Market Report: Investors couldn't ditch the owner of Superdry quickly enough

SuperGroup was out of fashion with traders yesterday after a disappointing update.

Sales at stores open for at least a year fell by 1.3 per cent during the last three months, with the Superdry owner blaming a "challenging" environment. Management also warned that full-year profits are likely to be at the low end of expectations.

Despite a mild reaction from analysts – just a "timing blip", said one – investors couldn't ditch the windbreaker and polo shirt maker fast enough. SuperGroup ended the day 169p lower at 1,179p.

The FTSE 100 chalked up its first day of gains this week, closing 42.81 points higher at 6,839.25. Barclays' turnaround plans helped drive the gains, with the bank putting on 19.15p to 262.45p.

The British Airways owner IAG rose ahead of first-quarter results out today. It added 10.4p to 404.6p.

The accounting and payroll software provider Sage was the worst performer after the surprise departure of long-standing chief Guy Berruyer. Sage lost 22.5p to 399.5p.

The digital sports specialist Perform surged to the top of the FTSE 250 thanks to first-quarter revenues up 32 per cent on last year. Perform, which looks after live streaming and websites for the likes of Chelsea, added 16p to 250p.

The private equity group 3i advanced 11.1p to 384p on the back of bullish notes from Oriel Securities and Société Genéralé. Both set a target price of 460p and predicted that the restructuring of the business will reap rewards for shareholders at the annual results next Wednesday.

Hume Capital Securities fell to the bottom of AIM after the chief executive stepped down amid a review of the finances. Hume, off 0.05p at 0.13p, said it is in advanced talks with a group of investors over potential funding.

LZYE, the AIM-listed operator of children's clubs in Hong Kong, surged 0.6p to 0.7p after admitting that its plan to delist has been defeated by proxy votes.

New World Oil & Gas, one of AIM's many energy operators, moved closer to a slice of Kuwait's fossil fuels with an agreement to participate in bid rounds for drilling and production in the oil-rich state. New World rose 0.17p to 0.72p.

Investors couldn't ditch the owner of Superdry quickly enough

Start your day with The Independent, sign up for daily news emails
ebooks
ebooksA celebration of British elections
  • Get to the point
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Recruitment Genius: Claims Administrator

£16000 - £18500 per annum: Recruitment Genius: This is an excellent opportunit...

Recruitment Genius: Senior SEO Executive

£24000 - £28000 per annum: Recruitment Genius: A Senior SEO Executive is requi...

Recruitment Genius: Online Customer Service Administrator

£16000 - £18000 per annum: Recruitment Genius: An Online customer Service Admi...

Recruitment Genius: Digital Marketing Executive

£18000 - £22000 per annum: Recruitment Genius: This global, industry leading, ...

Day In a Page

Fishing for votes with Nigel Farage: The Ukip leader shows how he can work an audience as he casts his line to the disaffected of Grimsby

Fishing is on Nigel Farage's mind

Ukip leader casts a line to the disaffected
Who is bombing whom in the Middle East? It's amazing they don't all hit each other

Who is bombing whom in the Middle East?

Robert Fisk untangles the countries and factions
China's influence on fashion: At the top of the game both creatively and commercially

China's influence on fashion

At the top of the game both creatively and commercially
Lord O’Donnell: Former cabinet secretary on the election and life away from the levers of power

The man known as GOD has a reputation for getting the job done

Lord O'Donnell's three principles of rule
Rainbow shades: It's all bright on the night

Rainbow shades

It's all bright on the night
'It was first time I had ever tasted chocolate. I kept a piece, and when Amsterdam was liberated, I gave it to the first Allied soldier I saw'

Bread from heaven

Dutch survivors thank RAF for World War II drop that saved millions
Britain will be 'run for the wealthy and powerful' if Tories retain power - Labour

How 'the Axe' helped Labour

UK will be 'run for the wealthy and powerful' if Tories retain power
Rare and exclusive video shows the horrific price paid by activists for challenging the rule of jihadist extremists in Syria

The price to be paid for challenging the rule of extremists

A revolution now 'consuming its own children'
Welcome to the world of Megagames

Welcome to the world of Megagames

300 players take part in Watch the Skies! board game in London
'Nymphomaniac' actress reveals what it was really like to star in one of the most explicit films ever

Charlotte Gainsbourg on 'Nymphomaniac'

Starring in one of the most explicit films ever
Robert Fisk in Abu Dhabi: The Emirates' out-of-sight migrant workers helping to build the dream projects of its rulers

Robert Fisk in Abu Dhabi

The Emirates' out-of-sight migrant workers helping to build the dream projects of its rulers
Vince Cable interview: Charging fees for employment tribunals was 'a very bad move'

Vince Cable exclusive interview

Charging fees for employment tribunals was 'a very bad move'
Iwan Rheon interview: Game of Thrones star returns to his Welsh roots to record debut album

Iwan Rheon is returning to his Welsh roots

Rheon is best known for his role as the Bastard of Bolton. It's gruelling playing a sadistic torturer, he tells Craig McLean, but it hasn't stopped him recording an album of Welsh psychedelia
Morne Hardenberg interview: Cameraman for BBC's upcoming show Shark on filming the ocean's most dangerous predator

It's time for my close-up

Meet the man who films great whites for a living
Increasing numbers of homeless people in America keep their mobile phones on the streets

Homeless people keep mobile phones

A homeless person with a smartphone is a common sight in the US. And that's creating a network where the 'hobo' community can share information - and fight stigma - like never before