Plus-size fashion, pints and pests

The FTSE 100 surrendered some of yesterday's solid gains in early trading ahead of today's UK jobs figures from the Office for National Statistics and following mixed trading performances on Wall Street overnight and in Asia this morning.

“Plus-size fashion retailer N Brown is feeling the pinch from foreign exchange headwinds and will take a hit of around £3m in the next financial year,” says AJ Bell Investment Director Russ Mould.

“The group’s shares slumped with investors disappointed that trading has been subdued since the start of its new financial year following a robust second half when underlying pre-tax profits rose by 11%. 

“Punch Taverns’ shares rose as the streamlined group claimed it was now in a stronger financial position. Interim pre-tax profits fell to £54.7m from £348.5m a year ago although the comparative period was bolstered by a £288m gain from disposals and its underlying sales and profits are ahead of forecasts.

“Pest control group Rentokil Initial was another early riser after first quarter revenues surged. The majority of its regions made a strong start to the year with the North America pest control arm the stand out performer.”

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