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UPDATE 1-FTSE rebounds but mid-caps nervy as sterling falls

Tue, 12th Nov 2019 09:33

* FTSE 100 up 0.2%, FTSE 250 down 0.2%

* Data provider Experian tops main index

* Discounter B&M weighs on mid-caps
(Adds company news items, analyst comment, updates share moves)

By Shashwat Awasthi and Muvija M

Nov 12 (Reuters) - A near 3% rise in shares of the world's
biggest credit check firm Experian led a recovery in London
blue-chip stocks on Tuesday after falls that tracked a downbeat
global mood a day earlier.

The FTSE 100 was up 0.2% by 0833 GMT, but the
mid-cap index, which rallied on Monday after Brexit
Party chief Nigel Farage said suggested he would not fight
Conservative-held seats in December's general election, dipped
0.2%.

Weakness in the more domestically-focussed index came as
sterling, which had hit a six-month high earlier this week
driven by political news, dipped ahead of jobs data.

With financial investors still nervous about the outlook for
global growth and the outcome of U.S.-China trade talks, traders
were holding off on any bigger bullish bets.

Markets rallied last week on signs of a thaw in relations
between Washington and Beijing, but those gains were reeled back
in on Monday after President Donald Trump cast doubt on the
progress of negotiations.

Trump is scheduled to discuss U.S. trade policy at the
Economic Club of New York later today.

Experian climbed to a near one-month high after it
upgraded its organic revenue growth target on the back of strong
results in its main North American market, while industrial
software company AVEVA added 2.4% after upbeat results.

ITV added 2% after the broadcaster said demand for
programming, particularly in the United States, would underpin a
solid end to the year.

Support services company DCC, however, slid 4% after
first-half profit dropped as volumes fell at its business that
sells transport fuels and commercial fuels.

Industrial distributor Electrocomponents weighed
heavily on the mid-cap index, slumping 10% after a
10.4-million-pound writedown in relation to British Steel's
liquidation hit first-half earnings.

Discounter B&M European Value Retail also dropped
10%, after it said it was undertaking a review of its German
unit to decide the future of the poorly performing business.

Manufacturing and research company Oxford Instruments
jumped 7% after reporting a rise in revenue and profits
for the half year period.

Among small-caps, Premier Foods leapt 9.4% after its
first-half earnings got a boost from the relaunch of Mr Kipling
cakes last year and strong sales of Nissin noodles.
(Reporting by Shashwat Awasthi and Muvija M in Bengaluru;
editing by Uttaresh.V)

More News
3 May 2022 16:41

IN BRIEF: Electrocomponents name change to RS Group confirmed

Electrocomponents PLC - London-based industrial and electronic products distributor - Changes its name to RS Group PLC. The company previously announced its intention to change name on March 30. Adds its ISIN will remain unchanged and the change of name will not affect any shareholder rights.

Read more
12 Apr 2022 09:39

TOP NEWS: Electrocomponents expects substantial annual revenue growth

(Alliance News) - Electrocomponents PLC on Tuesday confirmed it expects over 25% like-for-like revenue growth for financial 2022.

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12 Apr 2022 07:04

Electrocomponents FY revenues up 26% on LFL basis

(Sharecast News) - Industrial and electronics products distributor Electrocomponents said on Tuesday that revenues had grown 26% on a like-for-like basis in the twelve months ended 31 March.

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30 Mar 2022 07:42

TOP NEWS: Electrocomponents to become RS Group; expects high margins

(Alliance News) - Electrocomponents PLC on Wednesday said it will change its name to RS Group PLC in early May.

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9 Mar 2022 09:43

TOP NEWS: Electrocomponents expects to exceed annual revenue forecasts

(Alliance News) - Electrocomponents PLC on Wednesday said it expects annual revenue and adjusted operating profit margin to be ahead of market estimates, due to a strong trading performance.

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9 Mar 2022 07:04

Electrocomponents shares jump on upbeat trading statement

(Sharecast News) - Electrocomponents shares jumped on Wednesday as the company said it expected full year profits to be ahead of consensus estimates after a strong performance in the last nine weeks.

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11 Jan 2022 10:11

TOP NEWS: Electrocomponents annual profit to be ahead of expectations

TOP NEWS: Electrocomponents annual profit to be ahead of expectations

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1 Dec 2021 18:05

TOP NEWS: Electrocomponents, Dechra oust Darktrace and Johnson Matthey

TOP NEWS: Electrocomponents, Dechra oust Darktrace and Johnson Matthey

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30 Nov 2021 10:36

Berenberg raises target price on Electrocomponents

(Sharecast News) - Analysts at Berenberg raised their target price on industrial and electronics products distributor Electrocomponents from 890.0p to 1,230.0p on Tuesday, highlighting that the firm had continued to win market share in the first half of its trading year, especially on the industrial side of its business.

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4 Nov 2021 15:34

Electrocomponents H1 profits rise amid market share gains

(Sharecast News) - Electrocomponents posted a rise in first-half profit and revenue on Thursday amid market share gains and an increase in customer numbers.

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4 Nov 2021 10:12

Electrocomponents confident as interim profit more than doubles

Electrocomponents confident as interim profit more than doubles

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8 Oct 2021 08:21

TOP NEWS: Electrocomponents raises guidance after strong first half

TOP NEWS: Electrocomponents raises guidance after strong first half

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8 Oct 2021 07:29

Electrocomponents lifts FY guidance but warns on costs

(Sharecast News) - Electronic parts distributor Electrocomponents lifted annual guidance after reporting interim trading ahead of expectations, but said supply chain issues would persist.

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28 Sep 2021 09:44

RBC Capital upgrades Electrocomponents to 'outperform'

(Sharecast News) - RBC Capital Markets upgraded Electrocomponents on Tuesday to 'outperform' from 'sector perform' and hiked the price target to 1,350p from 1,070p as it said the company will be a long-term winner.

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14 Jul 2021 13:23

Wednesday broker round-up

(Sharecast News) - Carnival: Berenberg upgrades to hold with a target price of 1,400p.

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