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Poor US jobs data helps puts squeeze back on market

Wednesday, 5th June 2019
Weak US jobs figures helped puncture some of the optimism sustaining global stocks and by the close the FTSE 100 had surrendered earlier gains to close more or less flat.

On Wall Street the S&P 500 was up 0.4% to 2,814.83 by 4.30pm UK time.

The fall-out from Neil Woodford's suspension of dealing in his flagship income fund continued with his investment trust Woodford Patient Capital falling a further 8.4% after yesterday's losses and retail stockbroker Hargreaves Lansdown the top FTSE faller down 6.5%.

LARGE AND MID CAP RISERS AND FALLER

Sub-prime lender Provident Financial jumped 16% after rival Non-Standard Finance dropped its hostile takeover bid after meeting regulatory resistance. Non-Standard Finance fell 5.8%.

Greeting card and gift retailer Card Factory ticked up 0.5% as it notched a 6.4% rise in first-quarter sales, or a 2.3% rise on a like-for-like basis.

Financial services group Aviva dipped 1.9% after it announced that chief financial officer Tom Stoddard would stand down at the end of the month.

Office property investor Workspace fell 1.6% as it upped its dividend by 20% on higher rental income that helped boost its annual adjusted profit.

Aerospace and defence company Babcock International rose 2.9% after it set a number of medium-term targets, including generating earnings growth of 3%-to-4% and sustaining margins at around 11% over the next five years.

The company said it had also merged its naval nuclear and nuclear power businesses into one unit.

Fellow defence contractor Chemring gained 2.8% as it swung to a first-half profit, but reiterated that its full-year performance would be second-half weighed.

Bus and train company Go-Ahead gained 5.5% on announcing that Elodie Brian had been appointed as chief financial officer on a permanent basis.

SMALL CAP RISERS AND FALLERS

Wagering company Webis dipped 4.1% after it renewed a contract with the Hong Kong Jockey Club for three years.

Providence Resources fell 30% as it announced further delays to drilling on its Barryroe discovery offshore Ireland.


Story provided by StockMarketWire.com


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