BROKER FORECASTS

FTSE 100 reverses gains

28th September 2017, 08:50

The FTSE 100 slipped 0.15% to 7,302.25 on Thursday morning, despite the S&P 500 reaching a high of 2,507 following promises from the US President for a new tax regime.

Imperial Brands (IMB) said it was on track to meet earnings expectations for the full year at both constant currency and reported exchange rates.

The group said increased investment was delivering a stronger second half performance with market share gains in most of its priority markets and continued outperformance of its Growth Brands. Nevertheless, the shares fell 1.2% to 3,265.25p.

Moss Bros (MOSB) slipped 1.12% to 98.9p after warning that market conditions remain tough, with a highly competitive retail landscape set to continue alongside an unpredictable economic back-drop. The company grew like-for-like sales by 2.8% in the first half.

Global technology recruitment and outsourcing group Harvey Nash (HVN) also slipped 0.43% to 87.75p, despite reporting that revenue and gross profit rose by 12.6% and 2.0% to £425.3m and £48.2m respectively in the six months to the end of July.

DX (DX.) soared 42.4% to 10.25p after announcing a major new contract with IKEA to provide a bespoke logistics solution for customer deliveries. DX said the contract was for an initial three years and took the total value of contracted logistics work for IKEA to approximately £19m per annum.

Inland Homes (INL) reported a robust financial performance and significant strategic land successes in the year to the end of June. Pre-tax profits rose to £18.1 million from £15.7 million and the board proposed a 33% increase in final dividend to 1.2p per share. The share price gained 1.52% to 58.38p.

SSP Group (SSPG), an operator of food and beverage outlets in travel locations worldwide, gained 2.85% to 514.75p after saying it expects like-for-like sales in the fourth quarter to increase by approximately 3%.
Back