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“The FTSE100 opened lower ahead of the latest house price data and credit conditions survey results. The fall was in sharp contrast to Wall Street, which marked a new high overnight, and progression on Asian markets. Disagreement among rival factions within the Government over Brexit negotiations continues to weigh on sentiment,” says AJ Bell Investment Director Russ Mould.
“Just Eat topped the FTSE250 board in early trading after competition watchdogs provisionally cleared the company's acquisition of Hungryhouse. The Competition and Markets Authority has provisionally concluded that the deal will not lessen competition. The watchdog felt that Hungryhouse provided limited competition to Just Eat because it was much smaller in size and offered too few unique restaurants, making it increasingly difficult for Hungryhouse to attract and retain consumers. Just Eat’s shares were up by more than 4.4%.
“Recruitment group Hays edged higher in early trading despite another record quarterly net fee performance. The group’s strong growth in Continental Europe and Rest of World has had to compensate for a modest improvement in the UK and Ireland where growth was just 1%. The private sector, which accounts for 75% of net fees, grew 4% but the public sector remained tough, down 9%. Hays edged up by just over 0.4%.
“Sky’s like-for-like revenue rose by 5% to £3.3bn in the first quarter despite pressure on consumer spending and lower spend in UK television advertising. Sky added 160,000 new customers and more than 800,000 subscription products were added while pay-as-you-go sports and entertainment proved particularly popular growing by12%.”
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