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FTSE fails to follow Wall Street higher

Tuesday, 12th February 2019
The FTSE 100 failed to tap into strong momentum elsewhere as European and US equities rallied on positive progress on border security for the US-Mexico border, potentially avoiding another US government shutdown.

Germany's DAX jumped 1.1% to 11,136 and the Dow Jones rose 1.3% to 25,371 at around 4:45pm UK time.

At close, the FTSE 100 was only 4 points higher at 7,133.

Brent crude oil rose 1.7% to $62.58 per barrel.


Online broker Plus500 tumbled 30.7%, despite almost doubling its annual profit. The company warned tighter UK regulations would cause it to post a profit in 2019 'materially lower' than market expectations.

Travel company TUI dropped another 7.4% as it posted a deeper earnings loss in its fiscal first quarter, while reiterating last week's shock guidance downgrade.

Pharmaceutical company Indivior shed 2.2% after a US court denied its appeal against a decision allowing rival Dr Reddy's Laboratories to sell a generic version of its opioid addiction treatment.

Train and bus company Stagecoach advanced 1.2% as it confirmed that subsidiary East Midlands Trains agreed a new short-term rail franchise with the UK's Department for Transport.

Insurer AA was broadly unmoved at 92p after announcing it expected its annual underlying earnings to be at least £340m, in line with its previous guidance range of £335m to £345m.


Media consultancy Ebiquity warned 2019 profits for its consultancy business will be flat as cost pressures continued, causing the shares to fall 8.2% to 56p.

Data firm for the retail and transport sectors Touchstar rose 12.6% as it guided for a shallower loss than the market was currently expecting, due to margin improvement.

Logistics company Wincanton gained 1.3% on news that it had been selected by UK tax authorities to support air and sea freight inspections.

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