– The FTSE 100 closed the day at 6,352.33, a decrease of 25.71 points.
– The FTSE 250 grew by 24.64 points to finish at 16,917.34.
– The FTSE All Share fell by 10.63 points to 3,474.06.
– The FTSE AIM All Share finished at 743.57, up by 2.52 points.
Storage outfit Lok’n Store (LOK) announced that full year revenues increased by 11% to £15.4 million and pre-tax profits climbed by a third to £2.6 million. The company opened two new sites over the 12 months ended 31st July and management continued to pursue further expansion while also seeking out opportunities to manage space owned by third parties. The shares climbed 11p to 307.50p.
Shares in Associated British Foods (ABF) soured 24p to 3,284p after Berenberg cut its rating from “buy” to “hold”. The analysts made the decision as the share price has increased by 10% since February whilst consensus forecasts for 2015 have fallen sharply and profit margins have narrowed in the firm’s Primark chain. Berenberg also felt that the excitement around Primark’s US launch has been priced in.
Meanwhile, meter maker Oxford Instruments (OXIG) also fell, by 10.1% to 596p as Goldman Sachs downgraded it to “neutral” from “buy”. The bank said that shares in the company have dropped by 49.4% since it was placed on the buy list in 2012, despite developing a strong portfolio of nanotech tools that offer the potential of substantial longer term growth.
Business to business e-commerce specialist JQW (JQW) said that its trading operations remain suspended as it carries out additional training of new staff following an inspection by the Chinese Industry and Commerce Administration. It was fined and forced to cease operations for a month in September after it was found to have breached advertising legislation in the country. The shares dropped by 14.58% to 5.12p.
Tomorrow’s news today
Asos (ASC) will post its final results, while ARM Holdings (ARM) will report on its third quarter.
Quote of the day
“Doubt is the father of invention.”
– Ambrose Bierce