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Market Wrap - Market Open

FTSE starts the week on a positive note

14 August 2017 08:49

The FTSE 100 started the week up 0.3% to 7,332,16 after stocks in the US and Asia recovered some of their falls following military tensions between the US and North Korea.

Standard Life (SLA) announced it had completed its merger with Aberdeen Asset Management, sending the shares 2.5% higher to 421.1p.

Clarkson (CKN) increased underlying pre-tax profit by 12% to £23.5m in the first half despite difficult shipping and offshore markets. The share price was flat at 2,644p.

John Menzies (MNZS) added 0.39% to 705.75p on news it had terminated merger talks with DX Group (DX.). DX was flat at 9.81p.

Caledonia Mining Corporation's (CMCL) first half net profits fell to $3,032m - down from $4,150m last time. Second quarter net profits fell to $694,000 from $3.6m with results adversely affected by share-based payments and a higher effective tax rate. The shares were flat at 510p.

Filtronic (FTC) announced a second multi-year supply agreement with a major European defence equipment manufacturer for the supply of specialist high frequency transmit and receive modules for a defence related aerospace application.

The three-year agreement is expected to generate revenues totalling approximately £4.8 million. The news sent the shares 3% higher to 12.75p.

Mirada (MIRA) plummeted 28.57% to 1.25p despite reporting an increase in licence volumes from Televisa, the owner of izzi Telecom, in the last two months due to a greater number of subscribers. It said Mexico's current was strengthening and economic confidence was returning to the country.

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