Thursday’s Master Investor Market Report

– The FTSE 100 closed the day at 6,796.45, an increase of 42.7 points.
– The FTSE 250 rose by 128.29 points and finished at 17,765.37.
– The FTSE All Share climbed 23.55 points to 3,700.01.
– The FTSE AIM All Share finished 0.54 points higher at 756.76.

The pound hit its highest level against the Euro for 13 years today, hitting highs of €1.435. The dollar also made gains against the Euro after the Greek parliament voted in favour of an agreement with its creditors, but Sterling’s gains were also based on comments made by Mark Carney that markets interpreted as an indication that the Bank of England would tighten monetary policy in the coming months.

Electronics retailer Dixons Carphone (DC.) increased pre-tax profits by 20.5% to £381 million over the thirteen months ended 2nd May, on revenues that what were 6% higher than those of the comparable period. Integration of the two companies is proceeding according to plan. Investec reiterated a “buy” rating on the stock and commented that “the valuation remains undemanding with self-help, restructuring and market share gains to drive robust earnings growth”. Dixons Carphone shares rose by 6.7p to 468.2p.

Sporting and lifestyle goods chain Sports Direct (SPD) undershot analysts’ revenue estimates as it clocked sales of £2.8 billion during the year ended 26th April. However, the company’s profits before tax rose by 30.9% to 313.4p, which was slightly ahead of consensus forecasts. Despite this success, no dividend will be paid this year. Sports Direct shares rose by 2p to 736.5p

Online marketing agency Brainjuicer (BJU) increased revenues for the six months ended 30th June by around 4%, but management have warned that the company’s pre-tax profits would be 25% below their 2014 level. The firm has performed well in US markets, but has struggled in the UK, where it has seen sales drop. Despite these difficulties, Canaccord Genuity reiterated its “buy” rating. Brainjuicer shares dropped 5.5p to 410p.

Shareholders in Plus500 (PLUS) has confirmed that its shareholders have accepted a 400p per share offer from Playtech. The deal to buy the troubled contracts for difference outfit still requires the approval from a Playtech general meeting and FCA clearance. Playtech shares rose by 0.75p to 389p.

Tomorrow’s news today

US inflation and construction data will be released.

Quote of the day

“Gentlemen prefer bonds.”
– Andrew Mellon