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Geopolitical concerns and strong pound stall FTSE 100

26 September 2017 16:50

Geopolitical concerns kept the FTSE in the red as investors were worried that tensions between the US and North Korea could escalate.

A stronger pound against the euro also weakened the blue-chip index, which derives approximately 70% of its earnings overseas.

The FTSE closed 0.2% down at 7,285.

Brent crude oil dropped over 1% to $58.34 per barrel. Gold fell 0.6% to $1,298 per ounce and copper cheapened 0.8% to $2.89 per pound.


On Wall Street, tech firms bounced back from concerns that share prices in the sector were flying too high. The Nasdaq was up 0.2% at 6,386 this afternoon.


News that publishing house Informa (INF) will acquire Dove Medical Press failed to move the share price at 664p.

Greetings cards seller Card Factory (CARD) dropped 18.3% to 290p after revealing a 13.9% fall in first-half operating profit to £24.6m due to currency movements, the national living wage and investments.

Investors were also disappointed in insurer AA's (AA.) latest half year results, down 6.4% to 157p. Earnings before interest, tax, depreciation and amortisation (EBITDA) margin nudged lower to 41% and brokers downgraded expectations.

Shares in Thomas Cook (TCG) drifted 1.2% lower to 119.4p after it left full year underlying earnings before interest and tax outlook unchanged. Winter booked sales rose 6%, driven by growing demand from travellers for Turkey and North Africa.

Irn-Bru manufacturer AG Barr (BAG) hiked its interim dividend by 5% to 3.7p and reported an 8.8% sales increase to £136.6m in the six months to 31 July. Despite the decent results, the stock was flat at 614p.

Investors expected more from merchant bank Close Brother (CBG), which fell 6.8% to £14.16 despite adjusted operating profit rising 13% to £264.8m in the year to 31 July.


Magazine publisher Time Out (TMO) booked an interim operating loss of £15.6m thanks to further investment in its digital offering. The market overlooked a 13% jump in sales to £18.7m as shares in Time Out advanced 0.7% to 142p.

News that MobilityOne's (MBO) international remittance services in Malaysia and operations in the Philippines are not expected to make a significant contribution in the second half of 2017 hit the share price hard. It was the biggest small cap faller, down 20.7% to 3.9p.

Successful flow tests and first production gas at Logbaba well La-10 bode well for Victoria Oil & Gas (VOG). The gas utility firm surged 10.2% to 70p on the news. Story provided by

Related Company: INF

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