The FTSE 100 started the day on the back foot after a sell-off in the US overnight and strength in sterling on hopes Article 50 will be extended, delaying Brexit. The index of leading shares was down 0.5% to 6,870.27.

UK fashion brand Burberry (BRBY) softens by 1.4% to £17.51 as its same-store sales in the third quarter slow from 2% a year earlier to 1% and sales as a whole dropped 1%. The company blames weak footfall in the Americas but more encouragingly points to mid-single digit growth in China.

Challenger bank Metro Bank (MTRO) tumbles 27% to £15.96, despite forecasting a more than doubling in annual profit, as profit 'softened' in the last quarter and earnings come in short of expectations.

Plastic packaging supplier RPC (RPC) adds 4.7% to 768.5p on news it has accepted a £3.32bn takeover bid from private equity firm Apollo Management.

Pub chain JD Wetherspoon (JDW) reverses 0.5% to £11.90 as it warns rising costs would offset a bumper sales performance to send its profits lower.

Book, stationary and snack retailer WH Smith (SMWH) gains 1.7% to £19.08 after it unveils year-to-date sales growth of 6%, buoyed by strength in its travel division.

Asset and corporate services provider Sanne (SNN) slumps 12.3% on announcing it expects to post underlying profits 'broadly in line' with its expectations after revenue rose in the traditionally stronger second half. The company also reveals the retirement of chief executive Dean Godwin.


Issue Date: 23 Jan 2019