25th Jul 2016 09:24
LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Monday.
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FTSE 100 - LOSERS
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Randgold Resources, down 1.7%, Fresnillo, down 1.4%. The miners were tracking a lower spot gold price quoted at USD1,314.58 an ounce against USD1,323.19 at the London equities close Friday. Fellow gold miner Centamin was the biggest mid-cap faller, down 2.5%.
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FTSE 250 - WINNERS
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William Hill, up 7.5%. 888 Holdings and Rank Group confirmed they are evaluating a possible offer for fellow gaming company William Hill. Both 888 and Rank Group said they see "significant industrial logic" in the combination with William Hill, "through consolidation of their complementary online and land-based operations, delivery of substantial revenue and cost synergies and from the anticipated benefits of economies of scale which will accrue to all shareholders". William Hill said its board "would listen to and consider any proposal which might be forthcoming". Berenberg didn't believe William Hill would be a takeover target for any competitor, given its size and highlighted uncertainties surrounding the potential acquisition by 888 and Rank. Liberum said after the "turmoil" seen at William Hill with the departure of Chief Executive James Henderson, the takeover approach "reflects just how far William Hill has fallen of late", given that only last year it was attempting to take over 888. Rank Group shares were up 1.0% and 888 was up 3.0%.
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MAIN MARKET AND AIM - WINNERS
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Image Scan Holdings, up 26%. The X-ray screening systems supplier said it has secured a GBP750,000 order for its ThreatScan-LS1 portable X-ray system. Image Scan said the new contract, with an unnamed client in Asia, is set to be delivered in December. "We have the detailed planning in place, both internally and in our supply chain, to deliver these large orders and the whole company is focused on making them a success," said Bill Mawer, Image Scan's chairman and chief executive.
Petards Group, up 9.1%. The surveillance and security systems provider said it has won a further contract to supply Bombardier Transportation with its eyeTrain systems. Petards' eyeTrain technology provides on-board train video systems. The eyeTrain technology and Driver-Only Operation Systems will be fitted in new four-car Electrostar Electrical Multiple Unit trains to be built by Bombardier, a Canadian aerospace and transport engineer. The new contract is worth around GBP1.2 million, with Petards' deliveries expected to commence towards the end of 2016 and be completed by 2017.
Armadale Capital, up 6.4%. The natural resources sector investor said it has identified multiple conductive targets at the Mahenge Liandu graphite project in south-east Tanzania. This follows on from electromagnetic surveys conducted at the project as part of preparations for drilling, which is targeted to commence in six to eight weeks. Armadale said numerous conductive targets were identified over a strike length of 2.6 kilometres. The survey area was expanded to include a second zone of graphite schist unit, which has an electromagnetic anomaly with a 3.7km strike length.
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MAIN MARKET AND AIM - LOSERS
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NetDimensions (Holdings), down 27%. The learning systems provider said revenue for the first six months of the year was flat year-on-year but said delays in roll-outs had dragged on sales and would likely continue to do so in the second half. Revenue for the firm was broadly flat, while its adjusted earnings before interest, taxation, depreciation and amortisation loss was below USD1.0 million, compared to a loss of USD1.8 million the year before. NetDimensions said this was due to "better management of expenses", and expects this to benefit its full-year results. Chief Executive Jay Shaw said first-half sales were "somewhat lower" than expected due to delays in deal completions, which affected revenue growth in the six months to June and is likely to continue into the second half of the year.
Marechale Capital, down 8.7%. The corporate finance advisory firm said it swung to a loss in its recently-ended financial year due to delays in the completion of deals and lower gains than in the prior year, but said it is well-positioned to advance further in the year ahead. Marechale said it made a pretax loss of GBP91,092 in the year ended March 31, having made a pretax profit of GBP150,176 the year before. Revenue fell to GBP741,680 from GBP965,322, and it booked lower gains and finance income than the prior year. Investments in client companies resulted in gains of GBP19,000 compared with GBP72,000 the year before.
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By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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