Following last year's big profit warning, FTSE 250 sports media group Perform (PER) bounces back 9% to 255p after appointing a new chief financial officer and saying that first quarter trading has gone well. Ashley Milton is joining from a division of WPP (WPP), the world's largest advertising and marketing group.
Struggling grocer Morrisons (MRW), still reeling from its severe profit warning in March, cheapens another 2.15p to 188.65p on a woeful first quarter trading update. Like-for-like sales slumped 7.1% in the 13 weeks to 4 May, clear evidence that discounters continue to eat into its market share. Embattled boss Dalton Philips insists customers have responded positively to Morrisons' recent wave of price cuts and says online momentum is building.
Superdry brand owner retailer SuperGroup (SGP) slumps 19% to £10.96 as its fourth quarter trading update contains a mild profit warning. The running Shares Play of the Week now expects profits for the year to 26 April will come in 'towards the lower end' of the £62.9 million consensus following recent disappointing sales. Read our news analysis on today's events.
Energy group Centrica (CNA) comes under pressure after tapering earnings expectations after a mild winter slashed British Gas profits. The shares initially fell by 5% before recovering some, now down 2.1% to 319.9p.
Superfast broadband helps BT (BT.A) post its first full-year consumer revenues growth in a decade, powered by its BTSport investment. The shares rise 2.5% to 386.1p, with higher cashflow future projections adding to the goodwill surrounding the stock.
Accounting software supplier Sage (SGE) feels the heat as investors fret on falling half-year revenues as it continues to struggle with a cloud transition. The group posts a 7% revenue decline to £657 million, although it did manage to bounce back into the black on previous cost cuts. The surprise retirement announcement of chief executive officer Guy Berruyer within the next year also leaves investors feeling down, slicing 4% off the shares to 404.5p. We take a closer look at events here.
Banking giant Barclays (BARC) improves 4.1% to 253.4p as the market welcomes its new growth plan. The highlights include it axing some 20,000 jobs by 2016 and preparing to exit £115 billion of non-core businesses through the creation of a bad bank.
Expansionist discounter and recent main market debutante Poundland (PLND) eases another 1.12p at 337.63p despite delivering a positive year-end trading update. Total sales grew 13.3% to £997.8 million in the year to March. House broker Shore Capital notes sales growth strengthened in the fourth quarter and the retailer says profits should meet the £27 million consensus estimate.
A bullish trading update from housebuilder Barratt Developments (BDEV) pushes the share price 1.7% higher to 382.5p. Strong performance across the key metrics has continued and the group is confident that it can deliver its 2016 return-on-capital-employed target of 18% significantly ahead of schedule.
Construction specialist Morgan Sindall (MGNS) rises 0.6% to 785p on a first quarter trading update that reveals an uptick in forward visibility with the committed order book at the end of the quarter up 4% from the year-end to £1.6 billion.
Surprisingly robust first-half trading at data and workflow software supplier IDOX (IDOX:AIM) sparks a 7% shares price jump to 42.5p. The company has previously struggled to manage its engineering information management side, but a staff rejig seems to be working well.
Investors don't like being reminded that it can cost lots of money to build mines, particularly iron ore projects. That's why Zanaga Iron Ore (ZIOC:AIM) falls 6.3% to 22.5p despite slashing the construction cost for its deposit in the Republic of Congo from $7.5 billion to a two-staged approach costing a combined $4.7 billion.
Biotech concern e-Therapeutics (ETX:AIM) jumps 6.2% to 34p as it resumes the first phase clinical trial of a brain cancer treatment. The process is re-starting after the US regulator is satisfied that storage issues have been resolved.
Rex Bionics (RXB:AIM) is up 1.3% to 182.5p on its Aim debut, having moved from ISDX under its previous form as Union MedTech. The company is a robotic legs maker for wheelchair users. It raised £8.8 million after costs to market its technology ahead of a global launch and to expand the product range.
Bombed out oil and gas minnow New World Oil & Gas (NEW:AIM) gains 36.4% to 0.75p as it announces Kuwait businessman Dr Muaaz KH M Alfahaid is to buy a 20% stake in New World's strategic investor Niel Petroleum for $20 million, and that the money will be used for a final subscription payment as part of the tie up between the two parties. Niel agreed last September to invest $25 million in New World, taking a 75.66% stake. As part of today's transaction New World is also set to get a 49% equity interest in Alfahaid’s hydrocarbons operation in Kuwait.
Latin American oil play Global Energy Development (GED:AIM) gushes up 5.9% to 72p on a farm-out of its Bocahcico licence in Colombia. The deal with Everest Hill Energy sees Global receive an initial cash payment of $1 million and a full carry on the costs of three wells. The group agreed to farm-out an interest in its Bolivar project to Everest in March.