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“Blue-chips were down in early trading with financial stocks among the biggest fallers,” says AJ Bell Investment Director Russ Mould.
“Bookmaker William Hill’s shares jumped after 888 and Rank decided not to make an offer. William Hill, which has consistently spurned its would-be suitors, is now clear to focus on its plans to grow by diversifying digitally and internationally. The bookmaker has made a good start to its second half and expects full-year operating profit to be at the top end of the previously guided £260m-£280m range. William Hill led the FTSE250 board, up by nearly 4.5%.
“21st Century Technology’s shares plummeted by more than 52% in early trading after it warned of significant full-year losses. The group, which provides closed-circuit TV on buses and trains, made a slow start to the year due to lower volumes of new vehicle orders from UK bus operator customers but an anticipated pick-up in the second half is proving slower to materialise. The group has clinched an important five-year renewal with First Bus but revenues for the year will be down on last time.
“Uncertainty caused by the EU referendum had an impact on recruitment group Kellan’s first half sales which fell by 13% as many clients took longer to make decisions. Kellan is also seeing some general slowness post referendum in job flow and candidate attraction. Kellan’s shares were down by 24% in early trading.”
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