Domino's Pizza Group (DOM)

 

Lower commodity prices hit miners

Miners went into reverse on falling commodity prices with the exception of gold, which moved 0.2% higher to $1,343 per ounce.

Copper was among the weakest, down 1% to $3.15 per pound.

Miner Anglo American (AAL) shed 2% to £17.21 on news that the value of rough diamond sales at De Beers fell compared to the prior year.

Glencore (GLEN) fell 1.5% to 408.9p and Antofagasta (ANTO) was down 1.4% to 939p.

Housebuilders also struggled with Taylor Wimpey (TW.) and Barratt Developments (BDEV) declined by approximately 1.4% apiece.

The FTSE traded 0.6% lower at 7,624 around midday.

Brent crude oil was 0.4% lower at $69.18 per barrel.

MID AND LARGE CAP RISERS AND FALLERS

Domino's (DOM) said it expects to beat pre-tax profit expectations as more people order in and watch TV. The pizza delivery company said the X Factor final on 2 December was its biggest day for sales in 2017. Investors were relieved that sluggish UK growth could be over as the shares rose 2.6% to 359.5p.

Zoopla owner ZPG (ZPG) was comfortable with slowing UK house price growth, leaving its financial year 2017 market expectations unchanged. The stock was stable at 350.8p.

Informa (IMF) confirmed the £3.8bn takeover of events specialist UBM (UBM), creating an enlarged business information and events company.

Components distributor Diploma (DPLM) appointed Richard Ingram to replace chief executive Bruce Thompson who decided to retire in September. Investors took the news in their stride as the shares nudged 0.2% higher to £11.77.

Imperial Leather and Carex owner PZ Cussons (PZC) reported tough trading conditions in Europe and Africa in its six months to 30 November hit adjusted operating profit by 10.3%. Shares in the midcap slid 3.1% to 319.8p.

After the markets closed on Monday, Melrose (MRO) said it was 'surprised' that takeover target GKN (GKN) did not reveal the company plans to make a £150m voluntary cash contribution for GKN's pension fund. Both stocks were flat on the latest development.

A strong first quarter and US tax reform bode well for UDG Healthcare (UDG) with adjusted earnings per share expected to increase by between 18% and 21% in 2018. The market expected this as the stock retreated 0.7% to 806.5p.

Activist investor Elliot Capital increased its stake in broadcaster Sky (SKY) to 1.29%, but this did not affect the shares.

SMALL CAP RISERS AND FALLERS

Luxury handbags brand Mulberry (MUL) said it would continue manufacturing in Britain despite higher leather import costs since the Brexit vote. Shares in the company dipped 2.4% to 966.4p.

The government of Gibraltar awarded an advanced works contract to wastewater treatment specialist Modern Water (MWG), which is in a joint venture with NWG Commercial Services. Shares in Modern Water surged 91% to 16.5p.

Antennas manufacturer Filtronic (FTC) warned its second half performance is anticipated to be similar to its first half trading where operating profit fell from £1.8m to £0.9m. The company said further growth was expected to be delivered in 2019, triggering a 21% drop to 9p.

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