Good morning from London where the FTSE 100 has finally broken out of the holding pattern its been since last Thursday, falling below 7,400 points.
The index is being weighed down in general by some mixed economic signals coming out of Asia, but also by some notably tough starts to the day for some big-name equities. Paddy Power owner Flutter Entertainment PLC (LSE:FLTR) is the biggest faller so far, saying in a Q3 trading update today that it expects full-year earnings - excluding the US market - to be at the bottom of its previously forecast range.
Discount retailer B&M European Value Retail SA (LSE:BME) also down heavily today despite raising its full-year profit guidance and reporting a 16.1% rise in first half core earnings. They’re certainly not the only ones reporting good news and getting hammered for it at the moment.
Today’s big riser is Auto Trader Group PLC (LSE:AUTO), its shares are up 6% after some strong interims that showed a 10% increase in group operating profit to more than £160mln.
Some rays of sunshine for housebuilders too, with Taylor Wimpey PLC (LSE:TW.) saying it expects to come in at the top-end of expectations for its operating profits although it said the market remains challenging.
Surveyors are saying that the pace of house price falls may also be steadying as the end of the year approaches. That’s all for this morning.
