Friday, 25 August 2017

Provident leads FTSE 100 higher again

Shares in troubled doorstep lender Provident Financial have risen for the third day in a row, following their 66% plunge on Tuesday.

In Friday morning trading, the stock was up 20%, bolstered by news of a management shake-up at the firm.

Tuesday's slump was prompted by the company's second profit warning in three months.

Overall, the benchmark FTSE 100 index was up 27.6 points or 0.37% at 7,434.66 points.

Provident rose 13% on Thursday and 12% on Wednesday.
Friday's trading was not so rosy for advertising giant WPP, another firm that has seen big losses this week.

Its shares fell 11% on Wednesday after it reported slowing sales, then rose 2.9% on Thursday. But on Friday it was back in the losers' table, shedding 1.4%.

On the currency markets, the pound was up 0.28% against the dollar at $1.2837 and up 0.15% against the euro at 1.0862 euros.

BBC       News.