– The FTSE 100 closed the day at 6,342.28, a decrease of 28.90 points.
– The FTSE 250 fell by 88.92 points to finish at 16,898.03.
– The FTSE All Share dropped by 16.15 points to 3,469.52.
– The FTSE AIM All Share finished at 734.44, down by 0.29 points.
UK inflation dropped back below zero in September, falling to -0.1% and lessening the pressure on the Bank of England to alter its current monetary policy stance. The fall was primarily due to lower fuel prices. However, once volatile factors were stripped out, prices were up by 1% year-on-year.
SABMiller (SAB) looks set to be taken over by Anheuser-Busch after an improved offer of £44 per share was accepted in principle by the company’s board. SAB has requested that the takeover deadline be extended by 14 days to 28th October. The deal values SAB at over £66 billion. The shares fizzed 326.50p higher to 3,948p.
Housebuilder Bellway (BWY) said that its profits before tax for the year ended 31st July were £354.2 million, a 44% increase over those in the prior 12 months and better than had been forecast. As a result, the proposed total dividend has also been upped to 77p. A record level of completed sales boosted revenues by 18.9% to £1,765.4 million and management believe that current growth is sustainable. The shares rose by 85p to 2,455p.
X-ray equipment manufacturer Image Scan Holdings (IGE) said that sales for the year ended 30th September dropped by around 23% to £1.7 million after sharp falls in demand for its industrial and security products. Management said that this was a temporary blip and that sales for the new financial year already looking more positive. Image Scan shares fell by 15.38% to 1.37p.
Bonding solutions firm Scapa (SCPA) has performed in line with expectations during the six months ended 30th September and said that the planned closure of the company’s Rorschach facility, which will save around £2 million annually, is on schedule. The recently acquired First Water division also made a positive contribution to overall results. Scapa shares climbed 0.25p to 192p.
Tomorrow’s news today
Animalcare (ANCR), Connect (CNCT), and Imperial Innovations (IVO) post their final results tomorrow morning. Brown (N.) (BWNG) and Vertu Motors (VTU) will put out interims.
Quote of the day
“Plan your work for today and every day, then work your plan.”
– Margaret Thatcher