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FTSE 100 makes muted start after mixed global performance

By BFN News | 08:36 AM | Thursday 17 May, 2018


The FTSE 100 added 9.5 points to 7,743 on Thursday morning following a mixed performance in the global equities market. Ocado (OCDO) was the strongest performer, soaring 36% to 752p after signing a partnership agreement with Kroger, under which Ocado's technology will be used in the US exclusively by Kroger for grocery and other food distribution related activities. Wincanton (WIN), a provider of supply chain solutions, increased its revenue by 4.8% to £1,171.9m in the year ended 31 March 2018, driven by contract wins with IKEA, Hanson, wilko and Wickes, driving its share price 3% higher to 274p. Experian (EXPN) gained 2.7% to 1,754p on news it will execute a $400m share buyback programme despite reporting a 7% fall in profit before tax for the year to end of March. Meanwhile, bookmaker William Hill (WMH) tumbled 5% to 301.6p after warning annualised adjusted operating profit in its retail division could be reduced by £70m to £100m as a result of a decision by the Department for Digital, Culture, Media and Sport to reduce the maximum stake on B2 games from £100 to £2. Thomas Cook (TCG) fell 3.8% to 140.6p despite improving its seasonal underlying EBIT loss by £13 million in the six months to 31 March, reflecting a strong airline performance. Revenues grew by 5% to £3,227 million, driven by growth to Egypt and long-haul destinations. Royal Mail (RMG) also failed to impress, with its shares falling 4% to 573p after reporting its revenue grew by 2% on an underlying basis to £10.2 billion in the year ended 25 March 2018, driven by UKPIL and GLS parcels growth. Story provided by StockMarketWire.com

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