…and some to sell

Card Factory Daily Mail

Despite a confident raft of shop openings, sales growth at the card and gift retailer came in at 0.2% in the first half – and most of that originated online. The variable footfall in the group’s 848 stores hints at an uncertain outlook. Sell. 298.5p.

esure The Times

A 30% cut in the car insurer’s interim dividend has dismayed investors. Shore Capital called the policy “bewildering”, noting the weakness of esure’s Gocompare site versus its rival Moneysupermarket. Sell. 271.1p.

Hargreaves Services The Times

Net debt has bloomed at Hargreaves, as the winding down of large coal-fired power stations, the dwindling cost of coal, and broad restructuring begin to tell. The dividend has been slashed from 30p last year to 2.3p. Sell. 189p.

Ocado Investors Chronicle

The online grocer has finally renegotiated its deal with Morrisons – on terms that favour the supermarket. At least Morrisons didn’t walk, but Ocado still has an unfulfilled promise to sign an overseas partner. Sell. 300p.

Pagegroup Daily Mail

Revenue at the recruitment group was up in the first half, but concerns about the recruitment sector post-brexit are rife. Despite delivering an interim dividend, shares are vulnerable to industry jitters. Sell. 349.1p.

Spirax-sarco Investors Chronicle

The steam engineer’s half-year results suffered from relatively weak performance and lower organic growth owing to a slowdown in all industrial markets. The company is rated highly, but the shares are too high. Sell. 42.75.