“The FTSE 100 remains up in afternoon trading despite some major stocks hitting the skids,” says AJ Bell Investment Director Russ Mould.
“Thomas Cook, the travel agent, saw its share price collapse 8.7% as investors were left unimpressed by first quarter results that showed a meagre 1% rise in revenues to £1.6bn and losses only moderately reduced. Tourists are ditching terror-stricken Turkey for destinations such as Greece and Spain and chief executive Peter Fankhauser adopted a cautious tone in his outlook statement.
“Food producer Dairy Crest, behind the Cathedral City, Clover and Country Life brands, soured 3.4% as milk cost inflation – the price paid to farmers - surged 38% and high market prices for cream hit the firm, with year-end net debt now likely to be higher than previously expected.
“Specialist emerging markets asset manager Ashmore leads the market risers with its share price up 5.9% on the back of strong half year results. Taxable profits powered ahead 94% to £121.5m in the six months to December, while CEO Mark Coombs clearly wooed investors with his positive outlook for 2017.”
These articles are for information purposes only and are not a personal recommendation or advice.