Ferries, shipping services and reviews

The FTSE 100 started the week in the red with the index taking its cue from a lower start in Asia. There was also an element of profit-taking following last week's rally.

“Irish Ferries’ owner Irish Continental Group has been buoyed by lower fuel prices and should continue to see benefits in the current financial year,” says AJ Bell Investment Director Russ Mould.

“Lower fuel prices will continue to help performance although this will be tempered by the recent weakening of sterling will affect the euro value of UK originating revenues. Investors were encouraged by the outlook and the group’s shares were up in early trading.

“Shipping services group Clarksons saw solid growth in its full year results despite challenging conditions in all its markets. The group’s business model has proven to be robust and the forward order book for this year following the successful integration of RS Platou is $151m. 

“Old Mutual was top of the blue-chip board amid reports that it is planning a multi-billion pound break-up. The company plans to give an update on its strategic review when it releases its annual results on Friday but confirmed that all options are being considered. Investors will be looking for measures that will reduce the group’s overhead costs.”

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