Main Menu

Poundland falls despite new sales milestone

Poundland sharesPoundland sales broke through £1 billion for the first time and the company said it will open 40 stores in the first half. But shares fell 11p or 3.5% to 300.5p after the discount retailer said first-quarter growth had slowed and first-half trading would be subdued.

Premier Farnell, a distributor of small electronics and parts, dropped 5.5% after saying first-half adjusted operating profit would be marginally below last year.

Online gaming company Playtech said trading was strong, but it fell 0.9% after saying it would raise £250 million through a share placing.

Toy firm Hornby has raised £15 million in a placing, renegotiated debt with Barclays, and will drop down from the Main Market to AIM.

FTSE 100: A strong bounce in miners and a rally in U.S. equities helped the index move higher and off a five-month low. It closed 27.33 points or 0.4% higher at 6,707.88 points after falling to 6,625.16, its lowest since late January.

US equities rose 1.1 to 1.3%, following indications from the US Federal Reserve that the pace of any rate hikes would be slower than expected.

 

 



Leave a Reply

Your email address will not be published. Required fields are marked as *

*

This site uses Akismet to reduce spam. Learn how your comment data is processed.