UK stocks are in positive territory led by a strong performance in emerging and western markets for packaging and cleaning supplies group Bunzl (BNZL) despite currency headwinds. The running Shares Play of the Week posts six month profit growth of 14% to end June, pushing the shares 26p higher to £16.57.
Co-location data centres operator Telecity (TCY) comes under selling pressure on the surprise news that chief executive Michael Tobin plans to leave in October. The CEO had led the running Shares Play of the Week through the merger with Redbus in 2006, several acquisitions and its UK listing in 2007. The shares fall nearly 5% to 724.5p.
A reassuring interim management statement from transport operator Stagecoach (SGC) sees shares in the Perth-based business add 3.1p to 362.6p. The update reveals like-for-like revenue growth of 4% in regional UK bus operations and a 14% hike in London buses in the 12 weeks to 20 July.
Home improvement retailer Kingfisher (KGF) clips ahead 1% to 307.6p as Jefferies reaffirms its 'buy' rating on the B&Q owner ahead of interims next month (10 Sep). The broker expects a mixed first half update in light of last month's downbeat second quarter update, yet believes that 'on balance we believe the sharp sell-off is overdone'.
North Africa focussed hydrocarbons producer and explorer Circle Oil (COP:AIM) gains 26% to 22.38p as drilling uncovers a significant new oil discovery offshore Tunisia. The El Mediouni well, or EMD-1, encountered very good light oil shows in both the primary Lower Birsa target and the secondary Upper Ketatna objective although more detailed results were not possible due to technical difficulties.
Media and public relations conglomerate WPP (WPP) remains in demand, up 1.7% at £12.48, as its posts interim results slightly ahead of expectations. Pre-tax profit of £491 million represents a 15% improvement year-on-year.
UK property giant British Land (BLND) lets a further 36,000 square foot (sq ft) of retail space at the Wheatley Retail Park in Doncaster as fashion chains Next (NXT) and Marks & Spencer (MKS) agree terms for two new units. British Land shares rise 5.5p to 725.5p.
Oil and gas operations group Petrofac (PFC) bucks the wider positive trend, down 2.9% to £10.93, as half year revenues decline to $2.5 billion. But investors will take some encouragement from a 35% hike in orders backlog, now standing at $20.3 billion.
Irish-based insulation manufacturer Kingspan (KGP) adds 1.9% to €13.93 as interim results reveal a 4% rise in revenue to €889.3 million. Trading profit at the £1.7 billion cap is up 24% to €69.2 million in the six months to 30 June.