The FTSE continues to plunge despite the publication last night of minutes from the latest Federal Reserve meeting that were interpreted as dovish. Perhaps traders are more focused on the slew of oil company reports out today (and over the past two days). The Trader reports.
IC TIP UPDATES:
Plastic piping manufacturer Polypipe (PLP) posted interim results showing underlying top-line growth of 5.1 per cent and strong margin improvement. The house building boom has benefited the company in particular, but management also noted "good demand" from road and rail projects and an improvement in the home refurbishment market. We maintain our buy call.