Fri, 14th Dec 2018
The FTSE 100 ended trading yesterday on a down note, and the FTSE 250 also ended weak, as the EU confirmed that quantitative easing would come to an end in January.
European benchmarks were also weak, with Brexit fears adding to the difficulties as the UK’s blue-chip benchmarks struggled.
The European Central Bank has confirmed that it will be ending its asset purchase program, and that it will be keeping the main interest rate on hold as a rate of 0%. Bank Chief Mario Draghi gave a downbeat outlook, but this is understandable given the economic cooling in Europe, and the recent fall in oil.
There were still some strong performers on Thursday. TUI AG rose by 4.48% after posting an impressive set of results which bucked the trend in the travel sector. Revenue, and underlying earnings for the year, advanced by 6.3% up to 10.9%. Dividends for the company increased from 65 cents up to 72 cents.
Some of the weaker performers on the day were Bonmarche, Sports Direct, and Koovs who all published disappointing trading updates. Meanwhile, GAME Digital announcd plans to move its listings from the main market to AIM and this led to a 6.1% fall in the share price of the company. One of the better performers of the day was VR Education Holdings PLC, who gained 37% after announcing the launch of its new ENGAGE online learning and trading platform, which has already had interest from Nokia.