FTSE stable despite Shell slump

The blue chip index remained stable at 6,711 and the FTSE 250 nudged higher to 17,747 on positive economic data.

Index giant Royal Dutch Shell (RDSB) slumped as West Texas Intermediate crude prices dipped 2.3% to $45.2, while British Airlines owner International Consolidated Airlines (IAG) gained 1.2%.

Brent crude oil fell 2% to $47.31 per barrel, while copper rose 0.7% to $4,651 per tonne.

Rising food prices and air fares pushed the Consumer Prices Index (CPI) 0.6% higher in the year to August 2016, which was unchanged from July and lower than expected.


Online supermarket Ocado (OCDO) dropped 14.4% to 275.6p despite bagging higher retail sales in the 12 weeks to 7 August, as the average order size more than halved to £107.94.

JD Sports Fashion (JD.) sprinted 4.8% higher to £13.97 after increasing revenue by a fifth and boosting its operating profit and pre-tax profit by over 60% in the 26 weeks to 30 July, which was delivered on strong like-for-like sales growth.

Esure (ESUR) confirmed plans to demerge insurance comparison website Gocompare.com. It said shareholders are set to receive free shares in Gocompare when it lists on London’s main market this year.


Investors itched to sell off shares at TyraTech (TYR) after the life science company issued a profit warning, which it blamed on inadequate levels of head lice in the US. TyraTech said the treatment market softened and made it difficult to forecast future sales. The shares dropped 37.5%.

A profit warning from network security company Corero (CNS) caused investors to jump ship, triggering a share price drop of 35% to 13p, as a result of ‘large opportunities taking longer to close than originally anticipated.’

Betting operator Sportech (SPO) said it will sell the Football Pools unit for £97.25 million in a deal which will include the business being re-listed on AIM.

Early-stage healthcare outfit Futura Medical (FUM) got a shot in the arm on interim results as chief executive James Barder was optimistic about clinical study results published last week on an erectile dysfunction treatment.

Amryt Pharma (AMYT) was boosted by news of a patent approval for its lead drug, Episalvan, which treats a rare skin disorder called Epidermolysis Bullosa.

Industrial engineer TP Group (TPG) traded 4.3% higher as half-year results showed the business broke even via a £1 million swing at the earnings before interest, tax, depreciation and amortisation (EBITDA) and an increase in revenue.

DiamondCorp (DCP) declined 16.7% after reporting less diamond sales in September following flooding issues, which resulted in nine less days of production last month.

Visual merchandising provider Attraqt (ATQT) rose 15.8% following revenue growth of a quarter, which was supported by continued strong sales momentum.

Oxford Biomedica (OXB) dropped 6.2% after first half pre-tax loss widened to £11.9 million from £8.6 million and announced a fundraise of £11.5 million.

Payment technology provider SafeCharge International (SCH) failed to spark investor confidence despite its profit after tax rising from $12.4 million to $15.2 million year-on-year.

Video games technical service provider Keywords Studios (KWS) was in positive territory after revealing adjusted pre-tax profits of € 6 million in the first half of the year, some 177% higher.

Story provided by StockMarketWire.com