Sophos Group Share News (SOPH)

LONDON (Alliance News) - Stock prices in London were higher early Friday on a potentially positive development in the US-China trade war, though mid-cap IT company Sophos had a bad start to the session. The FTSE 100 was up 47.49 points, or 0.7%, at 6,882.41, while the FTSE 250 was 34.56 points, or 0.2%, higher at 18,571.88. The AIM All-Share was up 0.1% at 905.18.The Cboe UK 100 was up 0.8% at 11,692.92, while the Cboe UK 250 was 0.5% higher at 16,605.81 and the Cboe UK Small Companies 3.04 points higher at 11,046.43.In mainland Europe, the CAC 40 in Paris was up 0.8%, while the DAX 30 in Frankfurt also 0.8% higher.On Thursday, the Wall Street Journal reported US officials are "debating ratcheting back tariffs" as a way to bring some calm to markets and give China an incentive to make further concessions."This would not be the first time we have heard reports of thawing trade tensions. The markets have been here before, so there is going to be a level of caution," said London Capital Group's Jasper Lawler."That said, the jump higher reflects the extent of the damage trade tensions are causing from the markets view. Any evidence the US and China are close to a trade agreement will result in a sustained move higher in riskier assets."In the US on Thursday Wall Street ended in the green, with the Dow Jones Industrial Average ending 0.7% higher, the S&P 500 up 0.8%, and the Nasdaq Composite up 0.7%.The Japanese Nikkei 225 index closed 1.3% positive Friday. In China, the Shanghai Composite closed up 1.4%, while the Hang Seng index in Hong Kong ended 1.2% higher.On the London Stock Exchange, FTSE 250 IT firm Sophos slumped 26% as it reported 2% growth in constant currency billings for the third quarter ended December, with growth also 2% in the nine months year-to-date.However, Sophos said its "continued subdued performance" is partly due to a strong comparative period a year prior, and it expects trends in the third quarter to continue into the quarter ending March.Revenue is up 14% year-to-date, with subscription revenue 18% higher year-to-date and up 15% in the third quarter year-on-year at constant currency.Adjusted operating profit more than doubled year-to-date, Sophos said, due to strong revenue growth while it has posted a year-to-date operating profit of USD51 million from a loss of USD25 million year-on-year.Irish budget airline Ryanair was down just 2.0% after it reduced its profit guidance, blaming lower fares over the winter period.For its financial year ending March, Ryanair is guiding for profit after tax between EUR1.0 billion and EUR1.1 billion. Its prior guidance range was EUR1.1 billion to EUR1.2 billion.Profit after tax in its previous financial year was EUR1.5 billion, meaning profit will be down as much as 50% in financial 2019. The previous year's figure had been up 10% on financial 2017.Winter fares are expected to fall 7%, Ryanair said, compared to prior guidance of 2%.However, the company did guide 9% growth in traffic to 142 million passengers in the current year, stronger ancillary sales, and a "slightly" better second-half unit cost performance so far.Profit guidance excludes expected EUR140 million start-up losses from Austrian budget carrier Lauda.Chief Executive Michael O'Leary said: "While we are disappointed at this slightly lower full-year guidance, the fact it is the direct result of lower-than-expected second-half air fares, offset by stronger than expected traffic growth, a better-than-expected performance on unit cost and ancillary sales is positive for the medium term."Peer easyJet, a member of the FTSE 100, was 2.1% lower, the worst large-cap performer while International Consolidated Airlines, which owns British Airways, was 0.7% lower. Wizz Air in the FTSE 250 was 1.1% lower, and Flybe down 0.6%. In the FTSE 100, Rio Tinto was 0.5% higher as it reported a "pleasing" operational performance in the last quarter of 2018, with copper production a particular highlight.Pilbara iron ore shipments of 87.4 million tonnes in the fourth quarter were down 3% on a year ago, but 7% higher than the third quarter of 2018. For 2018 as a whole, shipments totalled 338.2 million tonnes, up 2% on 2017.Bauxite production in 2018 of 50.4 million tonnes was down 1% on last year, while aluminium production of 3.5 million tonnes was down 3%. Mined copper was up 33% year-on-year at 633,500 tonnes and titanium dioxide slag was down 15% at 1.1 million tonnes.Aluminium output fell due to ongoing labour disruptions at the non-managed Becancour smelter in Canada, Rio Tinto said, while copper came in above guidance due to a strong performance Escondida in Chile and higher grades at Rio Tinto Kennecott in Utah.Antofagasta was 1.2% higher, despite Goldman Sachs cutting its rating for the Chilean miner to Sell from Neutral. Miners were making gains, while steelmaker Evraz was 2.3% higher. Glencore was up 2.0% and Anglo American also up 2.0%.Back in the FTSE 250, fresh and prepared food firm Bakkavor was up 0.3% as it said revenue for its that year ended December 29 rose 2.2%, and 3.2% like-for-like, with "good" progress made across the company.In the UK, despite weak consumer confidence, like-for-like revenue increased 1.8%. Internationally, like-for-like revenue climbed 16% due to "good" volume growth.Overall, Bakkavor said this is a "robust" performance with expectations for the recently completed year unchanged.Greencoat UK Wind was 4.0% higher as it paid a 1.69 pence per share final quarter dividend in 2018, meaning its 2018 total is 6.76p, up from 6.49p in 2017. For 2019, Greencoat is aiming for a dividend of 6.94p. Net asset value per share at the end of 2018 was 123.1p per share, up from 111.2p a year prior. Elsewhere, Eddie Stobart Logistics was 3.4% higher as it posted 35% growth in revenue for its year ended November to around GBP843 million, beating market expectations. Like-for-like revenue rose 18%.Eddie Stobart won GBP162 million of new contracts for the year, while margins have improved and are expected to improve further in its current financial year.Underlying earnings before interest and tax are guided to meet market expectations.Back in the US, President Donald Trump has retaliated against his rival, Speaker of the House Nancy Pelosi, saying he was postponing her planned trip to Belgium and Afghanistan, citing the ongoing partial shutdown of the US federal government.Shortly thereafter, the White House said the US administration's delegation to the World Economic Forum in Davos would not head to Switzerland for the annual gathering of world leaders and business elites next week.The measures add to the turmoil of the shutdown, which is now in its fourth week, with no sign of it ending, despite increasing warnings about the impact on the economy and the functionality of the federal government.UK Prime Minister Theresa May also has cancelled her planned attendance at Davos, as she battles to save her Brexit deal. "She won't be going to Davos," a Downing Street spokeswoman told dpa by telephone. "She will be staying to deal with other issues here."Other government officials will still represent the UK in Davos, the spokeswoman added.In the UK on Friday are retail sales figures for December at 0930 GMT."Official UK retail sales figures for the important month of December will be released. We forecast a fall of 0.8% month-on-month on both including and excluding fuel measures," said Lloyds Bank."That's in line with anecdotal evidence pointing to pressures on the high street, although online sales are expected to have fared better." "Part of the story, though, is that November sales have been boosted in recent years by Black Friday, at the expense of December. Nevertheless, our forecast implies fourth quarter retail sales were broadly flat, compared with positive growth in the second and third quarters," Lloyds added.The pound was higher quoted at USD1.2953, compared to USD1.2920 at the London equities close on Thursday.Still to come in the economic calendar on Friday are eurozone current account numbers at 0900 GMT.