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Pharma and banks among top risers on FTSE

25 April 2017 16:58

The FTSE 100 was boosted by pharmaceutical and banking stocks, which closed 0.2% up at 7,278.

Hikma (HIK) and Shire (SHP) rose 2.3% and 1.2% respectively, while Royal Bank of Scotland (RBS) advanced 1.4%.

OVERSEAS MARKETS

Excitement over Trump's tax cut plans plus impressive results from construction equipment developer Caterpillar and forecast-beating numbers from fast food chain McDonald's pushed the Dow Jones 1% higher on Tuesday.

In Asia, Shanghai's SSE Composite recovered from a slump on Monday after regulators warned they would crack down on riskier financing in China.

Markets in Japan and Hong Kong were up 1% overnight as the relief rally from the first round of the French presidential election continued.

FTSE 100 RISERS AND FALLERS

Costa Coffee owner Whitbread (WTB) fell flat with investors as management warned of a tougher consumer environment in 2017. The market overlooked a rise in pre-tax profit and dividend as the stock tumbled 7% to £40.

Wealth manager St James's Place (STJ) reported a strong growth in its first quarter as gross inflow of funds under management at £3.23bn, up from £2.45bn, although this failed to move the share price.

One of the world's largest miners Anglo American (AAL) planned to reinstate its dividend by its year-end, according to its latest annual general meeting. Investors were unmoved as the stock declined 1.9% to £11.07.

Randgold Resources (RRS) failed to excite as the stock declined 1.7% to £68.51 despite announcing that its Morila operation continued to deliver value in its post-mining phase.

SMALL CAP RISERS AND FALLERS

Mobiles device diagnostics firm Blancco Technology (BLTG) concerned shareholders after it said it needed at least £4m over the next few weeks to address its working capital position. Shares in the business plummeted 18% to 177.2p.

Collagen Solutions (COS) reported £3.9m in trading revenue, driven by higher volumes from more customers and further development agreements, sparking a share price rally of 20% to 6p.

Flooring specialist Carpetright (CPR) cautioned that full year profits were likely to be towards the lower end of current forecasts, which disappointed investors who marked the shares 7.2% lower to 227.2p.

Communications solutions provider Sepura (SEPU) gained 23.3% to 13.8p as its recommended £74m acquisition by Hytera achieved Spanish competition approval.

RedstoneConnect (REDS) also swung to a full year after tax profit of £2.1m, from a loss of £2.2m causing the tech service supplier to increase 6% to 1.6p.

Botswana Diamonds (BOD), up 13% to 1.7p, said joint venture company Sunland Minerals was awarded six new prospecting licenses in Botswana. The three-year licences would end on 30 March 2020.

Specialty chemicals company Elementis (ELM) reported stronger demand across most of its markets, helping to boost trading in its first quarter.

Payment services business Equiniti's (EQN) was up 3.7% to 215.8p after the firm reported it expected to deliver results in line with market expectations.

Story provided by StockMarketWire.com

Related Company: WTB

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