Markets get off to a slow start on Monday with the FTSE100 losing 0.3% to 7,094 points and US futures down a similar amount after losses in Asia on escalating trade concerns.
Shares in insurer Hiscox (HSX) retreat 7% to £15.32 after the company reports third-quarter results which include $125m of provisions for catastrophe losses. It also notes that claims have extended into October.
As well as higher losses due to hurricanes and typhoons the company has seen an increase in ‘larger individual claims’ including a $13m loss in its marine portfolio.
Software and technology group Micro Focus (MCRO) issues a positive trading update for the 12 months to the end of October and extends its buyback programme, lifting the shares by 3% to £12.65.
Trading in the second half of the year improved as the company hoped so revenues will be around the top end of guidance, albeit still down on the previous year.
The buyback has been extended to $400m including $171m of shares already purchased up to 24 October.
ASTON MARTIN ACCELERATES
Luxury car-maker Aston Martin (AML) sees its shares rise 1.5% to £15.70 ahead of a widely-anticipated third-quarter earnings update from peer Ferrari.
Shares looked at the Aston Martin investment case recently, which you can read here.
Meanwhile shares in plastic group RPC (RPC) drift down 1% to 775p after the company requested that the Takeover Panel give suitors Apollo and Bain Capital another month to table an offer or walk away.
This is the second time that RPC has requested an extension to the bidding process after revealing in September that it was in talks with both parties.
Also in the packaging sector shares in DS Smith (SMDS) give up 2% to 382p ahead of its pre-close first-half trading statement tomorrow.
While sales are expected to show a continuation of the positive trend seen in the first quarter investors will be looking at whether the company has been able to maintain its margins after a rise in input costs earlier in the year.
Finally, After an unsuccessful attempt to raise funds, troubled butcher Crawshaw Group (CRAW) announces it is closing stores and appointing administrators to put the business up for sale.
