The FTSE 100 is down 2.6 points to 7,588.07 after some dollar weakness following President Donald Trump’s ‘talking down’ the dollar. Trump has criticised the US Federal Reserve’s policy of interest rate hikes which may have spooked the markets.
In corporate news, house builder Persimmon (PSN) gains 1% to £24.63 on reporting an increase in profits for its first half. Pre-tax profits for the six months to the end of June rose to £516.3m as new home sales increased by 4% to 8,072. The average selling price of the houses is £215,813.
Mining giant BHP Biliton (BLT) is down 2.1% to £16.16 after releasing results which reveal that the company has missed the market’s earning expectations. However, the company did record an increase in underlying attributable profit rise of 33% to $8.9bn for its full year ending 30 June.
Energy services company John Wood (WG.) ticks up 4.2% to 689.4p after reporting a first half at the ‘upper end’ of its guidance range, according to chief executive Robin Watson. However, net losses for the period ending 30 June came to $52m, compared to a $6m profit the prior year. Operating profit before exceptional items, including the write down of its EthosEnergy business, jumped 74% to $125m.
Online hostel booking platform Hostelworld (HSW) is down 8.8% to 266.25p as its first half results show decreasing revenue and profits. In the six months to 30 June, revenue decreased by 9% to €42.6m while adjusted after tax profit fell to €7.6m from €10.3m the prior year.
Mortgage specialists Charter Court Financial (CCFS) gains 1.4% to 337.4p on reporting what it dubs a ‘strong half for originations and profitability’. For the period ending 30 June, the company’s pre-tax profits rose to £93.1m from £59.3m the prior year while also increasing its loan book by 22.5% to £4.3bn on a year-on-year basis.
Intellectual property business developer IP Group (IPO) loses 2.3% to 119.4p after announcing that its portfolio company Ceres Power (CWR:AIM) is in a strategic partnership with Robert Bosch and has received £9m for the strategic investment from the German company. Ceres, the AIM listed alternative energy company rises 10.2% to 165p on the news.
Video games hardware and software retailer Game Digital (GMD) gains 4% to 28.56p as it reveals an increase of sales of 12.2% in a year end trading update. The company transaction value in its full year to 28 July also increased by 1.8%. No figures were released.
