9 April 2021 | 09:34am
StockMarketWire.com - The FTSE 100 cooled its rally Friday as banks and travel-related stocks fell, though the broader market recovery is expected to continue as the country eyes a further lifting of restrictions next week.
At 09:22, the benchmark FTSE 100 index was down 31 points, or 0.5%, at 6,910.86.
Babcock slumped Friday 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 share price fell 8.50% to £2.17. 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.
9 April 2021 | 07:19am
StockMarketWire.com - 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.
The current order book stood at $155 million and was expected to increase in the second half of the year.
The weighting of revenue to the second half of the year, together with increased inventory holdings to manage longer material lead times, has reduced cash conversion in the first half, but the company expects full year cash conversion to be in line with its 90% plus guidance.
9 April 2021 | 17:34pm
StockMarketWire.com - 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.
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