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Economic News

FTSE weaker as pound strengthens

17 August 2017 08:49

The FTSE 100 lost 7.18 points to 7,425.46 on Thursday morning after a split among US monetary policymakers strengthened the pound.

Kingfisher (KGF) lost 2.6% to 299.4p on a 1.9% fall in like-for-like sales to £3.1 billion in the second quarter with B&Q's seasonal performance down by 11%.

Casino operator Rank Group (RNK) fell 3.8% to 230.5p after reporting like-for-like revenue increased by just 1% to £754 million in the year to 30 June, as venues like-for-like revenue fell 1% in a challenging retail environment.

Hikma Pharmaceuticals (HIK) plunged 8.77% to 1,212.5p after total operating profits fell 2% to $113 million, with basic earnings per share 3% lower in constant currency.

Gem Diamonds' (GEMD) underlying EBITDA fell to $13.0 million in the six months to the end of June - down from US$43.5m last time. The shares edged up 0.17% to 78.13p.

Landscape products group Marshalls (MSLH) grew its profit before tax by 16% to £29.1 million in the first half, with revenue 8% higher at £219.1 million, driving the shares up 3.56% to 414.75p.

KAZ Minerals' (KAZ) gross revenues increased by 2.3 times to $837m in the six months to the end of June on higher volumes and commodity prices. The shares added 0.18% to 708.75p.

Flying Brands' (FBDU) operating losses rose to £192,000 in the six months to the end of June from £125,000 last time, sending the shares 2.86% lower to 4.25p. At 8:49am:

(LON:GEMD) Gem Diamonds Ltd share price was -0.37p at 77.63p

(LON:HIK) Hikma Pharmaceuticals PLC share price was -100.5p at 1228.5p

(LON:KGF) Kingfisher PLC share price was -10.25p at 297.15p

(LON:MSLH) Marshalls PLC share price was +14.45p at 414.95p

(LON:RNK) Rank Group The PLC share price was -9.55p at 230.05p

Story provided by StockMarketWire.com

Related Company: KGF

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