A bad start to the day for Compass Group left the London stocks struggling to recover after MFI Furniture Group also reported bad news.
The FTSE 100 index closed down 22.8 points or 0.5% to 4535 after the catering firm Compass Group announced its profits will be below expectations. Within the first hour of trading, its share value plummeted by a quarter and the firm never recovered as Compass closed down 81.5p or 25.49% to 238.25p. MFI, the maker of furniture, also saw major losses after announcing it is not doing as well as hoped in the UK market. MFI dropped 22p or 17.39% to 104.5p, to leave the FTSE All-Share index down 8.7 points or 0.3% to 2255.48. Elsewhere on the FTSE 100, Amvescap closed down another 12.25p...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
