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The FTSE 100 opened down in early morning trading, falling just over 0.45%, close to the 7,500 mark, as trade tensions between the US and Europe increase and concerns about the Asian coronavirus grow.
PPHE Hotel Group's share price dropped 1.75% to £20.24 in spite of the company reporting a 6.3% rise in like for life room revenue for the year ended December 31, 2019, in its latest trading update.
Room revenue for the year increased by 5.9% to £250m, while like-for-like RevPAR for the year grew 5.1% to £103.7, driven by like-for-like occupancy growth of 130bps to 80.7% and like-for-like average room rate growth of 3.4% to £128.5.
The trading benefits from the £100m plus multi-year investment and repositioning programme are starting to come through, following the launch of Holmes Hotel London in May, and the reopening of Park Plaza Vondelpark, Amsterdam and Park Plaza Utrecht in October.
Online fashion retailer ASOS gained 6.6% to £32.24 as revenue for the four month period encompassing Christmas beat expectations thanks to a record Black Friday performance.
Baby products specialist Mothercare fell 9.6% to 15.1p on a reshuffling of senior management with chief executive Mark Newton-Jones stepping down, and finance chief Glyn Hughes taking over as interim chief executive.
The company said its recapitalisation remains on track as it refocuses on international markets.
Meanwhile, Unite Group has received resolution to grant planning permission for its 416-bed student accommodation in Bristol city centre.
The plans incorporate the conversion of the former Georgian hospital building into 62 rented residential homes.
The company's share price fell 1.2% to £12.87.
Chocolatier Hotel Chocolat reported revenue grew 11% for the 13-weeks to 29 December and 14% for the 26 weeks, with trading in-line with management's expectations.
The positive update was slightly spoiled by the comment that 'the cost to deliver this growth was modestly higher due to inefficiencies in the supply chain which are being addressed in 2020' pushing the shares down 1.7% to 420p.