Risers and fallers – 10/12/13

Risers: 

Lloyds Banking Group +0.98%

Lloyds has today announced that 109 million shares in St. James’s Place have been placed at 630p each, raising £680m. The bank, which is 33% owned by the Government, said they are to sell their remaining 21% stake in the wealth manager in a move that will increase the bank’s common Tier 1 capital which measures the bank’s health. 

Smiths Group +2.50%

Specialist equipment maker, Smiths Group, has today had it stock rating raised from “Equalweight” to “Overweight”. The firm was leading the FTSE 100 after the opening bell, up 2.5% at 1,411p. 

CSR +8.43%

Software and chipmaker company, CSR, has today upgraded its Q4 revenue expectations after halting development of products for digital cameras, or camera-on-a-chip platform due to the weak digital camera market. The weakness in this market is said to be eroding because of imaging technology which now comes with a smartphone. 

Ashtead +1.86%

Equipment and rental company, Ashtead, has today posted a 41% rise in Q2 pretax profits to £110.4m compared to £77.6m a year earlier. The firm also expects FY profits to be at the higher end of their expectations. 

Prudential +1.38%

Life Insurance Company Prudential has today revealed an “aggressive” growth plan. The firm has said it expects a 15% annual pretax IFRS operating profit growth up to 2017. The company is also on track to double 2009 Asia new business profits by 2013 and has now met five out of six of their 2013 objectives. 

Fallers: 

BHP Billiton -1.18%

Mining giant BHP Billiton is looking to cut annual spending by 25% to $15bln which is significantly less than the $21.7bln it spent on projects last year. The firm is proposing this cut due to weaker commodity prices and to focus on its flagship operations. The company it set to focus on coal, iron ore, petroleum and copper. 

Peer TV -26.86%

Internet TV provider, Peer TV, has today said that due to interest payments, the repayment of debts and capital expenditure for expansion will result in them requiring external financing throughout 2014. The company has however stated they expect to be cash positive by Q2 in 2014. 

Ashley House -14.56%

Ashley House has today reported a wider H1 pretax loss to £0.8m, up from £0.5m. The health and community care property company has however said they still expect to meet profit expectations for the year. Revenue for H1 is £5.54m in comparison to £7.23m a year earlier. 

Fresnillo -1.31%

Mexican gold and silver miner, Fresnillo, has said today they expect their gold production to be 8.4% lower for 2013 due to a suspension of their explosives licence at some of their pits. The firm now expects to produce 425,900 ounces of gold, down from 465,000 ounces however silver production will be unchanged at 41 million ounces. 

Zytronic -11.43%

Touch sensor manufacturer, Zytronic, has today posted a 55% drop in 2013 FY pretax profit to £1.9m, substantially down in comparison to a year earlier of £4.2m. The company has recently raised their total dividend payment and has stated that trading in the 2 months of the current financial year is in line with expectations.