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Market Wrap - Market Open

Go-⁠Ahead operating profits fall as miners weaken

07 September 2017 09:21

In the FTSE 250, Southern train operator Go-?Ahead (GOG) disappointed the market after operating profits fell by 7.4% to £150.6m in the year to 31 July 2017.

While the results were in line with its forecasts, shares in the company slumped by nearly 6% to £16.56.

In the FTSE 100, weakness in mining stocks threatened to tip the blue-chip index into the red.

BHP Billiton (BLT) was the biggest faller with a 1.9% decline to £14.54. Glencore (GLEN) and Antofagasta (ANTO) followed with a drop of 0.5% and 1.3%.

Overall the blue-chip was flat at 7,364.

Brent crude oil rose 0.5% to $54.50 per barrel. Gold gained 0.2% to $1,336 per ounce and copper cheapened 0.7% to $6,856 per tonne.


AstraZeneca (AZN) was up 1% at £46.19 on a study that showed Duaklir significantly improves lung function in chronic obstructive pulmonary disease patients. The pharma company also reported a trial showing that tezepelumab cuts exacerbations in severe asthma.


ZPG (ZPG), previously known as Zoopla, conditionally agreed to acquire for £80m on a cash-free, debt-free basis, as well as a performance-based earn-out of up to £60m. The news lifted shares in the online estate by 4.3% to 370.2p.


On AIM, Chariot Oil & Gas Limited (CHAR) was a winner as its shares surged 16% to 13p after the oil and gas firm assigned a drilling rig for its upcoming RD-1 well to target the JP-1 prospect.

More than two-fifths of Havelock Europa's (HVE) value was wiped off on a profit warning. The interior design services company blamed delays in starting work for key customer and lower than expected orders from the public sector. It said results 'will fall significantly below expectations' in the year to 31 December 2017.

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Related Company: GOG

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