The make or break vote in Greece’s parliament on its new bailout agreement that could keep them in the eurozone has made investors nervous sending the FTSE 100 down 14 points to 6,739. The market also falls despite better-than-expected 7% second quarter growth in China, as investors appear more concerned with government policy towards the market.
The index was also hit by disappointing news from some of its largest names, such as Vodafone (VOD) slipping 0.4% to 236.9p after Goldman Sachs downgraded the mobile telecoms firm to neutral from buy.
Luxury leader Burberry (BRBY) loses 3.5% at £15.64, as the trench coats-to-cashmere scarves purveyor's first quarter trading statement flags a low single-digit sales decline in Asia-Pacific, including currently-challenged Hong Kong.
Car parts, bicycles and tents retailer Halfords (HFD), a running Play of the Week, reverses 8.25p to 541.75p. Its first quarter trading update shows the retail like-for-like growth rate slowing to 3.5%, with cycling sales growth, up against testing prior year comparatives, impacted by less helpful weather.
Pub chain JD Wetherspoon (JDW) loses 5.1% to 731.5p after its margin slips from 8.3% to 7.0% in the 11 weeks to 12 July and it warns full-year pre-tax profit is 'unlikely to be higher' than last year. It says the government's announcement on the living wage adds 'considerable uncertainty' to future financial projections in the pub industry.
Two large stake sales cause a temporary wobble to a pair of FTSE 250 stocks. Micro Focus (MCRO) falls 6.7% to £13.38 as Wizard, the former parent company of Attachmate which merged with Micro Focus last year, sold a 10% stake in the enlarged business at £13.50. Investment company Marwyn sold off 9% of Entertainment One (ETO) at 330p drags the media group down 9.2% to 329.65p. The investor is left with a 17.9% stake in the Peppa Pig merchandise specialist which it is not allowed to sell down further for at least 90 days.
Life sciences research tool provider Avacta (AVCT:AIM) rises 2.7% to 1.3p on plans to raise £22 million of development funding through a placing. It is selling 1.76 billion shares at 1.25p each, a 2% discount to Tuesday’s closing price.
AIM-quoted oil explorer Tower Resources (TRP:AIM) is up 13.2% to 0.21p this morning as it announces an oversubscribed placing to raise £5.2 million and thus secure entry into an asset in a proven basin offshore Cameroon.
Antipodean small cap oily Mosman Oil & Gas (MSMN:AIM) is up 61% to 3.22p on no news flow - heavily suggesting there may be something in the pipeline from the company.
Noricum Gold (NMG:AIM) soars by 27.8% to 0.23p as it announces plans to buy half of a large copper/gold project in Georgia. We'll have a story up on the Shares website shortly featuring an exclusive interview with the miner.