Share Prices & Company Research

Market News

02 Apr 2019 | 16:49

FTSE 100 rises on falling pound

Rising concerns over a potential no-deal Brexit and a lack of updates from Prime Minister Theresa May's latest Cabinet meetings weighed on sterling, helping the FTSE 100 jump 1% to 7,391.

US equities were more subdued as all the stock markets were in the red at around 4:45pm UK time.

Brent crude oil rose 0.4% to $69.33 per barrel.

LARGE AND MID CAP RISERS AND FALLERS

Shares in fashion retailer Superdry fell 8.7% to 500p after shareholders voted to return founder Julian Dunkerton to the board despite the current management's objections.

Rolls Royce dipped 1.1% to 907p on reports of engine problems after Singapore Airlines said it recently grounded two Boeing 787 jets.

Miner BHP lowered its iron ore production estimates as the impact of Tropical Cyclone Veronica reduced production by approximately 6m to 8m tonnes. The shares were broadly flat.

Building materials group CRH completed the fourth phase of its share buyback programme, returning a further €200m of cash to shareholders. The shares ticked up 0.5%.

Budget airline Wizz Air gained 4.7% as it said it expected to report full year profit at the upper end of current guidance.

Housebuilding and construction group Galliford Try signed an agreement with Homes England to build more than 850 homes across key sites in Redcar, Cheshire, Staffordshire and Dorset. The shares were up 1.6%.

SMALL CAP RISERS AND FALLERS

Hostel online booking platform Hostelworld was up despite falling revenue and profit as it outlined a new growth plan. The shares rose 2.4%.

Gear4music warned on profits as product margins took a hit from increased costs and rising competition offsetting a 36% jump in sales for the 13 months through March 2019. The shares fell 4.1%, paring earlier heavier losses.

Polling and research firm YouGov slipped 4.5% despite reporting an 18% increase in revenue and 41% increase in operating profit for the first half. The shares have been strong so far this year.

DP Eurasia, master franchisee of the Domino's Pizza brand in Turkey, Russia, Azerbaijan and Georgia, swung to annual loss as a jump in sales was offset by higher costs and a slump in the Turkish lira. The shares ticked up 0.9%.

Shares in womenswear shop brand Bonmarche dropped 33.3% as retail entrepreneur Philip Day makes a £5.7m bid, below the company's current market value.

Story provided by StockMarketWire.com
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