Shares in the FTSE 100 and FTSE250 are up marginally after a tough few days but smaller companies on Aim remain out of favour. Click here for The Trader Nicole Elliott's latest thoughts on the markets.
IC TIP UPDATES:
AO World (AO.) fell 5 per cent on the release of its results for the year to March 2019. Revenues increased 13.3 per cent to £902.5m, in spite of low consumer confidence. However, the group fell into a net position and continued to make losses at the operating level, albeit slightly reduced ones at £15.2m. The group’s European business continued to struggle against driver challenges in German and “a lack of real improvement” in product margins and customer acquisition costs. The acquisition of Mobile Phones Direct holds some promise, but we remain sellers.