By Steve Goldstein
Shares of Trainline slumped as much as 15% in London action, after the online seller of rail and bus tickets said its chief executive would step down.
Investors reacted negatively to the news that CEO Clare Gilmartin will step down in February after seven years at the company that went public in 2019. Jody Ford, the chief operating officer, will replace her.
Trainline /zigman2/quotes/212885666/delayed UK:TRN -1.82% has struggled during the COVID-19 pandemic, with net ticket sales in the Aug. 31-ending quarter down by 91%. Gilmartin at the end of August sold 800,000 shares at £4 per share — some 38% above Tuesday’s price.
Bellway /zigman2/quotes/208360300/delayed UK:BWY -0.49% shares fell 3%. The U.K. home builder did restore its dividend, but reported a 64% drop in pretax profit on a 31% fall in revenue for the year ending July 31. Bellway’s final dividend will be 50 pence per share, down from 100 pence per share last year, and it said it would increase payments over time as earnings recover. Bellway did report a 31% rise in reservations since the beginning of the current fiscal year.
The broader FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX -0.08% edged up 0.3%. It was a good day for the hard-hit aviation sector, with International Airlines Group /zigman2/quotes/208070069/delayed UK:IAG -1.57% jumping 5% and engine maker Rolls-Royce up 4%.
Reckitt Benckiser rose 1% as the maker of Lysol disinfectant raised its guidance for the year, now expecting low-double-digit sales growth. The consumer products giant’s stock has climbed 36% this year.