Share Prices & Company Research

Market News

20 May 2019 | 12:01

FTSE 100 sinks with housebuilders under pressure

The FTSE 100 was down 0.9% by midday at 7,282.50 as global market sentiment weakened. Housebuilding stocks were under the cosh, Barratt Developments leading the way lower with a 3% decline on weak UK house price data.

Travel operator Thomas Cook continued to tumble to fresh lows amid ongoing fears over the company's financial position, the shares down a further 17.1%. Rival TUI also fell 3.6%.

LARGE AND MID CAP RISERS AND FALLERS

Budget carrier Ryanair descended 3.3% after it booked a 29% fall in annual profit.

The company also delayed delivery of its first Boeing 737 MAX aircraft and guided for flat profits in the current year amid a 'cautious' outlook for ticket pricing.

IT infrastructure product and services provider Softcat gained 2.6%, reversing earlier losses, as it forecast full-year results 'slightly ahead' of previous expectations.

Healthcare investor Syncona gained 1.2% on news that it had founded new cell therapy company Quell Therapeutics with a £35m funding commitment.

SMALL CAP RISERS AND FALLERS

Performance materials supplier Low & Bonar tumbled 24% after it warned on profits and announced the departure of chief executive Philip de Klerk.

London and southeast England focused property investor McKay Securities posted a 70% fall in annual profit, owing to lower rises in the value of its investments. Adjusted profit, however, rose 2.3%, the dividend rose 2.8%. Its shares were unchanged.

Support services firm WYG gained 234.4% on a recommended cash offer of £43.4m from Tetra Tech.

Story provided by StockMarketWire.com
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