HSS Hire, Diploma and WH Smith

“Blue-chips opened on the front foot and reversed some of yesterday's losses with Prime Minister Theresa May in Japan to discuss future trade arrangements. The appetite for equity trades in London remains subdued, though, due to rising tensions in the Pacific and ongoing Brexit uncertainty,” says AJ Bell Investment Director Russ Mould.

“Troubled tool rental group HSS Hire’s shares plunged following higher first half losses and a warning of materially lower sales growth. The group lost nearly a quarter of its market value in early trading as it counted the cost of implementing new sales initiative to reinvigorate rental revenue growth and action to cut costs by around £13m. HSS returned to profitability in June but the rate of recovery in rental revenues has been much slower than expected. The group’s shares were down by more than 23.4%.

“Diploma was one of the FTSE250’s biggest risers following a bullish trading update. The group continues to trade well in the second half and revenues for the year ending 30 September are expected to increase by around 17%. Diploma’s revenues have been buoyed by the fall in the value of the pound. Diploma’s shares were up by 3.5% in early trading.

“WH Smith is on track to meet full-year forecasts with the group’s travel business continuing to deliver a strong performance, with good sales across all channels. WH Smith’s new store opening programme in the UK and internationally is also proceeding to plan and it has further opportunities in the international news, books and convenience travel market.”

These articles are for information purposes only and are not a personal recommendation or advice.