Ibstock (IBST)

Sector:

Construction and Building Materials

Index:

FTSE 250

191.40p
   
  • Change Today:
      2.40p
  • 52 Week High: 208.50p
  • 52 Week Low: 137.50p
  • Currency: UK Pounds
  • Shares Issued: 393.92m
  • Volume: 320,595
  • Market Cap: £753.97m
  • Beta: 1.36

London close: Stocks finish lower ahead of Budget, US election

By Josh White

Date: Wednesday 23 Oct 2024

LONDON (ShareCast) - (Sharecast News) - London markets closed in negative territory on Wednesday as investor caution prevailed ahead of the upcoming Budget and amid ongoing uncertainty surrounding the US presidential election.

The FTSE 100 index dipped 0.58% to finish at 8,258.64 points, while the FTSE 250 fell by 0.57% to 20,829.93 points.

In currency markets, sterling was last down 0.35% on the dollar to trade at $1.2938, while it lost 0.17% against the euro, changing hands at €1.2003.

The absence of major economic data releases on the day left investors focused on looming macroeconomic concerns.

"The lack of enthusiasm among investors to chase this market is palpable," said IG chief market analyst Chris Beauchamp.

"At least we have Tesla earnings tonight to liven things up, and which will help inject a bit of excitement into the market.

"Even Lloyds has been unable to hold on to its gains after today's results, with the shares drifting into the red as the day has gone on."

Beauchamp added that even after Tesla's earnings are released tonight, markets could struggle to make any meaningful progress.

"Even without thinking about the US election, which is impossible to ignore, the upcoming payrolls report and Fed decision in coming weeks provide two additional hurdles to navigate.

"While volatility hasn't exactly spiked, it still feels like there is a nasty surprise lurking just around the corner."

Heathrow raises full-year passenger forecasts after bumper summer

There was a dearth of major economic data releases globally on Wednesday, but on home shores, Heathrow Airport looked to have more-than-recovered from the Covid-19 pandemic after it reported a 12.6% rise in pre-tax profit to £696m for the first nine months of the year, driven by a surge in passenger numbers during a busy summer of sport and music events.

The airport, owned by the Ferrovial-led FGP Topco consortium, handled 63.1 million passengers, marking a 6.2% year-on-year increase, with over 30 million travellers passing through during the peak summer months.

As a result, Heathrow raised its full-year forecast to 83.8 million passengers.

Despite a 3.2% dip in revenue to £2.65bn and a slight 0.7% decrease in adjusted EBITDA to £1.54bn, the airport saw a notable turnaround in adjusted pre-tax profit, reaching £350m, compared to a £19m loss in the same period last year.

WPP and Reckitt rise, Lloyds gives up its gains

On London's equity markets, shares in WPP surged 6.1% after the advertising giant reported a return to growth in the third quarter and reaffirmed its full-year outlook.

The company posted a 0.5% rise in like-for-like revenue excluding pass-through costs, while reported revenue increased by 1.4% and like-for-like revenue grew by 4.1%.

Reckitt Benckiser also performed strongly, climbing 3.99% after the consumer goods company's third-quarter net sales growth exceeded expectations.

Housebuilder Barratt Redrow saw a 2.51% rise as it reported more stable market conditions and highlighted its rapid progress in integrating the two businesses, forecasting cost synergies of at least £90 million.

In the mining sector, Hochschild Mining gained 1.29% after maintaining its full-year production guidance and reporting its strongest third-quarter performance in nearly five years.

Brick manufacturer Ibstock advanced 1.13% following an upgrade from Jefferies to 'buy,' citing strong demand in the UK brick market.

On the downside, Lloyds Banking Group dipped 0.61% to reverse its earlier gains.

Despite beating expectations with a pre-tax profit of £1.82bn for the third quarter, the bank saw a slight 2% decline in statutory profits compared to last year.

Elsewhere, Volution Group fell 3.71% after Davy downgraded the stock to 'neutral,' citing concerns that the shares had risen too quickly following a 75% increase over the past year.

Reporting by Josh White for Sharecast.com.

