Friday’s Master Investor Market Report

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Friday’s Master Investor Market Report

– The FTSE 100 closed the day at 6,247.94, an increase of 55.91 points.
– The FTSE 250 grew by 184.41 points to finish at 17,106.36.
– The FTSE All Share climbed 31.61 points to 3,434.66.
– The FTSE AIM All Share finished at 734.85, a rise of 8.21 points.

The Office for National Statistics has reiterated that the UK economy expanded by 0.7% during the second quarter as net trade played a bigger role in boosting growth than at any point in the last four years. However, economists have suggested this may prove a short-lived boon as the strengthening pound weakens demand for exports.

Software and outsourcing outfit Innovation (TIG) confirmed that it is in talks with US asset management firm Carlyle with regards to a potential takeover at 40p per share, after speculation in the press. As of yet, no firm offer has been made and it is believed that Carlyle’s interest is based on potential synergies with its existing holdings in companies like RAC. Innovation shares shot up by 9.93% to 38.75p.

Insurance services firm Charles Taylor (CTR) posted a 29.2% year-on-year improvement in profits before taxation for the six months ended 30th June to £5.3 million. Revenues were up 22% at £69.1 million, after the company took over a life insurance outfit and opened a Lloyd’s agency this year. The interim dividend was raised to 3p. Charles Taylor shares dropped by 12.5p to 235p.

Hospitality outfit Restaurant Group (RTN) earned revenues of £36.9 million during the 26 weeks ended 28th June, an 8% improvement over the equivalent period of 2014 despite some challenging market conditions. Pre-tax profits also grew by 10% as the company improved margins due to low levels of food price inflation. N+1 Singer stuck with a “hold” rating, but voiced concerns that expansion plans were falling behind schedule. The shares dropped 12p to 666.5p.

Marshalls (MSLH) traded ahead of the wider construction industry during the first half of 2015, with its revenues climbing by 11% to £199.1 million. Operating margins also improved by 240 basis points, contributing to a 48% rise in profits before taxation to £20.8 million. Numis believes that growth should continue and increased its target price to 350p. The shares grew 18.5p to 335p.

Monday’s news today

Mortice (MORT) will publish final results on Monday.

Quote of the day

“People who think they know everything are a great annoyance to those of us who do.”
– Isaac Asimov

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