Oct 17, 2017

FTSE 100 flat as Merlin shares slump

Shares in Madame Tussauds owner Merlin Entertainments sank 20% after it said summer trading had been poor due to bad weather and terror attacks. The company, which also runs Legoland theme parks, said it now expected full-year like-for-like revenues to be unchanged from last year. It also forecast full-year earnings of £470m-£480m, compared with analysts' estimates of £490m. The FTSE 100 share index fell 2.27 points to 7,524.70. There was better news from publisher Pearson, which saw its shares rise 5.6% after it said full-year operating profit was set to come at the top half of its predicted range. Pearson now expects operating profit to be between £576m and £606m this year, against a previous estimate of £546m-£606m. On the currency markets, the pound rose 0.1% against the dollar to $1.3268 and was 0.35% higher against the euro at €1.1273.

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