The FTSE 100 (FTSEINDICES: ^FTSE) is still looking weak today, hovering five points down on 6,547 by early afternoon, after a mixed set of trading updates from key UK firms. The energy suppliers are down further today over worries about what damage Labour might do to them if it wins the next election, and good trading news from companies like TUI Travel was not enough to lift the index overall.
Which companies are struggling? Here are three from the FTSE indices taking a hit from today’s news:
London Stock Exchange
London Stock Exchange shares suffered a modest fall this morning, dropping 6p (0.4%) to 1,562p, in response to an update ahead of interim results due on 13 November, which actually sounded positive.
With the recession slowly receding into the distance, activity on the stock exchange is on the up, and the average value of UK equities traded each day has risen by 5%. The LSE’s markets also saw £9.3bn in equity capital raised from 63 new issues, compared to £4bn and 53 issues over the same period a year previously — and the pipeline for the rest of the year is apparently looking good.
Ladbrokes
Things are looking a bit grim at Ladbrokes (LSE: LAD), after the gambling firm issued a profit warning this morning. After a difficult summer for the firm’s retail arm and “disappointing” online business, the firm now expects operating profit for its digital division in the range of £10-14m — and that’s quite a bit below the £27.5m previously expected.
The shares responded with a 13p (6.9%) drop to 175.5p, taking them into negative territory over the past 12 months, with a fall of more than 25% since March’s highs.
Thomas Cook
The market responded badly to an update from Thomas Cook Group (LSE: TCG) today, despite an assurance from the travel firm that things are still going “in line with market expectations”. The upheaval in Egypt doesn’t appear to have caused much trouble for the bottom line, though it has clearly affected people’s choices of destination.
But worries over winter business seem to be behind the share price drop, as the firm reported a slower start than last year — and that comes as a contrast to TUI Travel, who today told us its winter season is off to a good start.
