Auto Trader Overtake Expectations

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Thursday, 6th June: Entertainment One has successfully reversed all the negative impact which was caused yesterday following the speculation surrounding president and chief executive officer Mark Gordon and his apparent departure from the company. The rumours had a shocking impact on the share price which was down more than 16.0% yesterday. However, the popular Peppa Pig owner cleared up all the speculation in an announcement today confirming that Gordon will not be leaving, which made the share price rise more than 15.0%, and top the FTSE 250.

Auto Trader have had a bumpy ride on the blue-chip index today following their full year results which initially allowed the share price to rise after the group announced they had topped expectations. Revenue and underlying pre-tax EBITDA were 1% above consensus, which may not be a great amount but is still impressive in a stalling car market. After opening significantly higher, at the end of the day they were trading almost flat.

The European Central Bank said today that they plan to leave interest rates in negative territory for longer, which consequently boosted European indices. Germany’s DAX was up 0.3% and the Stoxx Europe 600 was also up 0.3%. Meanwhile, the FTSE 100 managed to close 0.55% higher at 7259.85, and more than 1.0% higher than the closing value on Monday.

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