UK stocks give up ground on political impasse

  • Thu 05 Sep 2019 13:10

    UK stocks fell on Thursday as political uncertainty and ex-dividends offset the impact of overnight gains on Asian markets.

    At 12:45, the benchmark FTSE 100 was 0.6%, or 47 points, lower at 7,264.

    LARGE- & MID-CAP MOVERS

    Top gainer on the main index was aerospace firm Melrose Industries up 6% to 197p after it said it was trading 'in line' with expectations for 2019 after increasing its half-year revenues and reducing its losses.

    Fast-fashion retailer Boohoo was the mid-cap star of the show surging 13.5% to 276p after it lifted its outlook on sales following better-than-expected performance in the first half of the year.

    House-builder Redrow added 1.3% to 573p as it registered a 10% increase in annual revenue and record profits on the back of an increase in completed new homes. It also said it was confident about its 2020 prospects even as it remained cautious about the post-Brexit future and increased the full year dividend.

    Ultra Electronics climbed 1.15% to 2,278p after it announced that current group finance director and board member Ami Sharma would step down with effect from 1st December 2019 and be replaced by Jos Sclater, current CFO of Castrol Lubricants.

    Hiscox edged 0.5% higher to £15.61 after it said it had appointed Joanne Musselle as its new chief underwriting officer.

    Dixons Carphone traded sideways at 114.5p after reporting flat like-for-like sales in its fiscal first quarter as falling mobile market revenues kept a lid on growth.

    William Hill shed 1.33% to 177.60p after it announced that current CEO and company director Philip Bowcock would step down with effect from 30th September and be replaced by digital expert Ulrik Bengtsson.

    SMALL-CAP WINNERS & LOSERS

    Specialist media platform Future jumped 10.4% to £13.16 after it said full-year core earnings were now expected to be 'materially ahead' of expectations following stronger-than-expected growth in core operations in the final quarter for the year.

    Filtration and environmental technologies group Porvair increased 2.1% to 578p after it said it had acquired 100% of Dutch industrial filtration business Royal Dahlman for a cash consideration of €7.75m.

    Transport operator Go-Ahead added 2.5% to £22.02, despite reporting annual profits down by a third, as results in its bus and rail division came in 'slightly' better than expected.

    Ceres Power gained 2.4% to 190p as it said it had developed a first prototype range extender for Chinese electric buses with Weichai Power.

    Animal genetics company Genus climbed 1.5% to £27.82 after it said annual profit rose by more than a quarter despite the challenging environment in China caused by the rapid spread of African Swine Fever.

    Automotive retailer Vertu Motors gained 1.3% to 34.6p after it said it had seen a continuation of the market trends it set out in its July update, including increasing price stability in the general used vehicle market since that time.

    Closed-end investment company Tritax EuroBox added 0.4% to 94p after it said it had completed a lease re-gear at its Bornem logistics facility in Belgium to Alcon-Couvreur, a global leading eye care company.

    International hospitality real estate company PPHE Hotel Group fell 0.5% to £17.30 even as it saw half-year revenue and earnings increase on the back of 'solid' operating performance from its UK hotel portfolio and said it still expected full-year performance to be in line with expectations.

    Personalised products marketplace Altitude slumped 37% to 57.5p after it warned that revenues for the second half of the year would miss expectations.




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Altitude Group (ALT)

49.50p 0.00p (0.00%) delayed 08:58AM
Price delayed by 15 minutes.

Boohoo.com (BOO)

270.25p +0.15p (+0.06%) delayed 09:46AM
Price delayed by 15 minutes.

Future (FUTR)

1,269.00p +1.00p (+0.08%) delayed 09:45AM
Price delayed by 15 minutes.

Melrose (MRO)

206.25p +1.25p (+0.61%) delayed 09:46AM
Price delayed by 15 minutes.

Redrow (RDW)

624.00p -2.00p (-0.32%) delayed 09:46AM
Price delayed by 15 minutes.