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The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
Go to Proactive UK
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Business & education services

FTSE 100 reverses course to end in red

In thin trading, the top-share index lapsed into the red, with oil heavyweights weighing the Footsie down

The Footsie surrendered gains in the afternoon session, but after the battering received last week investors would probably accept an 18 point fall.

The top-share index finished the day at 6,035 after rising as high as 6,114 at one stage.

Oil giants Royal Dutch Shell and BP weighed on the index as the price of oil hovered around an 11-year low.

Investors switched on to shares in ITV (LON:ITV), which rose by 7.7p to 271.5p on a weekend report that Comcast's NBC Universal had held talks with the UK broadcaster about a potential merger.

The market was a bit more sceptical about a bit of bid gossip relating to security outsourcing specialist G4S (LON:GFS), where the wise talk from side-walk is suggesting that private equity groups are sniffing around.

The stock fell 0.1p to 217.4p, as talk emerged that a number of unidentified firms were looking at the company, whose shares have been on a roller-coaster ride in the last few years.

G4S sparked controversy at the 2012 Olympic Games by failing to provide enough security guards, which led to the departure of former chief executive Nick Buckles.

Subsequently it also faced problems over alleged over-charging on a UK government prisoner tagging contract.

In the last five years, the shares hit a high of about 313p in April 2013 but then slumped to a low of 207p in July that year.

Proactive Investors contacted G4S for comment and, predictably, the company's spokesperson declined to comment.

Among the tiddlers, Premier Veterinary Group (LON:PVG) shot up 27% to 125p as it announced it has sold its veterinary business, with the cash going to pay off debts and fund the roll-out of its pet care plan business.

Weatherly International (LON:WTI) surged 23% after receiving further financial backing from its major shareholder, Orion Mine Finance.

In contrast, shares in Gable Holdings (LON:GAH) plunged 28% as it said reported profits for 2015 would be dented to the tune of £2mln as a result of funding arrangements to ensure its wholly-owned subsidiary, Gable Insurance AG, meets the initial capital requirements on 1/1/16 for the Solvency II regime.

Holding company C H Bailey (LON:BLEY) fell into the red as a result of difficult trading conditions in the South African hospitality business and a loss on the disposal of a hotel in Malta.

The shares shed 14.1%.

*Remember, Proactive is reporting the hot market topics being discussed by traders and bankers - it is not market fact. Neither is it an invitation to trade on the information.

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The Markets
by Proactive
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