Genus tumbles 8.5% on results day as ABF's slide deepens past 10% #
The FTSE 100 moved lower, now down 44 points, to 10625.
Primark-owner Associated British Food was a notable mover, losing around 10.3% to 1812.5p and sitting at the session low, deepening from the morning's slide as the suga
Hargreaves Lansdown said the update "has done little to hint that a sharp improvement in fortunes is around the corner for ABF," while Interactive Investor noted market consensus has "recently deteriorated to a sell with no obvious remedies in sight."
AJ Bell (LSE:AJB) struck a different note on the Primark side, calling the group's move into home delivery "the biggest UK retail news of the year."
Elsewhere, Genus has dropped 8.5% to 2044p despite posting a strong set of full-year numbers, the group's preliminary results show adjusted operating profit up 25% including joint ventures, adjusted pre-tax profit up 35%, and a fresh £60m share buyback, driven by strong porcine genetics growth and a £5.6m milestone payment from its Chinese partner Beijing Capital Agribusiness.
In the small-caps, Empyrean Energy shares jumped 27.73% to 0.0479p on completion of its Nations farm-down and a Mako funding milestone in Indonesia.
Roundhouse Digital has added 9.91% to 5.825p following a corporate update tied to its planned AIM admission.
Kendrick Resources has extended its advance to 15.64%, as its Namibia rare earth project clearing a radioactivity hurdle.
ABF sinks 8.7%, Sunbelt slides 6.4% while Currys and Harbour rise #
Associated British Foods leads the FTSE 100's fallers, down 8.69% to 1844.5p, after the group flagged widening losses in its sugar business alongside plans for Primark to launch home delivery in Great Britain.
Sunbelt Rentals has extended its decline, now down 6.41%, at 5316p.
Meanwhile, Speedy Hire is down 6.25% at 15p after cautioning on profit despite revenue growth of 4.6% in the year to July, a trading update the company delivered ahead of its AGM.
Currys is up 2.18% to 155p, sitting at its session high after reporting UK & Ireland like-for-like revenue growth of 6% and a 9% gain in the Nordics.
On the other side of the board, Zegona Communications (LSE:ZEG) has pushed further ahead to 1668p, up 3.35% and now trading near the top of its session range.
With the crude price high, Harbour Energy added 2.33% to 281p.
FTSE steady at 10,669 as Eleco doubles on £207.6m takeover bid #
The FTSE 100 started steady, at 10,669, little changed from Wednesday's close.
Eleco is Thursday's standout early mover, surging to 228.56p after Accel-KKR's board-recommended cash offer values the software group's takeover at £207.6m.
Boohoo Group is up 12% at 23.8p after confirming the £90m sale of its Sheffield distribution centre to Primark.
Currys has added a further 2.18% to 155p, a session high, after its trading update showed UK & Ireland like-for-like revenue up 6% over the 17 weeks to 29 August, with Nordics sales up 9%.
Sunbelt Rentals is the session's notable early faller, down 5.28% to 5,380p, despite Wednesday's report of an 11.2% rise in first-quarter revenue and raised full-year guidance.
FTSE seen firmer at open despite oil-driven Wall Street slide, VIX spike #
The FTSE 100 is seen slightly firmer ahead of Thursday's open, with IG's early pre-market quote marked at 10,661, up 6 points from Wednesday's close.
It comes after Wall Street closed lower for a third straight session on Wednesday, with the Dow off 358 points at 52,427.
The S&P 500 was down 35 points at 7,638 and the Nasdaq Composite finished 180 points lower at 26,241 as the price of oil tipped above $100 a barrel and stoked fresh inflation worries.
The VIX - aka the volatility and fear index - jumped 4.77% to 16.47 in the same session marking the heightened anxiety across markets.
In Asia, Japan's Nikkei 225 was off 262 points, or 0.4%, at 64,880.
This morning, the price of oil remains central to the story, with Brent pricing at $98.78, having eased somewhat, but still stoking inflation fears.
Traders are betting on four rate hikes apiece from the ECB and the Bank of England as energy costs climb, and Reuters has tied the oil shock directly to higher global yields and a subdued currency market.
Deutsche Bank's Jim Reid, in his commentary, described markets as "treading water" this week as rising energy prices dampen risk appetite.
Ipek Ozkardeskaya, analyst at trading platform Swissquote, cautioned that Treasury bond-buying "cannot make the underlying reasons investors demand higher yields disappear."
Gold barely moved overnight, and is priced at $4,464 per ounce, while bitcoin and ether have each ticked only slightly higher. Meanwhile, cable is indicated at 1.3553, up 0.05%.
The day ahead sees inflation readings out of the eurozone and the US, with an ECB decision now firmly in view as policymakers weigh the oil shock against price stability.
