Become a Member
  • Track your favourite stocks
  • Create & monitor portfolios
  • Daily portfolio value
Sign Up

FTSE edges lower, Novacyt slides on profit warning

Fri, 9th Apr 2021

London's FTSE 100 finished lower on Friday as travel-related stocks fell and after the S&P 500 and Nasdaq opened lower, with a rise in US bond yields weighing on highly valued tech stocks a day after the S&P 500 set a record closing high. By the close, the benchmark FTSE 100 index was down 0.38% at 6,915.75 points, though the FTSE 250 ended 0.02% higher at 22,251.26. Shares in International Consolidated Airlines, TUI, On the Beach and Jet2 all fell following the publication of the government's report into foreign travel. Even if foreign travel gets the go-ahead next month the season has already been curtailed and airline and package holiday provider Jet2 said it won't even think about restarting holidays until the end of June because of a lack of clarity and detail, sending its shares 5.1% lower to £12.98. Diagnostics firm Novacyt slumped 39% to 422p after the testing specialist warned sales and profits for 2021 may fall short of market expectations due to a failure to extend its supply contract with the UK's Department of Health and Social Care. Babcock slumped as the defence company is reportedly set to announce a string of asset writedowns costing several hundred million pounds, according to a Financial Times report, citing unnamed sources. Babcock's shares fell 1.6% to 233.3p. Military equipment company Avon Rubber said it remains 'confident' of achieving its expectations for the current financial year as positive momentum continued into the second quarter. Revenue for the first half of the year is expected to be $122 million, up from $87 million. The growth included a first-time contribution from Team Wendy of $20m during the first five months of ownership. Avon Rubber's share price rose 1.2% to £34.72. Frasers, formerly Sports Direct, flagged a further writedown in excess of £200 million to its assets owing the pandemic impact as it envisaged a third-wave of Covid would result in further Covid-19 restrictions. Frasers' share price rose 1.4% to 504p. Rio Tinto has entered into a binding Heads of Agreement with Turquoise Hill Resources for an updated funding plan of about $2.3 billion to complete the Oyu Tolgoi Underground Project in Mongolia. The funding plan builds on and replaces the arrangements established in the Memorandum of Understanding that Rio Tinto and TRQ previously entered into on 9 September, 2020. Rio Tinto's shares fell 1.6% to £56.63. Private label loo rolls-to-facial tissues maker Accrol advanced 7% to 62p as it announced the acquisition of John Dale, a flushable and biodegradable wet wipes business, for £3.9 million in cash. Story provided by

FTSE 100 Latest