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Travis Perkins weighs on FTSE 100 | |
(about 4 hours later) | |
(Noon): Shares in the DIY group Travis Perkins weighed on the FTSE 100 after the company issued a profits warning. | |
Travis Perkins shares were more than 5% lower at midday after it said summer trading was slower than expected and that full-year profits would be at the lower end of City expectations. | |
The FTSE 100 was down by 0.06% or 3.8 points at 6,344,54. | |
Shares in Debenhams rose more than 5% after the retailer reported a rise in full-year profit to £113.5m. | |
The company also said its chief executive, Michael Sharp, would step down in 2016 as planned, following reports that the board was planning a management shake-up. | The company also said its chief executive, Michael Sharp, would step down in 2016 as planned, following reports that the board was planning a management shake-up. |
On the broader share market, the FTSE 250, the estate agent Foxtons fell 5% after it said the central London property market would take time to recover. | On the broader share market, the FTSE 250, the estate agent Foxtons fell 5% after it said the central London property market would take time to recover. |
The company also reported an 8.8% rise in turnover to £43.5m for the three months to September. | The company also reported an 8.8% rise in turnover to £43.5m for the three months to September. |
On the currency markets, the pound rose 0.32% against the dollar to $1.5467 and gained 0.49% against the euro to €1.3666. |