisational structure, Tom Smith will be promoted to group managing director and will be responsible for execution of the restructured business. Smith has been head of the Biddable Media division at mporium since April 2017. ----------