(ShareCast News) – The FTSE 250 was down 0.10% to 17,506.64 in late afternoon trade.
Integrated security company G4S‘s shares were up after it announced its progress for the nine months to 30 September on Wednesday. The group won new contracts with annual revenues of £1bn and total contract value of £2bn in that period. The firm said revenues from continuing operations during the nine months were £4.82bn, up 5.7% compared with the same period last year.
Pharmaceutical company Indivior increased its full year revenue guidance to reflect faster growth in the USA and also recorded a $220m charge relating to antitrust litigation currently going through the courts, sending its shares up. The addiction drug group reported revenues of $268m for the third quarter to 30 September, up 4% versus the same period last year or 5% on constant exchange rates.
Ireland’s Smurfit Kappa rose after it reported an increase in revenue in the third quarter. The corrugated packaging company remains on track to deliver record earnings before interest, tax, depreciation and amortisation (EBITDA) for the year.
Shipping services provider Clarkson‘s stock went up after The Daily Telegraph´s Questor team singled it out as a stock worth picking up for those who are willing to be “paid to wait” given the stock’s dividend yield.
“With a strong balance sheet and strong free cash flow, Clarksons is well placed to weather the storm and gain market share, benefiting from the recovery that we expect to emerge as supply is recalibrated to demand growth,” Kames UK Smaller Companies fund manager Elaine Morgan told Questor.
Pub chain JD Wetherspoons however took a dive after it said its outlook for the full year remained unchanged after a first quarter in which like-for-like sales increased 3.5% but dropped 2.3% in the latter five weeks of the period.
OneSavings Bank‘s shares fell, with traders attributing the move to profit-taking following a strong share price performance in the run-up to the results. The company reported a yearly performance in line with expectations. RBC Capital Markets downgraded the stock to ‘sector perform’ from ‘outperform’ and kept its price target at 305p. The analysts believe that the bank’s positive attributes are now largely reflected in the share price. “Our unchanged price target only offers an 8% implied all-in return, thus we downgrade to Sector Perform.”
Peel Hunt downgraded Kaz Minerals to ‘hold’ from ‘add’ after its third-quarter production report but upped the price target to 275p from 200p as it took a look at the copper sector, sending its shares lower. “While Kaz Minerals is likely to see strong EBITDA growth in 2017 and 2018 irrespective of the copper price move, in the short term we believe the shares have run too far.”
Ladbrokes fell after Investec released a note on the UK gambling sector, saying it is facing “challenging times” due to an increasingly tough regulatory backdrop and an uncertain economic outlook over the the next 12-18 months. The analysts downgraded the group to ‘add’ from ‘buy’.
Weir Group‘s shares fell as shareholders continued to react to a profit warning released on Tuesday. The firm said full year profits were now anticipated to be slightly lower than current market expectations, although continued strong cash generation was still expected in 2016.
G4S (GFS) 240.30p 9.18%
Indivior (INDV) 335.10p 5.81%
Sports Direct International (SPD) 290.00p 4.96%
Smurfit Kappa Group (SKG) 1,835.00p 4.26%
NCC Group (NCC) 201.00p 3.55%
Serco Group (SRP) 139.30p 3.41%
CMC Markets (CMCX) 193.10p 2.17%
Acacia Mining (ACA) 547.00p 2.15%
Ascential (ASCL) 291.80p 2.06%
Clarkson (CKN) 2,015.00p 2.03%
Wetherspoon (J.D.) (JDW) 858.50p -3.32%
Hunting (HTG) 474.50p -3.28%
OneSavings Bank (OSB) 282.60p -3.12%
Henderson Group (HGG) 223.20p -2.91%
Kaz Minerals (KAZ) 277.70p -2.77%
Shawbrook Group (SHAW) 214.70p -2.72%
Ladbrokes Coral Group (LCL) 133.50p -2.70%
Aberdeen Asset Management (ADN) 307.60p -2.69%
Weir Group (WEIR) 1,619.00p -2.47%
Tullow Oil (TLW) 258.90p -2.30%