The markets seem to be taking the latest Brexit chaos in their stride, familiarity breeding contempt perhaps, with sterling settling after yesterday’s volatility and the FTSE 100 advancing 0.4% to 7,329.01.

Online grocery retailer Ocado (OCDO) gains 2.9%, despite confirming that a fire at its Andover robotic warehouse in Hampshire last month had slowed revenue growth to 11.2% in its fiscal first quarter.

On a more positive note, Ocado says investigations indicate there were no significant implications for the risk profile of the assets, or the viability of its business model from the incident.

Online fashion retailer ASOS (ASC:AIM) sheds 3.5% as its sales growth slows in the second quarter, partly thanks to it being unable to physically meet demand in the US.

Chile-focused miner Antofagasta (ANTO) gains 3.9%, despite posting a drop in annual earnings, after higher production helped it offset falling copper prices to post broadly flat revenue.

Fellow mining outfit Ferrexpo (FXPO) falls 8.9% as it pushes back the release of its full year results, after a probe into its charitable donations identified further discrepancies.

Wealth manager Standard Life Aberdeen (SLA) climbs 1.7% on announcing that an arbitral tribunal related to a dispute with Lloyds Banking (LLOY) has ruled in its favour.

IT infrastructure and services provider Softcat (SCT) rallies 6.7% as it posts a 41% advance in first-half profit owing to customer wins. It also forecasts a full-year result 'marginally ahead' of previous expectations.

Services company Wood Group (WG.) slumps 8.2% after the company posts another annual loss, with rising revenue more than offset by one-off restructuring and writedown costs.

Water and climate management products supplier Polypipe (PLP) drops 8.1% despite posting a 4.7% rise in annual profit amid 'mixed market conditions'.

Intermediary trading group TP ICAP (TCAP) advances 3.9%, despite booking a 69% drop in annual profit due to asset writedowns. The company's underlying operating profits are up 5%.

Construction outfit Kier (KIE) advances 3.1%  as it announces the appointment of former Wates head Andrew Davies as its new chief executive. Davies had been lined up to lead Carillion but it went bust before he could assume the role.

Furniture and flooring retailer ScS (SCS) advances 1.5% as it ekes out a small first half profit and says it expected the UK retail market to remain challenging.


Issue Date: 19 Mar 2019