Shares Today: TP ICAP surges, FTSE 100 steams ahead

The FTSE 100 closed 1% higher at 7,747.81. Entain was the top performer, jumping 3.8% after interim CEO Stella David bought £1.4 million in shares. This follows the sudden departure of Jette Nygaard-Andersen due to a bribery case.

Persimmon ended the day as the worst blue-chip performer, plummeting 3.4%. The housebuilder reported a significant decline in 2023 pretax profit to £351.8 million, down from £730.7 million in 2022, blaming lower sales volumes and rising construction costs. The company expects subdued market conditions throughout 2024.

The FTSE 250 closed marginally higher, gaining 0.2% to 19,565.21. TP ICAP was a standout performer on the mid-cap index, surging 10%. The interdealer broker reported an annual revenue increase and announced plans for a new share buyback program and a potential minority float of its Parameta Solutions arm.

Domino’s Pizza Group’s shares closed 5% lower after revealing that first-quarter underlying sales are likely to be lower than last year. This coincided with their full-year results, which were in line with expectations, and the £62 million acquisition of the Irish chain Shorecal.

Among smaller companies listed on the AIM market, Synthomer witnessed a significant rise of 18%. The chemicals manufacturer reported a decline in revenue and pretax losses, but expressed cautious optimism for 2024 due to short-term customer restocking.

Conversely, Regional REIT suffered a 30% plunge in its share price. The commercial property investor is considering refinancing options for a maturing bond, including issuing new debt or equity at a discount.

Regional REIT slumped 36% as they confirmed exploring refinancing options for a maturing bond. The commercial property investor warned that any equity issuance would likely be at a discount to their current share price.

The AIM All-Share closed down 0.23 of a point at 738.04.

Last updated 17:00 GMT.

Daily Risers and Fallers

FTSE All-Share risers: Synthomer 35.79%, TP ICAP 10.07%, Ferrexpo 7%, Quilter 6.48%, Gore Street En. 6.18%, Future 5.32%, Petra Diamonds 4.87%, Darktrace 4.38%, Jp Morg.chin 4.08%, Invesco Sel. Uk 3.95%.

FTSE All-Share fallers: Regional Reit -30.02%, Superdry -12.78%, Phoenix Spree D -8.12%, Vanquis Banking -7.57%, Pz Cussons -6.32%, International Distributions Services -5.69%, Schroder Eur.r -5.26%, Luceco -5.11%, Pantheon Infr -4.62%, Saga -4.03%.

The London Open

Last updated 08:00 GMT.

London stocks kicked off Tuesday higher, with the FTSE 100 gaining 0.8% as investors await crucial US inflation data later today. The FTSE 250 edged up modestly, while the AIM All-Share dipped slightly.

TP ICAP was the star performer on the FTSE 250, surging 10% after announcing a share buyback program and hinting at a possible IPO for its Parameta Solutions unit. The interdealer broker also reported a rise in annual revenue.

The pet care sector came under pressure after the UK Competition & Markets Authority (CMA) identified concerns about industry consolidation. The watchdog is considering a formal investigation. This news sent shares in Pets at Home and CVS Group tumbling.

Regional REIT slumped 36% as they confirmed exploring refinancing options for a maturing bond. The commercial property investor warned that any equity issuance would likely be at a discount to their current share price.