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“The FTSE100 nudged into positive territory despite the ongoing and escalating tensions between North Korea and the US. Brexit talks are also firmly on today's agenda,” says AJ Bell Investment Director Russ Mould.
“Car accessory and cycling group Halfords is on track to hit its full-year targets after a good performance in the 20 weeks to mid-August. Halfords has benefited from a ‘staycation summer’ as Brits eschewed foreign trips with strong growth in camping, roof boxes and cycle carriers but the weakness is also expected to bring a £25m gross cost headwind in the financial year with around £15m being felt in the first half. The group’s shares were up by over 4.8%.
“Investors welcomed the proposed combination of AVEVA with Schneider Electric's industrial software business which will create a London-listed software firm worth more than £3bn. The reverse takeover will be transformational to AVEVA and create a leader in industrial software, which will be able to better compete on a global scale. AVEVA’s shares were up by more than 24.1% in early trading.
“House-builder Redrow’s shares were up in early trading after a record results for the fourth consecutive year and the group updated its medium term guidance on the back of its current performance and robust demand. The group now expects turnover in 2020 of around £2.2bn, pre-tax profits of about £430m and the dividend to rise to 32p per share. The order book has risen 14% to a record £1.1bn and sales for the first nine weeks of its new financial year are up 8% against strong comparatives. Redrow’s shares were up by 5.2%.”
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