TalkTalk, Crest Nicholson and Card Factory

“The FTSE100 opened lower as ongoing political issues and Brexit concerns continued to weigh on sentiment in London, while commodities prices were weaker overnight as were markets in the US and Asia,” says AJ Bell Investment Director Russ Mould.

“TalkTalk shares tumbled after it posted a first half loss. TalkTalk continues to see strong demand and it will be stepping up investment in the second half as it prioritises volume growth but as a result headline earnings will be at the lower end of guidance. TalkTalk’s shares were down by more than 11.6% in early trading.

“House-builder Crest Nicholson was an early faller after it flagged weakness in central London house prices. The group anticipates revenue growth of around 6-7% this year as sales rates for properties below £1m remain generally strong. But the supply of skills and materials continues to be a challenge for the group and it will be hoping to see renewed commitment from the Government in the forthcoming Budget. Crest Nicholson’s shares were down by over 5.4%

“Card Factory’s shares were up in early trading following a bullish update on the first nine months of the year. The group’s strong first half sales performance continued in the third quarter, driven principally by growth in lower margin non-card categories, such as gifts and dressings. The business faces ongoing external pressures such as foreign exchange and national living wage but remains confident as it enters its important final quarter with the run-up to Christmas. Card Factory’s shares were up by more than 2.1%.”

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