In the wake of Monday's stock market surge investors are looking largely puffed-out in early trade on Tueday with little sign of strong movement one way or the other. The FTSE 100 index nudges around 7 points lower, or about 0.06%, to 6,807, although there is a marginally firmer downward wind blowing across midcaps, the FTSE 250 off 0.11%.

'The reason behind this sudden slowdown is likely the proximity of Wednesday’s central bank bonanza, with the September meeting of the Bank of Japan and, especially, the Federal Reserve bookending the middle of the week,' points out Spreadex financial analyst Connor Campbell.

On the corporate news front, the supermarkets and related consumables stocks are mixed as the Kantar Worldpanel Grocery Market Share figures are released. Tesco (TCSO) appears to be the immediate winner losing less market share to the discounters than others.

Elsewhere, B&Q-owner Kingfisher (KGF) reports an increase in interim profits and progress in chief executive Véronique Laury's turnaround project. That's news enough to send the share price more than 2.6% higher to 386.6p.


Change at the top at pharma giant GlaxoSmithKline (GSK) does little for the stock, the shares off around 1% at £16.285 as the group confirms Emma Walmsley, its current head of consumer healthcare, as its new chief executive. She'll replace outgoing CEO Andrew Witty on his retirement in March.

Fading fashion brand French Connection (FCCN), where activists are pushing to reinvigorate performance, crashes more than 7% to 40.5p on disappointing interim results which show the business mired in the red with a dwindling cash balance.

Spreadbetting provider IG Group (IGG) talks up its performance in the three months to the end of August, but investors focus on the group's wider challenges, marking the stock down more than 4% at 886.5p.


Earnings figures are also out from Bango (BGO:AIM), Fox Marble (FOX), French Connection (FCCN), GVC (GVC), Horizon Discovery (HZD:AIM), Pennon (PNN) and Pittards (PEG).

Media minnow Minds & Machines (MMX:AIM) rallies 13% to 12.38p as it unveils plans to return £13 million to shareholders. This news demotes interim results to a poor second.

Property company Regus (RGU) slides nearly 6% to 272.5p as it completes is £102 million cash call. The 275p discounted strike price weighs on the stock.


Electronics manufacturing firm Judges Scientific (JDG:AIM) slumps more than 17% at £11.75 as its latest half year results show orders and profits down despite rising revenues, suggesting pressure on pricing.

Greatland Gold (GGP:AIM) drifts about 2% off at 0.2p as it posts its latest drilling results at its 100%-owned Bromus Project in Western Australia, showing anomalous levels of silver, zinc, cadmium and sulphur.

Issue Date: 20 Sep 2016