Tuesday’s Master Investor Market Report

– The FTSE 100 closed the day at 5,923.55, a decrease of 35.31 points.
– The FTSE 250 fell by 151.40 points to finish at 16,462.76.
– The FTSE All Share dropped by 21.24 points to 3,267.38.
– The FTSE AIM All Share finished at 720.44, down by 6.28 points.

Outsourcing specialist Mitie (MTO) said that it has over 94% of its budgeted revenues for the full financial year confirmed ahead of the close of its first half on 30th September, and management remain convinced that this momentum can be maintained into the latter portions of the year. The firm also said that there had been no further substantial costs resulting from its leaving the construction sector to focus on facilities management. Mitie shares climbed 6.50p to 293.9p.

Miner Glencore (GLEN) has regained some of its lost value today with the shares moving up by 16.95% and closing at 80.25p. The company told Reuters that it is financially robust and confident in its medium-term prospects, a stance that was supported by brokerage SP Angel who believe it unlikely that the company will see its credit lines retracted.

Tailor Moss Bros (MOSB) has posted revenues of £61.3 million for the 26 weeks ended 1st August, a 9.7% like-for-like rise over the same period of the prior year, helped by the successful launch of new lines and strong growth in online sales. As a result of this and significant margin improvements, profits before taxation climbed by 44% to £2.8 million. The shares rose by 3.96% to 95.13p.

Online fashion retailer Boohoo.com (BOO) said that a continued stream of new customers helped it deliver revenues of £90.7 million over the six months ended 31st August, a 35% increase over the same period of 2014. Profits before tax were up by 39% at £6.2 million despite margins falling by 220 basis points. Boohoo shares climbed 3.60% to 33.25p.

Tomorrow’s news today

Saga (SAGA), Lekoil (LEK) and InternetQ (INTQ) are among the companies publishing interim results tomorrow.

Quote of the day

“The opportunity is often lost by deliberating.”
– Publilius Syrus