FTSE 100 underperforms after poor earnings
A trio of poorly-received earnings hurt the FTSE 100, with a negative headline from the Chinese property sector also keeping a lid on enthusiasm, though equities in mainland Europe ended higher. Stocks in New York opened lower, after US economic growth was downwardly revised slightly. Eyes now shift to a key US inflation reading on Thursday. The FTSE 100 index ended down 58.04 points, 0.8%, at…
Bitcoin moves through $60,000 for first time since November 2021
The price of Bitcoin gained over 6% on Wednesday to move through $60,000, hitting its highest level since late 2021. The popular cryptocurrency has been on a tear this year, gaining around 36%. Momentum has increased following regulatory approval by the SEC (securities and exchange commission) in January for Bitcoin ETFs which has led the cryptocurrency to be viewed as a mainstream asset. Ref…
Blue-chip FTSE 100 index falls ahead of key US data, Halfords shares plummet 31%
Stock prices in London were in the red at midday Wednesday, as the FTSE 100 suffered a blow from disappointing results from St James’s Place and Reckitt Benckiser. The FTSE 100 index was down 50.42 points, 0.7%, at 7,632.60. The FTSE 250 was down 120.21 points, 0.6%, at 19,043.45, and the AIM All-Share was down 4.26 points, 0.6%, at 741.39. The Cboe UK 100 was down 0.7% at 764.22, the Cboe UK…
Aston Martin Lagonda shares fall despite full year beat
Luxury sportscar maker Aston Martin Lagonda raced off the start line gaining 6% in early trading as full year losses came in better than expected. But by late morning those gains had reversed with the shares falling 2% to 173.2p. Since listing on the stock exchange in 2018 the shares have lost over 90% of their value. HOW DID THE BUSINESS PERFORM? Pre-tax losses for the year ended 31 Decembe…
Halfords breaks down as weak customer confidence and wet weather drive another profit warning
Car parts-to-bicycles purveyor Halfords has cut its current-year profit guidance by 25% and sees flat profits next year at best, crushingly disappointing news that sent shares in the Worcestershire-based retailer skidding 26% lower to 148p. Halfords pinned the blame for the material earnings downgrade on a recent weakening in demand for bicycles and ‘unusually mild and very wet weather’, whic…
Shares in Reckitt Benckiser slide 10% after another big sales miss
After missing market forecasts for third-quarter sales last October, FTSE 100 household and personal goods group Reckitt Benckiser reported an even more disappointing set of fourth-quarter results with like-for-like sales in negative territory. The shares slumped as much as 10% to £52.54, their lowest level since the depths of the pandemic-related sell-off in March 2020, wiping more than £4…
Taylor Wimpey shares fall 3% on disappointing full-year results
Shares in Taylor Wimpey were down over 3% to 135p in morning trading as the UK housebuilder said pre-tax profit had fallen 42.8% to £473.8 million for the year to 31 December compared to £827.9 million in the same year ago period. The company’s share price performance today contrasts with a 10% gain over the past year. SALES VOLUMES DOWN Total revenue for the group was down 20.5% to £3.5…
Blue-chip benchmark opens lower ahead of US GDP data as St James’s Place and Reckitt Benckiser slump
Stocks in London opened lower on Wednesday morning, amid steep falls for St James’s Place and Reckitt Benckiser, ahead of key US data. The FTSE 100 index opened down 15.96 points, 0.2%, at 7,667.06. The FTSE 250 was down 74.73 points, 0.4%, at 19,087.93, and the AIM All-Share was down 2.18 points, 0.2%, at 743.47. The Cboe UK 100 was down 0.3% at 767.49, the Cboe UK 250 was down 0.5% at 16,439…
FTSE drifts into the red as investors weigh economic outlook
The FTSE 100 fell into the red in afternoon trade, as housebuilding stocks fell again, while Imperial Brands slid on a report that the UK government is sizing up a tax on vaping products. Mainland European equities ended higher, meanwhile, though stocks in New York were mixed on underwhelming US data. The FTSE 100 index ended down 1.28 points at 7,683.02. The FTSE 250 rose 36.74 points, 0.2%,…
Stocks lower as investors brace for slew of US data
Stock prices in Europe were mixed on Tuesday midday, as investors await US data that could be indicative of future interest rates. The FTSE 100 index was down 10.79 points, 0.1%, at 7,673.51. The FTSE 250 was down 19.91 points, 0.1%, at 19,107.01, and the AIM All-Share was down 1.02 points, 0.1%, at 744.79. The Cboe UK 100 was down 0.1% at 768.73, the Cboe UK 250 was flat at 16,487.42, and the…
On The Beach shares gain 13% after Ryanair tie-up
Shares in On The Beach rose over 13% to 159p in morning trading as the online package holidays in the sun seller announced a long-term distribution agreement with budget airline Ryanair . The shares are down 5% over the last year compared with a 3% drop in the FTSE All-Share index. The agreement allows On The Beach to freely access Ryanair’s seat supply with ‘increased price transparency’ wh…
Why private label products maker McBride continues to clean up
One of 2023’s best share price performers, private-label cleaning products maker McBride , has upgraded earnings guidance again as the cost-of-living squeeze continues to stoke demand for its affordable products, news that sent the stock up 16% to 85.2p in early dealings on Tuesday. Having reported a much-improved first-half performance with all divisions profitable, the budget laundry-deterge…
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