FTSE 100 Index Lower: SSP Group Surges, WOSG Sees Strong US Demand

The FTSE 100 edged about 0.2% lower on Thursday, even as broader European markets advanced. 

The pan-European Stoxx 600 rose 0.2%, the DAX gained 0.6% and the CAC 40 added 0.2%.

Watches of Switzerland was slightly higher, up around 0.8%, after the luxury retailer posted a strong first half driven by firm U.S. demand and steady trading in the U.K. despite tougher market conditions. 

Group revenue increased 10% at constant currency to £845 million for the 26 weeks to 26 October, with the U.S. continuing to underpin growth.

In contrast, Frasers, the owner of Sports Direct, is down 1.2% after it pointed to “tough” market conditions, reporting a 2.8% decline in profits to £290.9 million for the six months to 26 October.

SSP Group was among the day’s standout performers, jumping more than 15% after raising expectations for its new financial year. 

The operator of food and beverage outlets across airports and travel hubs in 38 countries posted an 8.3% rise in operating profit to £223 million for the year to 30 September. Earnings per share climbed 19% to 11.9p, with guidance for the current year now seen towards the upper end of the 12.9p–13.9p range set out in October.

Among FTSE 100 constituents, the biggest risers included Ashtead Group, up 2.4%, Spirax Group at 2.3%, and Halma at 1.5%. The main fallers were Endeavour Mining and Fresnillo, both down 2.4% and Airtel Africa, off 2.1%.