Market momentum wanes as US shuts up shop for Thanksgiving
Source - SMW
With the US closed for Thanksgiving European markets are giving back all of the gains from yesterday's big rally today.
By midday the FTSE 100 was down 1% to 6,977.48.
LARGE AND MID CAP RISERS AND FALLERS
Centrica slid 6.3% to 136.5p on Thursday as it maintained its full-year guidance despite revealing a significant fall in customer accounts and admitting that weaker than planned volumes from its E&P and Nuclear activities would have a 'negative' impact on full-year performance. The company also flagged a £70m hit from the new energy price cap in 2019.
Sports betting group GVC gained 2.4% to 794p after saying it had acquired Neds International for up to AUS$95m.
Restaurant operator Mitchells & Butlers gained 1.7% to 271.2p as it reported full-year adjusted operating profits of £303m, down 1.6% year on year, as higher second-half profits were unable to compensate for the negative impact of snow in the first half.
Water and waste utility Severn Trent fell 0.6% to £19.03 despite posting an over 4% increase in half-year underlying profit on Thursday.
Share registrar Equiniti Group rose 3.81% as it said it expected performance to be at the upper range of market expectations despite continuing revenue tailwinds.
SMALL CAP RISERS AND FALLERS
Outsourcing company Mitie Group lost 1.6% to 154.4p as it reported a 4.2% drop in adjusted operating profit on Thursday and said it expected to see 'modest' top-line growth for the full year.
Mothercare dropped 4% to 16.9p after posting a pre-tax loss of £6.2m on Thursday and warning that trading conditions would remain volatile for the remainder of its financial year.
Wine merchant Majestic Wine dropped 16.8% to 311.5p after announcing it would import an extra £5-8m worth of stock to ensure it can meet deliveries post-Brexit. It also reported a pre-tax loss amid a 'tough' retail market and a gloomy outlook.