– The FTSE 100 fell 102.14 points to 5,979.2.
– The FTSE 250 tumbled 120.31 points to 16,601.31.
– The FTSE All Share decreased by 48.91 points to 3,297.33.
– The FTSE AIM All Share finished 0.50 points lower at 716.56.
The Confederation of British Industry said that retail sales accelerated during August as supermarkets saw business pick up and consumers splashed out on summer clothes. Over 24% of retailers reported that sales in the year to August were higher than in 2014, and there was also good news in previously stagnating sectors such as grocery sales.
Bookmaker Betfair (BET) said that revenues for the quarter ended 31st July were £135.1 million, 15% above the comparable period of last year despite the lack of a major sporting events, like the World Cup. The increase was driven by strong growth from mobile apps, which earned 57% more than in the comparable period. The company also announced that it has reached a rough agreement with the board of Paddy Power for a potential merger between the two firms. Shares in the business rolled 20.4% higher to 3,134p.
Construction outfit Carillion (CLLN) reported flat profits before taxation of £67.5 million for the six months ended 30th June, despite a 21% increase in revenues, driven by an exceptional number of contracts won during 2014. Unfortunately, this high level of orders has not been maintained during the current year, with confirmed and probable orders falling to £1 billion from £3.2 billion in the prior year. Shares in Carillion dropped by 5.8p to 326.7p.
Health services provider Cambian (CMBN) saw its expansion plans succeed as it recorded revenues of £140.9 million in the 6 months ended 30th June, a 21% increase over the comparable period of last year. The company also switched to a pre-tax profit of £10 million after losing £11.8 million in 2014. Berenberg reiterated a “buy” rating and 345p target price, commenting that the extra capacity being built up should help the firm in 2016 and beyond. The shares fell by 3.75p to 258.5p.
Range Resources (RRL) shares fell sharply in early trading after the company announced that it had made a $5 million (£3.22 million) payment to Lind Financing. The company has an ongoing legal case against Lind in Australia, but said that this was not affected by today’s move. The shares closed down by 5.41% at 0.52p. Tomorrow’s news today
Final results for Hays (HAS) be published, while Playtech (PTEC), Ffyfes (FFY), and Amec Foster Wheeler (AMFW) are among those putting out interim data.
Preliminary US GDP and Unemployment figures will also be released.
Quote of the day
“The secret to getting things done is to act!”
– Dante