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17 Apr 2019 | 12:05

FTSE retreats from six-month highs

By midday the FTSE 100 was down a handful of points at 7,462.45 having closed yesterday at its highest point in six months. UK inflation numbers came in below expectations, remaining steady at 1.9%.

US futures were pointing to a slightly higher open on Wall Street later on following the positive Chinese data released overnight.


Mining titan BHP fell 2.6% after it cut its iron-ore output guidance following cyclones in Australia's remote Pilbara region.

Car dealer Pendragon posted a loss in the first quarter after its sales margins shrank. Its shares fell 7%.

Healthcare services group Mediclinic International jumped 8% after it announced it would post a 3.5% fall in annual earnings, a shallower drop than what the market had feared.

Jet2 owner Dart Group falls 1.1% as it warns of a hit from Brexit uncertainty.

Outsourcing group Bunzl tumbled 10.2% on announcing that its revenue growth had slowed during the quarter due to mixed macroeconomic and market conditions.

Financial services company Quilter fell 0.8% despite its assets under management growing 5.1% in the first quarter, supported by market performance.

Utility services provider Telecom Plus dropped 2.3% on warning that its annual profit would be at the lower end of its previous guidance range.

Packaging group DS Smith gained 0.9% on the back of news that it had agreed to sell two packaging businesses in France and Portugal to International Paper for €63m. The deal satisfies a regulatory condition of its acquisition of Europac.

Property investor and developer Segro shed 1.5% after it secured £21.2m of new headline rent in the first quarter, though this was lower than the £27.3m secured on-year.

Home builder Countryside Properties gained 5.6% as it forecast improved completions in the second half.


Disease diagnostic kit supplier Omega Diagnostics dropped 0.9% as it warned of a full-year loss.

Georgian oil firm Block Energy gained 28% as the latest results from a very successful well in the country confirmed earlier positive results.

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