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Sept. 30, 2021, 10:59 a.m. EDT

Boohoo stock tumbles as it warns of supply shortage, while Oxford Nanopore soars in first day of trading

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By Barbara Kollmeyer

Big winners, and big losers marked the last day of trading for September and the quarter in London.

DNA/RNA sequencing technology company Oxford Nanopore Technologies saw a strong reception in its first day of trading, but Boohoo shares fell sharply as the retailer proved a reminder of global supply shortages ahead of the holidays.

The FTSE 100 index /zigman2/quotes/210598409/delayed UK:UKX +1.02% fell 0.4% to 7,082, and was headed for a 0.5% monthly loss, the worst since January 2021, and a 0.6% quarterly rise, the weakest since the September 2020 quarter.

The pound climbed 0.4% to $1.347. Data showed second-quarter U.K. gross domestic product was revised up to 5.5% from a prior estimate of 4.8%.

The best sector across the London Stock Exchange was healthcare and the worst was oil and gas, with shares of BP /zigman2/quotes/207305210/composite BP +4.74% /zigman2/quotes/202286639/delayed UK:BP +4.27% and Royal Dutch Shell /zigman2/quotes/205095589/composite RDS.A +3.63% /zigman2/quotes/206428183/delayed UK:RDSA +3.64% fell over 1% each as oil prices /zigman2/quotes/209723049/delayed CL00 -0.43% declined.

The country continues to grapple with petrol and power shortages, with natural gas futures up another 7% to 242.28 pence a therm on Thursday, with similar price rises on continental Europe. Soaring wholesale natural gas prices drove three more smaller U.K. energy providers out of business on Thursday, leaving over 200,000 customers to find a new provider.

On an upbeat note, shares of Oxford Nanopore Technologies surged 43% on their first day of trading. “The company, which is a DNA sequencing company raised £350m at an offer price of 425p, while some of its existing shareholders sold some of their own holdings,” said Michael Hewson, chief market analyst at CMC Markets UK.

“The company also supplies rapid Covid-19 tests to the NHS and has partnered with Oracle to explore new solutions that would use genomic sequencing which would run on its cloud infrastructure on a global scale,” he added.

Shares of drinks giant Diageo   /zigman2/quotes/208129584/composite DEO -0.91% /zigman2/quotes/205611832/delayed UK:DGE +0.03% rose 2% after an upbeat trading, though said cost pressures were higher, but manageable.

Retailers were in the spotlight, as shares of fast-fashion group Boohoo /zigman2/quotes/205655689/delayed UK:BOO +1.49% tumbled 13% after the company reported soaring revenues, but warned profit margins will fall short of expectations because of supply chain issues, a familiar theme for global markets.

“The negative reaction to today’s update has fed into a broader negative narrative for the entire sector with Next /zigman2/quotes/200704121/delayed UK:NXT +2.31% shares giving up some of yesterday’s gains. ASOS  /zigman2/quotes/209092221/delayed UK:ASC +6.01% shares have also come under pressure over similar costs concerns as we look ahead to their full year numbers, which are due in a couple of weeks,” added Hewson.

/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,371.46
+74.31 +1.02%
Volume: 788,364
Jan. 25, 2022 4:51p
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/zigman2/quotes/207305210/composite
US : U.S.: NYSE
$ 31.40
+1.42 +4.74%
Volume: 17.65M
Jan. 25, 2022 4:00p
P/E Ratio
16.24
Dividend Yield
4.03%
Market Cap
$96.11 billion
Rev. per Employee
$2.39M
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/zigman2/quotes/202286639/delayed
UK : U.K.: London
379.65 p
+15.55 +4.27%
Volume: 49.12M
Jan. 25, 2022 4:35p
P/E Ratio
16.20
Dividend Yield
3.04%
Market Cap
£71.38 billion
Rev. per Employee
£1.75M
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/zigman2/quotes/205095589/composite
US : U.S.: NYSE
$ 49.74
+1.74 +3.63%
Volume: 5.85M
Jan. 25, 2022 4:00p
P/E Ratio
42.37
Dividend Yield
2.55%
Market Cap
$179.70 billion
Rev. per Employee
$2.58M
loading...
/zigman2/quotes/206428183/delayed
UK : U.K.: London
£ 1,810.80
+63.60 +3.64%
Volume: 8.95M
Jan. 25, 2022 4:35p
P/E Ratio
44.76
Dividend Yield
0.04%
Market Cap
£133.47 billion
Rev. per Employee
£1.88M
loading...
/zigman2/quotes/209723049/delayed
US : U.S.: Nymex
$ 85.23
-0.37 -0.43%
Volume: 17,654
Jan. 25, 2022 11:17p
loading...
/zigman2/quotes/208129584/composite
US : U.S.: NYSE
$ 200.88
-1.85 -0.91%
Volume: 459,192
Jan. 25, 2022 4:00p
P/E Ratio
33.05
Dividend Yield
1.96%
Market Cap
$114.74 billion
Rev. per Employee
$616,562
loading...
/zigman2/quotes/205611832/delayed
UK : U.K.: London
3,673.00 p
+1.00 +0.03%
Volume: 3.17M
Jan. 25, 2022 4:35p
P/E Ratio
32.38
Dividend Yield
1.98%
Market Cap
£85.22 billion
Rev. per Employee
£458,302
loading...
/zigman2/quotes/205655689/delayed
UK : U.K.: London
102.50 p
+1.50 +1.49%
Volume: 10.57M
Jan. 25, 2022 4:35p
P/E Ratio
22.14
Dividend Yield
N/A
Market Cap
£1.23 billion
Rev. per Employee
£526,015
loading...
/zigman2/quotes/200704121/delayed
UK : U.K.: London
7,430.00 p
+168.00 +2.31%
Volume: 251,097
Jan. 25, 2022 4:35p
P/E Ratio
16.34
Dividend Yield
0.00%
Market Cap
£9.29 billion
Rev. per Employee
£171,190
loading...
/zigman2/quotes/209092221/delayed
UK : U.K.: London
2,241.00 p
+127.00 +6.01%
Volume: 750,767
Jan. 25, 2022 4:35p
P/E Ratio
17.86
Dividend Yield
N/A
Market Cap
£2.11 billion
Rev. per Employee
N/A
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