Groceries, papers and engineers

The FTSE 100 opened its account for the week in reverse as the fluctuating oil price and global economic growth concerns continue to set the tone in the City.

“Morrisons’ shares jumped in early trading after it is set to take a bigger bite out of the online groceries market following a deal with Amazon,” says AJ Bell Investment Director Russ Mould.

“Morrisons has been a slow starter in the online arena and currently has a very modest foothold in the market. The tie-up with Amazon to supply products to its Amazon Prime Now and Amazon Pantry customers will be a shot across the bows for current market leader, Tesco.

“The launch of Trinity Mirror’s new daily national paper New Day comes as the group’s full year results underline the problems facing its current print titles. Profits slumped from £81.6m to £67.2m and revenues fell by 7% to £592.7m – a figure which would have been much worse without a nearly 22% jump in digital revenues. 

“Keller’s shares were up in early trading after the group increased its dividend following a rise in profits despite a 2% drop in revenues. The ground engineering specialist saw increases in all divisions in 2015 and its order book is 15% up on last time giving investors confidence that it is on track to meet its forecasts for the current financial year.”

These articles are for information purposes only and are not a personal recommendation or advice.