London’s FTSE 100 extends yesterday’s bull-run, tacking on an additional 17.2 points to trade at 7,515. Stocks continue to rise on renewed hopes of a US-China trade deal and headlines like ‘US equities hit a new record high’ are certainly helping to improve investor sentiment.

Peer-to-peer lending platform Funding Circle (FCH) is firmly out of favour, the shares slumping 14% to 140.4p on a halving of 2019 revenue growth guidance from 40% to circa 20%.

Co-founder and chief executive officer (CEO) Samir Desai blames ‘the uncertain economic environment’ for reducing demand from small businesses and leading Funding Circle to ‘proactively tighten lending criteria. As a result, revenue growth will be impacted. We recognise that this is a change from our previous guidance, but we are taking the prudent course of action for the long-term growth and development of our business.’

Meanwhile, unloved contracts for difference (CFD) and cryptocurrency trading platform Plus500 (PLUS) rallies 23.8p (4.4%) to 562.8p on the news second quarter revenue increased to around $94m. That is up from $53.9m in a first quarter impacted by low levels of financial markets volatility.

Elsewhere, budget carrier Ryanair (RYA) improves 2.5% to €10.4 as it reports 13% year-on-year growth in passenger numbers to 14.2m for June.

Also climbing is rival Wizz Air (WIZZ), the Budapest-based airline bid up 42p to £34.28 on news of 19% passenger number growth for June, with CO2 emissions down 2.9% year-on-year.

Recently-listed online travel platform Trainline (TRN) ticks up 5.9p to 431p after saying it sold 20% more tickets in the first quarter to 31 May, underpinned by growth at home and abroad. CEO Clare Gilmartin says the pleasing first quarter showing ‘demonstrates that Trainline continues to consolidate its position as the leading independent rail and coach travel platform’.

LED lighting systems designer Dialight (DIA) crashes 34.3% lower to 325p on a full year profit warning triggered by a weakening in order intake in the second quarter of 2019. Guidance for annual underlying operating profit is downgraded to ‘within the range of £10-£13m’ amid softer demand trends, and investors are unsettled by the news CEO Marty Rapp is stepping down too.

Laundry rental and cleaning business Johnson Service (JSG:AIM) jumps 4.75% to 156.5p on the news full year results are expected to be ‘slightly ahead’ of current market expectations amid continued strong trading.

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Issue Date: 02 Jul 2019