Market Report: Perform jumps as turnaround plan 'on track'
Saturday 05 April 2014
The digital sports rights group Perform jumped up yesterday: Oliver Slipper, the chief executive, said the turnaround plan was on track.
The company, which runs websites for Premiership clubs including Chelsea and Fulham, took part in a discussion hosted by Credit Suisse on “digital disruption” in media.
Perform has had its fair share of that, with shares halving in December after the company warned profits would be 75 per cent lower, due to slower than expected growth in advertising. But Mr Slipper reassured investors at the meeting. He said Perform had done “most of the heavy lifting” in terms of restructuring, with benefits starting to come through, helping the group up 13.9p to 260.9p.
Solid enough US job numbers saw investors pile into cyclical stocks, with miners adding 9.99 points to the blue-chip index and banks contributing 5.65. The FTSE 100 closed 46.41 points higher at 6,695.55.
RSA was in favour, rising 3.15p to 94.15p. Speculation continues to swirl around Cevian Capital’s intentions with the insurer. The Swedish investor disclosed a stake last week.
The takeaway tech success Just Eat made gains on its second day of trading, climbing 7.75p to 290.75p.
Marks & Spencer tumbled 9.7p to 461.9p after Goldman Sachs warned that the retailer, which reports next Thursday, will not be immune to the price crunch hitting supermarkets.
The satellite company Inmarsat put on 1.5p to 745p after announcing that its US partner had paid it $5m (£3m). But Inmarsat warned that future scheduled payments from LightSquared, which filed for bankruptcy two years ago, were “subject to significant uncertainty”.
The steel producer Evraz, controlled by Roman Abramovich, marched up 3.9p to 79.9p after offloading its Czech subsidiary for $89m to help it to pay down debt.
The small cap oil and gas producer RusPetro was 1p down at 18.5p after revealing widening losses for 2013, up to $74.2m from $28.1m a year earlier.
The Aim-listed explorer Wishbone Gold lost 0.12p to 1.62p over cash concerns. TCS Holdings was downgraded by JPMorgan and it fell 0.1p to 6.5p.
Actress sees off speculation about her appearance in an amazing way
Review: Despite an uphill climb to see Jake Bugg in action, his performance is notably flat
Powerful images of strays taken moments before being put down
- 1 Renee Zellweger on plastic surgery claims: 'I'm living a more fulfilling life and I'm thrilled that perhaps it shows'
- 2 Salisbury ranked seventh-best city in the world to visit in Lonely Planet’s Best in Travel 2015
- 3 Disney announces new female-led film Moana
- 4 Banksy not arrested: Internet duped by fake report claiming artist's identity revealed
- 5 Russell Brand threatened with arrest after filming outside Fox News headquarters
Australian jihadist Abdullah Elmir vows Isis will fight 'until black flag is on the top of Buckingham Palace'
Renee Zellweger on plastic surgery claims: 'I'm living a more fulfilling life and I'm thrilled that perhaps it shows'
Chicago voter tells Obama 'don't touch my girlfriend' – Obama stays super smooth
Oscar Pistorius: The brutal prison life that awaits disgraced athlete
Banksy not arrested: Internet duped by fake report claiming artist's identity revealed
Cameron is warned 'no possibility' of UK reducing immigration and that bid to bring in quota on migrant workers would be illegal
Residents should throw a street party and mix with immigrant neighbours, councils told
Russell Brand threatened with arrest after filming outside Fox News headquarters
Of course, teenage girls need role models – but not like beauty vlogger Zoella
London bus driver 'kicks gay couple off for kissing'
Jose Manuel Barroso warns David Cameron against making 'historic mistake' over immigration reforms
iJobs Money & Business
£18000 - £23000 per annum + Commission: SThree: The SThree group is a world le...
£18000 - £23000 per annum + Comission: SThree: The SThree group is a world lea...
£20000 - £25000 per annum + OTE £Competitive: SThree: SThree Group and have be...
£23000 per annum + pension and 22 days holiday: Ashdown Group: An established ...