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FTSE 100 up but Domino's Pizza shares hit as sales slow

Shares in Domino’s Pizza were down nearly 7% before closing down 5.5% after it delivered disappointing news on its sales growth.Six months UK like-for-like sales growth was 2.4% from 13% last year.The news overshadowed a 9% increase in profits for the half year to £44.6m, Virgin Money was another FTSE 250 member having a bad day. Its shares fell 9% after the bank warned there could be some “areas of weakness” in the UK housing market.However, Virgin said the housing market should remain “resilient”, and it reported a 26% rise in half-year underlying profits to £128.6m.London’s benchmark FTSE 100 share index was up 57.09 at 7,434.82 at the close. Top risers were the miners in afternoon trading, with Kaz Minerals leading the charge with a gain of 9%. The copper price hit a five-month high after reports of stronger-than-expected demand from China.But back in the FTSE 250, Acacia Mining shares were down a further 9% as investors reacted to news that the company had been handed a $190bn bill for unpaid taxes and penalties from Tanzania.The company has been accused of under-reporting export revenues, which Acacia denies.Media group Informa, which rose 6.8% after it reported a 40% rise in half-year revenues thanks to strong trading at its global exhibitions business. It later trimmed that gain to close up 3%.On the currency markets, the pound edged up 0.1% against the dollar to $1.3041, and was flat against the euro at 1.1194 euros.
Source: BBC News

About Business Ideas UK

My name is Joel Bissitt. I have been an entrepreneur for 24 years and have run many small businesses across various sectors. For the last 10 years I have worked mainly within online media, franchising and small business start-ups.

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