“The global sell off in equities continued this morning with the FTSE100 index down by around 0.7% in early trading amid heightened geopolitical tensions with South Korea issuing its own warning to North Korea overnight,” says AJ Bell Investment Director Russ Mould.
“Coca-Cola HBC fizzed to the top of the FTSE100 in early trading following an excellent first half. The company, which is a leading bottler of Coca-Cola, increased comparable net profits by nearly 40% to €209.6m with volume and revenue per case growth in all three market segments. The group is on track for broad-based revenue and margin growth for the full year and seems energised by the progress it is making towards its 2020 financial targets. Coca-Cola HBC’s shares were up by more than 8.4%.
“Cinema group Cineworld was among the biggest FTSE250 risers after a 17.8% jump in first half revenues. Cineworld was buoyed by a string of blockbuster movies and there are a number of significant releases still to come to keep it on track to meet current forecasts. Cineworld’s shares were up by 3.1%.
“DFS Furniture’s shares tumbled after the group warned that full year earnings would be at the low end of previous guidance. Revenue in the second half was much weaker than expected due to a significant drop in footfall at the group’s stores as consumers kept a tighter grip on the purse strings in an uncertain economic environment. DFS’s shares were down by more than 7.6%.”
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