UK market update – Amigo returns to profit, Travel stocks in focus on list update

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imageStock Markets2 hours ago (Aug 27, 2021 08:36)

© Reuters.

By Samuel Indyk

Investing.com – At 08:33BST, the FTSE 100 is trading higher by 0.2% at 7,134. The midcap FTSE 250 is trading higher by 0.2% at 23,987.

In FX markets, GBP/USD is trading at 1.3720, EUR/GBP is trading at 0.8573. The US Dollar Index is down 0.1%.

Today’s calendar highlights include Fed Chair Jerome Powell’s speech at the Jackson Hole Symposium, US PCE inflation, Personal Spending and Personal Income data.

Stocks

Amigo Holdings (LON:AMGO) – Net loan book reduction of 47.8% in Q1. Revenue reduction of 33.4% to £32.5 million. Complaints provision remains broadly unchanged from year-end at £338 million. Generated profit before tax of £15 million in the period. A material uncertainty over the Group’s ability to continue as a going concern remains.

Primary Health Properties (LON:PHP) – Acquired Townside Primary Care Centre and adjacent office building for £40 million.

BBGI Global Infrastructure (LON:BBGIB) – Portfolio generated predictable cash flows fully in line with expectations. Reconfirms dividend target of 7.33 pence per share.

Babcock (LON:BAB) – Upgraded to ‘overweight’ from ‘equal weight’ at Barclays (LON:BARC).

Wood Group (LON:WG) – Upgraded to ‘overweight’ from ‘equal weight’ at Morgan Stanley (NYSE:MS).

Sectors

Travel & Leisure – The UK updated its travel list for returning from various countries. Popular tourist destinations such as Spain, Italy and Greece remained on the Amber list. The Azores, Canada, Denmark, Finland, Switzerland, Liechtenstein, and Lithuania move to the Green list. Thailand moved to the Red list.

UK market update – Amigo returns to profit, Travel stocks in focus on list update

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