MARKET REPORT: Fewer strikes boost ticket sales on Trainline

Trainline shares rose as fewer strike days and more customers switching to digital tickets boosted business.

The FTSE 250 company rose 9.2 percent, or 27.6 pence, to 327.8 pence after saying its ticket sales, revenue and profit should be stronger than expected for the year to the end of February 2025.

The online ticketing app’s revenue rose 17 per cent to £229m in the six months to the end of August.

Ticket sales rose 14 per cent to £3 billion, including a 15 per cent rise to £2 billion in the UK. There was also a strong performance in its international rail business, led by Spain and Italy.

Katie Cousins, analyst at Shore Capital, said: “We believe Trainline has an unrivalled presence in the UK, with growth expected to be supported by increasing digitalisation.”

The FTSE 100 rose 0.6 per cent, or 47.03 points, to 8,240.97 and the FTSE 250 rose 0.8 per cent, or 158.52 points, to 20,695.77.

Markets in Europe rallied after the European Central Bank cut interest rates for the second time this year.

Germany’s main benchmark index gained 1 percent, while France’s CAC 40 added 0.5 percent.

In London, Diageo rallied after Bank of America analysts said the Ciroc owner is “overcoming the crisis” and that “the worst is over” as growth should improve this year for the international spirits market.

The broker raised its rating on the stock to buy from neutral and increased its target price by 200p to 2,800p. The shares rose 3 per cent, or 72p, to 2,506p.

GSK said a seasonal flu vaccine it is developing will move to the next stage of clinical trials after positive results were obtained in younger and older adults who participated.

The announcement came a day after the pharmaceutical giant said its herpes drug had failed to impress. It also settled a separate case involving whether its heartburn drug Zantac increased the risk of developing cancer.

Shares fell 1 percent, or 16 pence, to 1,638.5 pence.

Pest control company Rentokil remained under pressure a day after warning that a slowdown in North America will hit annual profits.

The shares, which fell 20 percent yesterday, were down another 2.1 percent, or 8.1 pence, at 372 pence.

Spire Healthcare is cashing in on working-age patients opting for private health insurance, but the shares fell 0.2 percent, or 0.5 pence, to 249.5 pence. Gulf Marine Services, which

The company, which provides support vessels to service oil and gas platforms and offshore wind farms, has raised its profit forecast after winning a five-year contract, lifting it 11 percent, or 1.7 pence, to 17.2 pence.

Investment fund Brooks Macdonald, down 2.1 per cent, or 40p, at 1,855p, is to sell its international business to wealth manager Canaccord in a deal worth up to 50.85 million pounds.

Profits fell 47.7 per cent to £11.6m in the year to the end of June due to a one-off charge, while customers withdrew more money than they deposited.

Marlowe, a business consultant backed by Lord Ashcroft, wants to spin off its occupational health division and list it on AIM this month.

Shares gained 5.8 percent, or 25p, to 455p. And Heiq slumped 44 percent, or 3.98p, to 5.07p after the textile technology company warned it needed to raise more money to stay afloat.