19th Apr 2018 10:50
LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Thursday.----------FTSE 100 - WINNERS----------WPP, up 4.2%. The advertising firm was enjoying a positive read-across from Publicis after the French peer's first quarter revenue growth topped forecasts. Organic growth was 1.6% in the first-quarter of 2018 as Publicis reaped the benefits of accounts gained in 2017, notably McDonald's, Diesel, Lionsgate, Bradesco and Southwest. "Fears about a further weakening of the advertising market were allayed somewhat as rival Publicis unveiled a good start to 2018," said IG Group's Chris Beauchamp.Rentokil Initial, up 2.5%. The pest control company said trading has started well across in the first quarter with ongoing revenue increasing by 15.7% to GBP545.9 million. Including disposed business, the figure fell 5.1% to GBP550.7 million. Organic growth was 3.2%, slightly higher than the fourth quarter of 2017's 3.1%, with the figures affected by cold weather in March and hurricanes in September in the US and Caribbean respectively. Looking ahead, Rentokil said it is expecting a GBP10.0 million to GBP15.0 million hit to profit due to foreign exchange, as guided before. It bought 11 pest control firms in the first quarter, and it expects to spend another GBP200.0 million to GBP250.0 million on further takeovers in 2018. "I am pleased with our performance in the first quarter and we are well-positioned for another year of successful growth. We are confident that the Company will deliver a performance in line with market expectations for 2018," said Chief Executive Andy Ransom.----------FTSE 100 - LOSERS----------Standard Life Aberdeen, down 3.8%, Lloyds Banking Group, down 2.7%, BAE Systems, down 2.1%, Informa, down 1.5%, Croda International, down 1.2%. The stocks went ex-dividend meaning new buyers no longer qualify for the latest dividend payout.Unilever, down 2.3%. The Anglo-Dutch consumer goods firm reported a drop in revenue for its first quarter, though it leavened this with the announcement of a share buyback of up to EUR6.00 billion. For the three months to March, total revenue was EUR12.62 billion, down 5.2% year-on-year from the EUR13.32 billion it posted for the same period a year prior. Foreign exchange hit the figure by 9.8%. Split geographically, Unilever's revenue in Europe fell 1.8% to EUR2.97 billion; in the Americas it slipped 10% to EUR3.93 billion; and in Asia, Africa, the Middle East & Turkey, and Russia, Ukraine & Belarus, the figure dropped 3.4%. Europe remains challenging, Unilever said, due to weak consumer demand, price deflation, and a difficult retail environment hitting operations, especially in France.----------FTSE 250 - WINNERS----------Weir Group, up 6.2%. The pumps and valves maker announced a share placing representing up to 7.4% of its existing share capital, worth 16.7 million new shares, at an unspecified price, to part-fund a new US acquisition. Weir is buying ESCO, a surface mining ground engaging tools firm based in Portland, Oregon, for an enterprise value of USD1.29 billion. Of this, 59% will be in cash, funded by the placing, with the rest in Weir shares. Further, Weir is also to sell its Flow Control business, though it said proceeds would not be expected to be received before 2019. First quarter trading has been good, Weir said, with orders up 22% year-on-year, and all divisions have performed ahead of the year before.----------FTSE 250 - LOSERS----------Ultra Electronics, down 8.9%. The defence and technology company's shares were lower after it said the UK Serious Fraud Office is to investigate its operations in Algeria. The SFO has begun a criminal investigation into "suspected corruption" by Ultra in the north African country after a voluntary self-report, and the company said it is continuing to cooperate. It is too early, Ultra added, to assess the impact this may have on the company.Intu Properties, down 4.5%. Barclays downgraded the shopping centre operator to Underweight from Equal Weight. On Wednesday, peer Hammerson called off its GBP3.40 billion takeover of smaller rival Intu due to concerns about the health of the UK retail sector. Hammerson was up 0.6%, as Barclays raised Hammerson to Equal Weight from Underweight.John Laing, down 2.7%, Inmarsat, down 2.4%, Greggs, down 1.9%. The stocks went ex-dividend.----------OTHER MAIN MARKET AND AIM - LOSERS----------Debenhams, down 2.5%. The department store chain reported a significant fall in both reported and underlying pretax profit in its financial first half amid a difficult environment, with "extreme" wintry weather in the last week of its six months to March 3 especially hitting figures. Additionally, Chief Financial Officer Matt Smith is to leave the firm to join rival shop-keeper Selfridges. A search has begun for a successor. Underlying pretax profit was down 52% to GBP42.2 million, while reported pretax profit plunged 85% to GBP13.5 million. Debenhams gross transaction value fell 1.6% to GBP1.65 billion, and Ebitda was down 31% to GBP103.5 million. Like-for-like sales were down 2.2% in a "challenging" UK market. The company more than halved its interim dividend to 0.50p per share from 1.025p.----------Related Shares:
InmarsatLloydsSLA.LJLG.LGreggsDebenhamsBAE SystemsWeir GroupRentokil InitialINTU.LWPPCroda InternationalCroda Int.6.6pf