Nicholas Hyett, Equity Analyst, Hargreaves Lansdown:
"Paddy Power Betfair is up 4.4%, after announcing a 68% increase in operating profits. The gamble on combining exchange betting and sportsbook seems to be paying off, with online revenue up 15%. We suspect the combination of PaddyPower’s marketing genius and Betfair’s technical wizardry means there may be more to come.
DFS is down 10% today, after US private equity firm Advent halved its remaining stake in the business. Having floated the business last year, it’s not surprising to see the group’s former owner winding down its position. However, the decision to do so now might suggest it has concerns about the future health of the UK economy.
Generic drugs manufacturer Hikma Pharmeceuticals is the biggest faller in the FTSE 100 today, down 5.5%. With US investigations into alleged price collusion among generic manufacturers gathering momentum, concerns about the possibility of Hikma being impacted are growing."
NOTES TO EDITORS
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