Stocks on the rise in the UK today. Compiled by Dow Jones Newswires Markets Desk, markets.eu@dowjones.com0908 GMT Shares of Mobile Streams PLC are trading 20% higher at 6.08p after the company reiterated that it expects to report an Ebitda before share-based compensation in line with market expectations, despite revenue falling 40%. The emerging markets focused mobile media company said revenue for the year ended June 30 was GBP29M, compared with GBP48.6M a year earlier. The company blamed the devaluation of the Argentinean Peso in January 2014 and subsequent operational challenges for the fall in revenue. (ian.walker@wsj.com; @IanWalk40289749)
0908 GMT It's premature to say whether troubled Russian gold miner Petropavlovsk PLC is out of the woods yet, says brokerage house Whitman Howard in a note. The broker notes that the results are encouraging with net debt and cash costs forecast to fall notably by year end. But "things are not all sweetness and light," the broker notes. Petropavlovsk warned that its 680,000 oz gold production target is still achievable this year, but there might be downside risks as the company focuses on those projects that deliver the most cash, rather than the most ounces. "This may have an impact on the carrying value of some of those projects," Whitman Howard notes. Petropavlovsk's shares up 3.2% at 6.5 pence a share.(alex.macdonald@wsj.com)
0853 GMT Goodbody Stockbrokers says GVC Holdings PLC has clearly not thrown in the towel over a possible deal with Bwin.Party Digital Entertainment PLC. bwin snubbed GVC's Jul 9 offer of 110 pence per share, and accepted 888's subsequent lower offer of 104.09 per share. Still, the bid from 888 doesn't become binding until August so GVC has time to make another offer, Goodbody says. GVC shares up 8p, or 1.95%, at 417.5p; 888 is down 0.6% at 170p and bwin is down 0.1% at 106p. (ian.walker@wsj.com; @IanWalk40289749)
0839 GMT [Dow Jones]--Petropavlovsk has delivered "a brave [first half] performance in the circumstances, but we believe all eyes will be on the gold price," says mining analyst Nick Hatch at Canaccord Genuity. The company reaffirmed its ability to meet its full-year production target of 680,000oz of gold but noted that it will maintain flexibility on the target to maximize cashflows and minimize operational expenses as it pays down net debt to $600 million by year-end. This most likely takes into account the recent gold price drop to a more than five-year low this week, Canaccord notes. Petropavlovsk up 3.2% at 6.5 pence a share. Spot gold broadly flat at $1106/oz. (alex.macdonald@wsj.com)
0801 GMT [Dow Jones]--AO World is the biggest FTSE 250 riser after the online retailer of domestic appliances said it made a strong start to trading in July and is encouraged by the indications of growth in housing transactions and disposable income. The company, which issued a profit warning in February, said revenue growth in the U.K. business for the three months ended June 30 was 6.5%. Shares +10% at 131.6p. (jana.simmons@wsj.com)
0754 GMT Shares in ECR Minerals PLC jump after the gold miner announced positive results from trenching and pit tests at the Itogon gold project in northern Philippines. The test results from eight areas, seven of which hadn't been previously disclosed, showed gold grades of up to 4.36 grams of gold per ton of ore from one 11-meter trench. ECR Minerals' shares rose 17% at 0.07 pence a share. (alex.macdonald@wsj.com)
(END) Dow Jones Newswires
July 21, 2015 05:08 ET (09:08 GMT)
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