Thursday’s Master Investor Market Report

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

– The FTSE 100 closed the day at 6,338.67, an increase of 69.06 points.
– The FTSE 250 rose by 137.99 points to finish at 16,949.50.
– The FTSE All Share climbed by 35.30 points to 3,469.62.
– The FTSE AIM All Share finished at 736.34, down by 4.31 points.

Fashion house Burberry (BRBY) saw its sales continue to stagnate at £1.1 billion in the six months ended 30th September as Chinese markets softened. This revenue figure was 5% below what had been forecast and down by 4% on the equivalent period of 2014 on a like-for-like basis. Bank of America Merrill Lynch dropped its rating to “neutral” and said that “while we do not question Burberry’s brand equity, strategy or execution, the trading environment is tough and only amplified by its geography mix”. The shares dropped by 8.25% to 1,302p.

Metrology specialist Renishaw (RSW) said that profits before tax for the three months ended 30th September dropped to £16.3 million from £21.3 million. Revenues grew in most regions, but a fall in the Far East meant that total income was lower than in the comparable period. Profit guidance for the full year has been maintained, but management cut its expected revenues by £20 million. Renishaw shares climbed by 146p to 2,036p.

Man Group (EMG) saw its funds under management increase by 2.5% to $76.8 billion (£49.6 billion) despite a negative investment performance. Despite the volatile trading that the firm experienced in August, RBC Capital Markets said that this was the most positive statement yet issued by the current management team and that the shift from low to high margin products was encouraging. The shares rose by 5.16% to 159p.

Sensor manufacturer Zytronic (ZYT) said that revenues for the year ended 30th September were up by around 13% after a strong second half performance. As a result, pre-tax profits for the year will now be materially ahead of the market’s prior expectations. Shares in the firm shot up by 10.17% to 349p.

Tomorrow’s news today

Volution (FAN) will post its final results tomorrow morning.

Quote of the day

“My interest is in the future because I am going to spend the rest of my life there.”
– Charles Kettering

Comments (0)

Leave a Reply

Your email address will not be published.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