Holidays, miners and carpets

Friday 18 December 2015

The FTSE 100 edged lower in early trading after US markets fell by more than 1% on weaker-than-expected manufacturing data, the widening current-account deficit and energy prices.

“All Leisure Group’s (LSE:ALLG) full year figures will be better than previously expected due to better late bookings in the final quarter,” says AJ Bell Investment Director Russ Mould.

“Generally, though, trading conditions have been challenging for both its tours and cruise divisions throughout the year and the final quarter flurry has failed to allay investors’ concerns with All Leisure’s shares falling sharply in early trading.

“Ongoing concerns over commodity prices and some broker downgrades failed to dent heavyweight miners with Anglo American (LSE:AAL), BHP Billiton (LSE:BLT), Glencore (LSE:GLEN), Rio Tinto (LSE:RIO) and Antofagasta (LSE:ANTO) virtually monopolising the top of the blue-chip index. Their stranglehold on the top spots only being interrupted by supermarket giant Tesco (LSE:TSCO).

“United Carpets’ (LSE:UCG) shares were up after first half like-for-like sales rose by 5%. The group is benefiting from improving consumer confidence and the buoyant housing sector and is confident about its long term prospects.”

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