The FTSE 100 is down 3.35 points to 7,497.11 as the market has all its attention on an expected US interest rate hike today.

In corporate news, FTSE 100 travel agent TUI (TUI) ticks up 2.2% to £14.40 after posting a large rise in profits for its full year. Its net profits for the year are up 95.9% to €910.9m. The company’s earnings per share have also increased by 123% to €1.36.

FTSE 100 equipment rental specialist Ashtead (AHT) drops 5.5% to £19.47 as its chief executive Geofff Drabble sells 941,940 shares in the business. Other members of the board including finance director Suzanne Wood and chief executive of its US division Sunbelt have also taken profit by selling significant number of shares.

High street retailer Dixons Carphone (DC.) gains 5.6% to 176.8p despite a large drop in pre-tax profits for its first half to 31 October. Its profits have slumped by 65.9% to £46m while headline earnings per share is down 65.8% to 4p. However the company is taking decisive action to fix its mobile phone business and is maintaining its full year dividend at 11.25p.

Under siege support services company Carillion (CLLN) is up 5.7% to 18.5p on announcing a proposal to dispose of its UK healthcare facilities management business. The buyer is one of its peers, Serco (SRP), which has entered into  definitive business purchase with the company.

Serco, a FTSE 250 support services company, is up 13.2% to 107.95p as it upgrades it profit guidance for 2017. It says underlying trading profit will be at the top end of a £65m to £70m guidance range with revenue for the year to be just shy of £3bn. The company is also forecasting further profit growth in 2018 and 2019.

Tobacco company British America Tobacco (BATS) puffs up 20.5p to £50.64 after saying it is continuing to perform well and trading in line with its expectations. The company also expects to grow its market share driven by it Global Drive Brands while its full year earnings per share will benefit from a reduced currency translation tail.

Wood Group (WG.), a supplier of services to the oil and gas industry, dips 1% to 672.5p despite stating the integration of Amec Foster Wheeler is progressing ahead of schedule. The company says that it has already achieved sustainable cost savings.

PVC window maker Safestyle (SFE) plummets 20.5% to 152p after issuing another profit warning. The company says that since its last warning in September demand for its products have weakened further with sales in the three months to 30 November 6.8% lower than the previous year.


Issue Date: 13 Dec 2017