London’s FTSE 100 sheds 3.57 points to 7,475 in a cautious start to election-day trading.

Regional airline Flybe (FLYB) gains 5.3% at 34.75p despite lurching into the red in the year to March. Flybe was hit by IT write-downs of £4.8m, which was at the lower end of expectations, and investors also focus on a 13.4% increase in sales to £707.4m.

Another notable mover is online fashion star turn Boohoo.com (BOO:AIM), which sparks up 5.7% to 233.25p. Boohoo has raised full year sales growth guidance from 50% to 60% following a stellar first quarter performance and has also raised £50m through a placing priced at 220p to fund a new mega distribution centre.

Allied Minds (ALM), which helps people with bright ideas commercialise technology, improves 2.3% to 139.5p. The catalyst is the news recently appointed CEO Jill Smith and chairman Peter Dolan have bought stock at 141.1p and 139.9p respectively.

Also in demand is online spread betting-to-foreign exchange trading specialist CMC Markets (CMCX), bid up 7.25p to 135p despite revenue and profits falling in its first full year as a listed company amid reduced client trading activity.

There is relief as CEO Peter Cruddas insists ‘the strength of our platform, team and service proposition has continued to attract new, high quality clients and our existing clients are putting more money to work with us’ and insists CMC is well placed to take market share in the medium to long term.

Workspace (WKP) ticks 20p higher to 896.5p as the FTSE 250 small business landlord confirms it is in talks to buy the Salisbury House building in the City for around £158m.

Used car website Auto Trader (AUTO) reverses 4.3% to 413.1p despite full year results showing strong growth with a 23% hike in profit before tax to £193.4m. The drop reflects concerns over the outlook, with display advertising growth expected to slow and costs set to increase in ‘an increasingly competitive market’.


Issue Date: 08 Jun 2017