Thursday’s Master Investor Market Report

1 mins. to read
Thursday’s Master Investor Market Report

– The FTSE 100 closed the day at 5,961.49, a decrease of 70.75 points.
– The FTSE 250 fell by 145.32 points to finish at 16,514.53.
– The FTSE All Share dropped by 36.93 points to 3,286.32.
– The FTSE AIM All Share finished at 728.89, down by 2.22 points.

Budget retailer Poundland (PLND) said that it will raise £50 million in fresh capital to fund the purchase of the rival 99p Store chain, whilst issuing a warning that profits for the first half of its financial year would fail to meet expectations due to a drop in like-for-like sales. Profits were also hit by higher expansion costs as the company opened 55 new stores during the period. The shares dropped by 13.44% to 268p.

Liberum turned sweet on Tate & Lyle (TATE) and switched its view on the stock from a “sell” to a “buy” rating, with a 670p target price. The broker said that while the recent history of multiple profit warnings remains a concern, it is beginning to see signs of a recovery and believes 2016 will prove a turning point in the firm’s fortunes. Tate & Lyle shares climbed 18p to 569.50p.

Shares in travel outfit Thomas Cook (TCG) were lifted 3.10p to 119p after the firm revealed a strong start to winter trading this morning. Management also stated that it had traded in line with expectations for the summer period with good sales rates and higher prices. Hargreaves Lansdown said that the analyst consensus remained a “hold”.

AIM-listed security and risk management products firm Falanx (FLX) said that it has secured a number of new contracts in its intelligence and cybersecurity divisions. The company believes that it has a strong pipeline for new deals after it recently expanded its sales team. Shares in the business grew by 11.76% to 9.50p.

Tomorrow’s news today

Asian Citrus (ACHL) and CVS (CVSG) are among the companies publishing results tomorrow.

Quote of the day

“You may delay, but time will not.”
– Benjamin Franklin

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *