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UK stocks edge higher as traders eye BoE 'Super Thursday'

Thursday, 7th February 2019
UK stocks are edging higher on Thursday, ahead of the Bank of England's triple release of its latest interest rate decision, inflation data and monetary policy committee meeting minutes, all expected at midday.

At 08:58, the benchmark FTSE 100 was 0.034%, or 2.41 points, higher at 7,175.50.

Thomas Cook jumped 12.61% after it announced a strategic review of its airline business on Thursday and reported a £14m increase in operating loss in the first quarter of its financial year.

Bellway slipped 2.39% as it said Thursday early signs pointed toward a strong spring selling as the homebuilder sold more homes at higher prices amid ongoing demand for new housing. The company warned, however, Brexit uncertainty could hurt consumer confidence.

Compass Group added 4.27% after it upgraded its full-year outlook, expecting organic growth to come in slightly above the middle of its guidance as strong levels of new business wins bolstered first-quarter revenues.

British medical equipment manufacturer Smith & Nephew climbed 2.98% as it posted a small increase in revenue in its full-year results on Thursday and said it did not anticipate any significant impact on its business from Brexit.

Fashion retailer Superdry edged 0.20% lower after it said in-store and online sales were "subdued" in the third quarter, due to the unseasonably warm weather and problems with its mix of products.

Insurer Beazley climbed 5.36% despite reporting Thursday that annual profits had more than halved as underwriting losses in its property insurance and reinsurance division offset a rise in gross premiums written.

British food and beverage supplier Tate & Lyle said Thursday rose 0.77% after the company said it expected full-year earnings to be at the lower end of a "mid-single-digit range" due to higher energy and transport costs in North America.

Roadside assistance group AA edged 0.17% higher after said it had won a new five-year roadside assistance contract with its longstanding partner Lloyds Banking Group to supply breakdown assistance service and new driving as well as digital services to the bank's customers.

Cranswick slumped 18.32% as it said Thursday revenue fell 2% over the festive period, and warned margins would come under pressure amid a "challenging" retail backdrop.

Crimson Tide leapt 11.54% after it announced two contract wins in the rail sector worth nearly £0.25m for the company's mpro5 service offering.

IT services group FDM slid 0.37% as it said Thursday it had appointed David Lister as Non-Executive Chairman with effect from 5 March 2019.

Data analytics company Ixico lost 8.57% as it announced on Thursday it had appointed Grant Nash as Chief Financial Officer.

Story provided by StockMarketWire.com


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