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Market Wrap - Market Open

FTSE dips as North Korea tensions rise

09 August 2017 08:55

The FTSE 100 dipped 0.44% to 7,509.5 on Wednesday morning amid tensions between the US and North Korea.

G4S (GFS) failed to impress, with the stock down 4.6% to 315.3p, despite delivering revenue growth of 6.2% and earnings growth of 7.6% in the six months to the end of June.

Likewise, Legal & General (LGEN) slipped 1.6% to 271.7p even though pre-tax profits grew 41% to £1.2bn in the first half.

Worldpay (WPG) added 0.51% to 385.55p after announcing it has agreed to a £9.3 billion merger with rival organisation Vantiv. The company also released first half results, revealing an 11% rise in net revenue and a 23% hike in the dividend.

Hastings (HSTG) added 1.49% to 326.5p on declaring it remained on track for another year of profitable growth. Gross written premiums rose by 28% to £462.0m in the first half and net revenue increased by 22% to £345.2m.

Lok'nStore (LOK) said its like for like revenue in its core self-storage business was up 5.5% for the year ending 31 July. The share price gained 0.93% to 381.5p.

Water Intelligence (WATR), a provider of leak detection and remediation solutions, surged 13.4% to 122.5p after announcing its sales were up 50% to $8.5 million in the first six months of the year.

Quanta Pharma (QP.) was another riser, adding 3.86% to 57.38p, after saying trading during the first half continued to be strong.

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