Bookmaker William Hill (WMH) has ended talks over a possible £4.5bn tie-up with Amaya, owner of the world's biggest poker website. Investors welcome the news to concentrate on its already set-out four-pronged plans - online, technology, efficiencies and international, to deliver value for shareholders, the stock rising 1.7% to 310.2p.

That's roughly in line with the wider market mood in early trade on Tuesday, the FTSE 100 index rallying close on 60 points, or about 0.8%, to just about nudge back over the 7,000 mark at 7,007.

But balancing the positives are cut forecasts for full year profit by budget airline Ryanair (RYA), blaming the drop in the pound following the Brexit vote. Ryanair says net profit will be €1.3bn to €1.35bn, 5% below its earlier guidance.

Ryanair iStock_000064456469_Large

Also negative is fashion designer Burberry (BRBY) slumps despite posting growth in revenue in the first half of its financial year. The company is getting a leg up from the weak pound which is expected to benefit full year retail and wholesale profit. Underlying expectations remain unchanged but the shares fall sharply, down more than 7% at £14.05, on worries that trading levels could be turning for the worse.

Housebuilder Bellway (BWY) states that its pre-tax profit rose 41% in its financial year ended 31 July. Despite a slump in demand in the immediate wake of the Brexit vote Bellway says it sold more homes at a higher price, and says reservation levels have surged beyond the previous year's. The shares rally 1.8% to £22.90.

Mining firm Diamondcorp (DCP:AIM) launches a company wide strategic review in response to its funding squeeze and possible interest in the company by third parties. Investors clearly think this will trigger a complete buyout of the business, speculation that cheers shareholders and sparks a 26% jump in the share price to 2.6p.


Emerging hopes of a recovery in core oil and gas markets sees coatings specialist Hardide (HDD:AIM) soar more than 17% to 1.02p. Figures for the full year to 30 September are in line but the second half surge in demand is being seen as evidence that its industry backcloth is at last improving.

A £0.3m cash call to buy into a new gold project fails to spark delight at mining minnow Premier African Minerals (PREM:AIM). The company is buying a 4.5% stake in Mauritius registered Casa Mining, which holds prospective gold mining and exploration licences in the Democratic Republic of Congo. But investors focus on the 36% discount needed to get the funding away, priced at 0.32p, way below the 0.5p level at which the shares were trading. He stock inevitably falls, down 12.5% at 0.35p.

Issue Date: 18 Oct 2016