Share Price.com
Market Update Economic Events Directors Deals Commodities Prices News Market Movers

Trade war worries stall global markets

Thursday, 17th January 2019
Global equities were subdued amid concerns that trade war tensions could get worse. This followed reports US federal prosecutors are investigating Chinese firm Huawei on allegations that it has been stealing trade secrets.

The FTSE 100 dipped 0.4% to 6,834 as Brexit uncertainty also weighed on sentiment.

Brent crude oil slipped 0.7% to $60.90 per barrel.

LARGE AND MID CAP RISERS AND FALLERS

Associated British Foods said revenue grew modestly as clothing retailer Primark's UK sales exceeded expectations over the Christmas period, while its sugar division continued to grapple with falling sugar prices. The shares advanced 7% to £23.30.

Premier Inn owner Whitbread reported a 0.6% decline in like-for-like sales in the third quarter as it launches a £500m share buyback in the wake of its £3.9bn sale of Costa Coffee to Coca-Cola.

The company also expects a flat performance in the February 2020 financial year amid sustained inflation and Brexit-related uncertainty in the UK. It shares were broadly unmoved at £47.41.

Broadcaster ITV was down 6% to 129.1p after investment bank Merrill Lynch moved from 'buy' to 'underperform' on the shares.

EasyJet was also hit by a downgrade as Barclays lowered its recommendation from 'equal weight' to 'underweight'. It fell 2% to £11.69.

Software firm Sage reported a 7.6% increase in organic revenue to £465m for the first three months of its financial year. The company also highlighted a 10.5% increase in recurring revenue to £387m, underpinned by software subscription growth of 2.7% to £237m. Investors reacted positively, marking the shares 5.5% higher to 625p

GVC said it expected underlying earnings to top market expectations following strong growth in its online gaming segment. The shares advanced 2.1% to 687p.

Information services company Experian said Thursday its full-year guidance remained unchanged as organic growth grew 9% in the third quarter, led by double digit percentage growth in North America. Its share price ticked up 1.8% to £19.08.

SMALL CAP RISERS AND FALLERS

Video game retailer Game Digital advanced 11.6% to 26p as it abandoned a plan to ditch its Main Market listing and trade on AIM and reported like-for-like sales up 2% over the festive period.

Fashion retailer N Brown reversed 11.8% to 89p despite Christmas trading meeting expectations and maintaining its annual margin guidance.

Event seating provider Arena Events fell by more than a third after it revealed operating issues in its UK division in 2018 would hit profit. The company raised £20m at 60p in September 2018 to fund acquisitions in California and Dubai. It is currently trading at 39.3p.


Story provided by StockMarketWire.com

Related Shares: A.b.food, Easyjet, Itv, Sage Grp.

Share Search
Share Search Share Search

Visit the Share Search.
Share Search

Share News
Share News



SharePrice.com will do their best to ensure the quality of the information displayed on this site, but all information is provided as-is, free of charge. We cannot be held responsible for any loss, material or otherwise, due to incorrect information found here. UK data supplied by NBTrader and Digital Look. Share Prices are at least 15 minutes delayed.