Share Prices & Company Research

Market News

18 Sep 2019 | 16:31

FTSE falls flat on strong pound ahead of US rates decision

As investors await the latest call on US interest rates the FTSE 100 closed broadly flat as strength in the pound weighed on the index.

In the US the S&P 500 was down 0.3% to 2,997.18 by 4.30pm UK time.

Defence firm Cobham dipped 0.5% to 159.75p as the Government announced a probe into national security concerns over its £4bn takeover by US private equity group Advent International.

LARGE AND MID CAP RISERS AND FALLERS

DIY group Kingfisher dropped 2.5% to 196.4p after it booked a fall in first-half profit, marred by another poor performance at its French unit. Sales also slid in the UK and Ireland as Brexit uncertainty weighs on consumer confidence.

Pharmaceutical firm AstraZeneca gained 0.7% to £69.37 as it assumed full responsibility for developing and commercialising the Linzess treatment for irritable bowel syndrome with constipation in China.

Auto dealer Pendragon slipped 9.4% to 9.89p after it booked a first-half loss, scrapped its dividend and warned on profits for the full year. The company also announced that chairman Chris Chambers would stand down at the start of October, meaning it is now looking for a new chairman and a new chief executive.

Table-top games firm Games Workshop gained 3.6% to £48.40 as it announced trading in line with expectations and flagged a 35p per share dividend.

SMALL CAP RISERS AND FALLERS

Cosmetics supplier Warpaint London gained 1% to 52p despite swinging to a first-half loss marred by lacklustre sales growth. The company also stuck to its guidance for the full year.

Energy retailer Yu Group slumped 18.3% to 120.45p as it booked a deeper first-half loss after it was forced to review its strategy following the identification of accounting errors last year.

Business information and events company Bonhill fell 8% to 52p after it reported a first-half loss, though the company also declared a maiden dividend.

Shares in attractions software supplier Accesso slumped 11.5% to 805p. The fall comes after the company saw revenue below management expectations, though costs associated with an integration strategy were lower than originally anticipated, contributing to a lower than expected increase in the Group's expenditure base.

Science kit manufacturer Judges Scientific rose 7.5% to £37 as it said it will beat market expectations this year after a strong first half. Story provided by StockMarketWire.com
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