Share Prices & Company Research

Market News

30 Apr 2019 | 16:41

Sterling gains help put FTSE 100 in the red

As the pound moved higher on reports of progress in cross-party Brexit talks, the FTSE 100 fell, down 0.3% by the close at 7,418.22.

At 4.30pm UK time the S&P 500 was also lower, slipping 0.4% to 2,931.89, with Google parent company Alphabet dropping 9% on a disappointing set of results overnight.

LARGE AND MID CAP RISERS AND FALLERS

Oil giant BP gained 1.3% as its first-quarter profit fell on lower oil prices but nevertheless beat market expectations.

Miner and commodities trader Glencore shed 2.8% after it lowered its copper production guidance, blaming flooding in Australia's Queensland state.

Standard Chartered gained 4.9% after the bank announced a $1bn buyback, as it booked a 5% rise in first-quarter profit owing to fall in expenses and impairment charges.

Premier Inn hotel chain owner Whitbread fell 6%, despite proceeds from the sale of its Costa coffee chain underpinning a big jump in its annual profit.

The company, however, also said that demand had weakened at its remaining core hotels business, thanks to lingering Brexit uncertainty.

Prospective potash producer Sirius Minerals fell 19.7% as it announced plans to raise $400m by issuing new shares at a discount to the previous closing price to fund the development of its flagship project.

Pub group Greene King fell 7.6% after it forecast only a modest rise in annual profit, despite warmer weather boosting sales over the Easter period.

Adjusted profit was seen rising to between £244m and £247m, compared to the £243m posted a year ago, as cost inflation weighed.

Packaging company DS Smith fell 3.9%, despite announcing that it expected its margins to 'progress further' in the second half.

SMALL CAP RISERS AND FALLERS

Gift voucher provider Park tumbled 9.3% on warning that its annual profit would be 'marginally below' market expectations.

Story provided by StockMarketWire.com
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