boohoo.com, Croda and London Stock Exchange Group

“The FTSE100 failed to track gains on Wall Street and in Asia and opened in negative territory with the market looking ahead to US President Donald Trump's tax reform proposals due out later today and the European Central Bank's rate decision tomorrow,” says AJ Bell Investment Director Russ Mould.

“Online fashion group boohoo.com's shares fell in early trading despite pre-tax profits almost doubling to £30.9m in the year to the end of February. Revenues were up by 51% at more than £294.6m and the only slight blemish on the group’s results was a slight fall in its gross profit margin, although it remained an impressive 54.6%. Investors, though, will have noted the recent dip in retail spending in the UK which is boohoo.com's largest market and accounts for a third of its revenues. boohoo.com's shares were down by more than 3.5%.

“Speciality chemicals group Croda topped the blue-chip board following continued sales growth in the first quarter. Constant currency sales increased by 4.9%, driven by strong organic growth. The exceptional growth in its performance technologies division is expected to moderate, but Croda remains on track to deliver continued profitable progress throughout this year. Croda’s shares were up by over 3.6%.

“London Stock Exchange Group has had a strong start to the year with first quarter total income from continuing operations up 19% at £458.7m. The proposed merger with Deutsche Boerse has been blocked by the EU but the group is now looking at other investments to drive further growth.”

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