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Market Wrap - Market Open

Markets mixed on Tuesday ahead of Fed Meeting

19 September 2017 09:07

Markets were mixed on Tuesday, ahead of the Fed’s policy announcement expected later today. London opened slightly higher, with the FTSE 100 up 0.52% to 7253.28 at 8:30 a.m. Asian shares were supported somewhat by record highs on Wall Street on Monday.

Japan's Nikkei surged 1.5%; MSCI’s Asia Index dropped 0.1%. The Shanghai Composite was flat and the Hang Seng was little-changed.

Wall Street closed with record highs on Monday. The Dow Jones Industrial Average rose 63.01 points, or 0.28%, to 22,331.35. The S&P 500 gained 3.64 points, or 0.15%, to 2,503.87 and the Nasdaq Composite added 6.17 points, or 0.1%, to 6,454.64.

On the London Stock Exchange, biggest gainers included Speedy Hire (SDY) (5.37%), Interserve (IRV) (3.9%) and Northgate (NTG) (2.4%) were among the biggest gainers on Tuesday, while biggest losses were seen at Ocado (OCDO) (4.6%), PureCircle (PURE) (4.2%) and Petra Diamonds (PDL) (3.5%).

Ocado saw a 13.1% revenue growth in a 13 week period, but dropped 5.3% after flagging rising costs and lower average basket size.

Speedy Hire revenues up about 7.5% from previous year, driving its shares up 4.74%.

DP Eurasia (DPEU) adjusted earnings were up 26.4%, but the stock declined 3.88%.

Reckitt Benckiser (RB.) chairman Adrian Bellamy is to leave the consumer goods giant in 2018, to be replaced by former Mattel boss Christopher Sinclair. Reckitt's shares fell by 0.7%.

Asiamet Resources (ARS) has started drilling to test multiple high potential targets identified in the BK District, pushing its stock price up 2.5%.

Escher (ESCH) plunged into the red in the six months to the end of June as revenues and software licence sales fell – its shares were down 2.4%. Story provided by StockMarketWire.com

Related Company: SDY

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