June 27--Investors waved the red card at Leeds-based leisure group Dart as it became the first company to hold the World Cup in Brazil partially to blame for a shock profits warning.
Shares of the owner of Jet2 airline nosedived to 177.75p before closing 61.25p, or 24pc down, at 190p after chairman Philip Meeson said: 'In view of the current visibility we have of remaining summer 2014 forward bookings, we now expect the current year operating profits to be lower than previous market expectations.'
Demand for leisure travel this summer has apparently been less buoyant than Dart had hoped and market pricing weak. Meeson said perhaps it was also due to the weather or because the financial recovery had not yet taken hold in its homeground of the North of England.
Jet2holidays, the group's package holiday business, last year to end-March almost doubled the number of customers enjoying its value breaks to 830,019. Annual pre-tax profits rose 4pc to pounds sterling 42.1m and the dividend is lifted 47pc to 2.74p per share.
Broker Canaccord Genuity slashed its target price to 288p from 338p on the news.
The Footsie traded within narrow limits before closing 1.5 points up at 6,735.12, ignoring an opening 89-point fall on Wall Street. The Street of Dreams succumbed to early selling after St Louis Federal President James Bullard said US interest rates would rise sooner rather than later.
Housebuilders and associated sectors were in demand after the Bank of England's measures to tighten mortgage lending proved less draconian than had been feared. Governor Mark Carney announced that from October, the Bank of England would allow only 15pc of new mortgages to be at multiples higher than 4.5 times a borrowers' income.
Persimmon jumped 60p to 1259p,
Estate agencies Foxtons put on 17.3p to 283p and Countrywide 26p to 527p. The latter was additionally buoyed by news it is to pay a special dividend of pounds sterling 20m, or 9p a share, with an interim dividend on September 15, 2014. It follows the sale of a 2.2pc stake in newly-floated Zoopla, 1.25p better at 227p.
The AA closed the first day of unconditional trading 2.11pc better at 242p, still 3pc below the issue price of 250p.
After rejecting a bid approach from IIuka Resources, titanium producer
Seemingly in complete disarray after the ousting of charismatic founder Todd Kozel as chief executive and the departure of non-executive director Jeremy Asher, Kurdistan-focused oil firm Gulf Keystone gushed 14.75p to 95p on revived bid hopes. Rumours were rife that
Broker Cenkos said it was positive news for the future potential of the field, significantly de-risking the basement play across the company's acreage and marked a big step towards the commercial development of the field.
Heavy demand on the back of a positive trading update lifted
Broker WH Ireland says the number of users has now passed the 20,000 mark. It has also been accepted as a licensed Apple MFi (Made for iPhone/iPod/iPad) developer.
Online gaming group
US activist 9pc shareholder SpringOwl has apparently been exerting pressure on the board, led by chairman Philip Yea.