It’s a quiet end to the week but BP was an outlier amongst the blue chips in filing market news. That was in the form of a Q2 trading update and despite falling prices being set to take a toll on the company’s performance, this was evidently within the expected parameters whilst word of improved upstream production offered investors something to cheer. As a result, the BP share price edged around 2% higher in early trade.
It should have been a week of cheer for transport hub caterers SSP after the company confirmed that the IPO of its majority owned Indian subsidiary TFS had been priced at the very top of the previously stated range. However shares in the parent were pressured this morning after a broker downgrade on the basis of falling growth in terms of airline capacity. That’s served to take back around half of the gains posted since the release of interims back in May. The SSP share price was down almost 6% by 8.30am.
Online gambling play Flutter announced this morning that it had bought the final 5% that it didn’t already own in Fan Duel. That came with a $1.7bn price tag and means that the valuation of Fan Duel now makes up a significant propotion of the company’s market cap, but investors seem to be happy that this has represented value on the basis it lowers market access costs and offers significant economies of scale. The Flutter share price has been jumping around in early trade but was almost 1% higher at 8.30am.
Most read news on Investegate this morning
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