The FTSE 100 index closed Monday down 0.4% at 7594 points, in line with European peers and mainly dragged by financial stocks and retailers in a volume-light day as U.S. markets were closed for Martin Luther King Day. "It seems that profit-taking continues to prevail among investors. Earnings season didn't get off to a great start on Friday, so there has been little incentive for traders to chase the market even in its current subdued state," IG chief market analyst Chris Beauchamp says in a note. Luxury goods retailer Burberry was the index worst performer, with shares further dropping 5.7% following Friday's guidance cut, when they slipped 5.5%, followed by online grocer Ocado, down 5.1% ahead of its trading update on Tuesday morning.


COMPANIES NEWS:

Ashmore Group's Assets Under Management Rose Despite Persisting Outflows

Ashmore Group said that its assets under management rose over the second quarter of fiscal 2024 as positive investment performance offset its outflows.

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Mortgage Advice Bureau CFO Lucy Tilley to Step Down

Mortgage Advice Bureau (Holdings) said that its Chief Financial Officer Lucy Tilley is stepping down.

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Crest Nicholson Cuts Guidance Again on Rising Costs

Crest Nicholson trimmed its profit guidance for fiscal 2023 after recognizing further costs relating to a housing project, as well as a one-off legal claim charge.

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PageGroup Gross Profit Fell on Tough Market Conditions

PageGroup said group gross profit fell in the fourth quarter as tough market conditions continued, and that it expects full-year operating profit to be below guidance.

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Bakkavor Shareholder BP-PE5 Sells 20% Stake to LongRange

Bakkavor Group said Monday that BP-PE5 LLC, an affiliate of the Baupost, has sold its 20.1% shareholding in the company to LongRange Capital Fund I and that as a consequence their relationship agreement has ended.

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IQGeo Group Shares Rise After Full-Year Earnings Exceed Expectations

IQGeo Group shares rose after the company said it expects full-year earnings ahead of current market expectations, reflecting sustained and strong growth and momentum across all key metrics.


Contact: London NewsPlus, Dow Jones Newswires;


(END) Dow Jones Newswires

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