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Market Wrap - Market Open

Miners lift FTSE

07 August 2017 08:52

The FTSE 100 started the week with a gain of 0.26% to 7,539.94 after an iron ore rally boosted miners.

Paddy Power Betfair (PPB) dropped 5.3% to 7,500p after announcing WorldPay UK chief executive Peter Jackson would replace Breon Corcoran as CEO.

Defence company Ultra Electronics' (ULE) slipped 0.6% to 2,057.5p on news its organic revenue fell by 6.7% in the first half after a delay in the award of several contracts.

Lonmin (LMI) gained 1.83% to 90.63p after announcing cost-cutting measures that aim to ensure a sustainable business in a continuing adverse macroeconomic environment.

TClarke (CTO) added 0.15% to 88.13p on news it has acquired Eton Associates, a London based privately-owned control systems specialist offering a variety of building management systems.

21st Century Technology (C21), a provider of tailored solutions to the transport community, surged 20.83% to 3.63p on winning a 3-year bus systems and services contract with Abellio.

Imaginatik (IMTK) was flat at 2p after reporting its adjusted after tax losses narrowed to £0.55m in the year to the end of March - down from £0.80m last time.

But technology company Telit Communications (TCM) swung to a loss before tax of $6.7 million in the first half, from a profit of $4.7 million a year earlier. Its shares slumped 30.9% to 177.25p. Story provided by

Related Company: PPB

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