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FTSE 100 struggles for direction as Goldman posts profit plunge

Monday, 15th April 2019
The FTSE 100 closed the day down a handful of points after US investment bank Goldman Sachs reported first quarter profit down by a fifth year-on-year.

By 4.30pm UK time the S&P 500 was down 0.2% at 2,900.54 as Goldman shares fell 3%. Elsewhere a report showed UK shopper numbers picked up in March thanks to better weather.

LARGE AND MID CAP RISERS AND FALLERS

Commodities firm Glencore dipped 0.7% after announcing it planned to resume cobalt exports from DRC.

Rio Tinto fell 1.6% as it announced that it had committed $302m to its Resolution copper project in Arizona, the company is due to announce production number later.

Temporary office space provider IWG jumped 17.9% after it agreed to sell its Japanese operations to TKP Corporation for £320m with a franchise agreement with the latter part of the deal.

Energean Oil and Gas rallied 8.5% on news that it had made a 'significant' gas discovery at its Karish North exploration well offshore Israel.

Acacia Mining reversed 12.7% as its first-quarter gold production fell 13% on-year, mainly due to lower production at its North Mara and Buzwagi mines in Tanzania.

Recruitment company Robert Walters fell 2.7% despite boosting its first-quarter gross profit by 11%, following growth in both the UK and abroad.

Online trading platform IG gained 2.5% after it announced that chairman Andy Green would stand down in September. A search for a replacement was currently underway.

Greeting cards firm IG Design slipped 1.7% as it said it expected financial performance to be in line with market expectations and significantly up year on year.

Brewin Dolphin gained 0.4% as it confirmed media speculation that it was in talks to acquire Investec's wealth management business in Ireland

Power control component supplier XP Power shed 1.6% as it grew its first-quarter revenue by less than 1%, though sales fell on a like-for-like and constant currency basis.

SMALL CAP RISERS AND FALLERS

Building materials supplier SigmaRoc firmed 4.4% on news that it had agreed to acquire quarrying group GDH in two stages for £12.4m.

Petra Diamonds weakened by 0.4% as it also reported a fall in third-quarter production, though it left its output guidance for the year unchanged.

Agriculture and engineering group Carr's dropped 7.8% after it reported only a modest uptick in half-year pre-tax profits, as unexpected warm weather in the UK and US hurt agriculture volumes.

Software provider Sanderson jumped 10% after it revealed a 30% rise in first-half profit that beat its expectations.


Story provided by StockMarketWire.com


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