The FTSE 100 opens down by 20 points to 7,377.93 following a mixed bag of trading in the US and Asia. In the US last night the Dow Jones and S&P 500 both closed down whereas Hong Kong’s Hang Seng index today rose 0.5%.
The biggest FTSE 100 fallers in early trading on Friday are Marks & Spencer (MKS), down 2.5% to 319.05p; and doorstep lender Provident Financial (PFG) which declines 2.2% to 771.25p.
On the UK markets, pub operator and brewer Greene King (GNK) crashes nearly 23% to 582p after releasing a disappointing trading statement. Like-for-like sales in its pub business were down 1.2% in the first 18 weeks of its financial year to 3 September.
Excluding Fayre & Square, which is being rebranded this year, sales were down by 0.9% on a like-for-like basis. The company says its remains cautious about the trading environment and expects the challenges of weaker consumer confidence, increased costs and increasing competition to persist over the near term.
The Daily Mirror’s publisher Trinity Mirror (TNI) ticks up 1.1% to 91.75p as it reveals talks to buy 100% of the publishing assets of Northern & Shell which includes the Daily Express and OK! magazine.
Memory mattress maker Eve Sleep (EVE:AIM) shares tick up 1.2% to 81.50p after the company reveals a major German retail partnership agreement. The deal is with Karstadt, a German department store chain and Eve Sleep’s products will be present in its 79 shops across Germany. Read our recent article on Eve Sleep to better understand its investment case.
PVC window maker Safestyle UK (SFE:AIM) loses almost a third of its value as its shares crash by 31.2% to 162p following yet another profit warning. The company blames a fall in orders on increasing ‘consumer caution’.
Gold exploration company Stratex (STI:AIM) is down 16.4% to 1.15p as a group of shareholders request a meeting to discuss the direction of the company. They want to block to the acquisition of Crusader Resources.
Food chain biotech company Benchmark (BMK;AIM) is down 11.9% to 44.5p as its releases a trading statement indicating that its sea lice treatment won't be ready for this year. The company has been working with major salmon producers for the product.