Market Movers

FTSE 100 (UKX) 8,258.64 -0.58%
FTSE 250 (MCX) 20,829.93 -0.57%
techMARK (TASX) 4,747.40 -0.32%

FTSE 100 - Risers

WPP (WPP) 820.80p 6.10%
Smurfit Westrock (DI) (SWR) 3,574.00p 4.59%
Reckitt Benckiser Group (RKT) 4,953.00p 3.99%
Smith (DS) (SMDS) 477.40p 3.11%
Barratt Redrow (BTRW) 485.30p 2.51%
Rentokil Initial (RTO) 378.40p 1.72%
Ashtead Group (AHT) 5,900.00p 1.51%
Pearson (PSON) 1,045.00p 1.51%
Compass Group (CPG) 2,506.00p 0.85%
SSE (SSE) 1,892.50p 0.69%

FTSE 100 - Fallers

3i Group (III) 3,300.00p -2.45%
Anglo American (AAL) 2,323.50p -2.35%
Smiths Group (SMIN) 1,577.00p -2.23%
Unilever (ULVR) 4,653.00p -2.23%
Phoenix Group Holdings (PHNX) 512.50p -1.91%
IMI (IMI) 1,750.00p -1.91%
Glencore (GLEN) 400.30p -1.86%
Rightmove (RMV) 620.60p -1.80%
Centrica (CNA) 123.30p -1.79%
Frasers Group (FRAS) 795.50p -1.79%

FTSE 250 - Risers

PRS Reit (The) (PRSR) 107.80p 3.85%
Wizz Air Holdings (WIZZ) 1,300.00p 3.59%
Aston Martin Lagonda Global Holdings (AML) 107.30p 3.07%
SSP Group (SSPG) 171.50p 2.45%
Harbour Energy (HBR) 268.40p 2.05%
Morgan Sindall Group (MGNS) 3,955.00p 1.41%
Baltic Classifieds Group (BCG) 325.50p 1.40%
Hochschild Mining (HOC) 236.00p 1.29%
Burberry Group (BRBY) 712.00p 1.25%
Patria Private Equity Trust (PPET) 533.00p 1.14%

FTSE 250 - Fallers

Ninety One (N91) 168.90p -4.52%
RHI Magnesita N.V. (DI) (RHIM) 3,225.00p -4.44%
Volution Group (FAN) 571.00p -3.71%
Currys (CURY) 85.50p -3.06%
Close Brothers Group (CBG) 368.60p -3.00%
Auction Technology Group (ATG) 440.50p -2.97%
Foresight Group Holdings Limited NPV (FSG) 472.00p -2.88%
Crest Nicholson Holdings (CRST) 182.40p -2.88%
Jupiter Fund Management (JUP) 83.60p -2.79%
Man Group (EMG) 203.80p -2.67%

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Ibstock Market Data

Currency UK Pounds
Share Price 191.40p
Change Today 2.40p
% Change 1.27 %
52 Week High 208.50p
52 Week Low 137.50p
Volume 320,595
Shares Issued 393.92m
Market Cap £753.97m
Beta 1.36

Ibstock Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
47.33% below the market average47.33% below the market average47.33% below the market average47.33% below the market average47.33% below the market average
68.42% below the sector average68.42% below the sector average68.42% below the sector average68.42% below the sector average68.42% below the sector average
Price Trend
80.56% above the market average80.56% above the market average80.56% above the market average80.56% above the market average80.56% above the market average
28.21% above the sector average28.21% above the sector average28.21% above the sector average28.21% above the sector average28.21% above the sector average
Income
29.54% below the market average29.54% below the market average29.54% below the market average29.54% below the market average29.54% below the market average
51.72% below the sector average51.72% below the sector average51.72% below the sector average51.72% below the sector average51.72% below the sector average
Growth
73.71% below the market average73.71% below the market average73.71% below the market average73.71% below the market average73.71% below the market average
72.22% below the sector average72.22% below the sector average72.22% below the sector average72.22% below the sector average72.22% below the sector average

What The Brokers Say

Strong Buy 4
Buy 0
Neutral 4
Sell 0
Strong Sell 0
Total 8
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Ibstock Dividends

  Latest Previous
  Interim Final
Ex-Div 22-Aug-24 09-May-24
Paid 13-Sep-24 31-May-24
Amount 1.50p 3.60p

Trades for 06-Dec-2024

Time Volume / Share Price
16:47 1,922 @ 191.42p
16:35 171,895 @ 191.40p
16:35 1,840 @ 191.40p
16:35 82 @ 191.40p
16:35 748 @ 191.40p

Ibstock Key Personnel

Chair Jonathan C Nicholls
CEO Joe Hudson
CFO Chris McLeish

Top of Page