Share Prices & Company Research

Market News

10 Apr 2019 | 12:01

FTSE continues to flatline ahead of key EU summit

The FTSE 100 was more or less flat by midday at 7,431.65 and pretty much unchanged from the start of this week.

Sterling enjoyed gains ahead of tonight's crucial meeting of EU leaders as they weigh a decision on a potential Brexit delay.

US futures suggest shares will recover a bit of the ground lost yesterday on Wall Street despite the background noise from the country's trade disputes with the EU and Canada.

LARGE AND MID CAP RISERS AND FALLERS

Tesco gained 2.8% after the supermarket giant beat expectations with a 29% jump in annual profit to £1.67bn and almost doubled its dividend.

Pharmaceutical company Indivior crashed 77.4% after it was charged with criminal offenses in the US including mail, wire and health fraud. The company denied the allegations. Former parent company Reckitt Benckiser fell 5%.

Rolls-Royce fell 0.7% on revealing that it would start inspecting Trent 1000 TEN aircraft engines, after blade deterioration was identified in a 'small population' of the products.

Stagecoach reversed 1.7% after it was disqualified by the UK government from three rail franchise competitions because it had submitting non-compliant bids mostly related to pensions risk.

Homewares retailer Dunelm advanced 2.7% after it upgraded its profit outlook, thanks to a stronger market and the closure of its Worldstores businesses.

Online retailer ASOS rose 10.2% as the company stuck to its annual sales and margin guidance, while posting an expected slump in first-half profit owing to investment spending.

Fashion retailer Ted Baker gained 2% on news that it had agreed to form a joint venture for the Chinese market with Shanghai LongShang Trading Company.

AstraZeneca dipped 0.2% after it and partner Merck gained European regulatory approval for a breast cancer treatment.

Retirement home developer and manager McCarthy & Stone fell 0.6% as it posted a 66% drop in first-half profit, after rising revenue was offset by restructuring costs.

Recruitment company PageGroup gained 4.8% on the back of an 11% rise in first-quarter gross profit, driven by strong growth in overseas markets.

SMALL CAP RISERS AND FALLERS

Cosmetics retailer Warpaint London shed 2% after it booked a 32% fall in annual profit, hurt by acquisition-related and impairment expenses.

Story provided by StockMarketWire.com
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