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Investors start to fret as Fed and ECB meetings loom

By BFN News | 04:38 PM | Monday 22 July, 2019


By the close on Monday the FTSE 100 had surrendered earlier more significant gains to trade just a smidge higher 7,514.93 as investors began to get nervous ahead of some crunch central bank meetings in the coming week or so. By 4.30pm UK time the S&P 500 in the US had also faltered after a bright start to trade broadly flat. Fashion brand Ted Baker was up 14% on weekend press reports that founder and major shareholder Ray Kelvin is open to the idea of buy-out of the business. Kelvin departed amid allegations of misconduct earlier this year. LARGE AND MID CAP RISERS AND FALLERS Business-focused media company Ascential rose 4.3% on announcing that it had agreed to acquire an initial 35% interest in cybersecurity provider Avast's marketing analysis unit Jumpshot for $60.8m alongside a solid set of first half results. Ascential also assumed an option to take a controlling stake in Jumpshot. Avast shares rose 0.8%. Challenger bank Metro Bank advanced 6.2% after it confirmed media speculation that it was in talks to sell a loan portfolio. Premier Inn hotel chain owner Whitbread reversed 4.2% on announcing that it had completed a £2.5bn capital return funded by the sale of its Costa coffee business. SMALL CAP RISERS AND FALLERS Oil company Jersey Oil & Gas gushed 140% higher as it announced a successful outcome from the latest North Sea licensing round. Recruitment company SThree gained 2.4% after it reported a 28% rise in first-half profit, as growth in its overseas businesses more than offset weakness in the UK. Petra Diamonds fell 8.1% on the back of 6% slide in annual revenue hurt by lower gem prices. The company also forecast lower production volumes in the current financial year. Workplace digital learning company Learning Technologies jumped 19.6% after it guided for full-year earnings 'materially ahead' of market expectations. Bioplastics and radio frequency technology business Biome Technologies sank 12% on warning that it expected to post a 'modest' first-half loss, as sales fell and it invested in more staff. At market close: (LON:ASCL) Ascential Plc share price was +16.8p at 396.2p (LON:JOG) Jersey Oil And Gas Plc share price was +103p at 176.5p (LON:MTRO) Metro Bank PLC share price was +27.8p at 500p (LON:TED) Ted Baker Plc share price was +113p at 951p (LON:WTB) Whitbread PLC share price was -217p at 4685p Story provided by StockMarketWire.com

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