skip to content

Market Wrap - Midday

Positive broker notes support gains at TUI and SSE

14 August 2017 16:53

Thompson owner TUI (TUI) was the biggest blue-chip riser thanks to Credit Suisse's upgrade of the stock from 'underperform' to 'neutral'.

TUI was up 4.7% to £12.89 on the positive note.

Credit Suisse was also kind to utility giant SSE (SSE) which it upgraded from 'neutral' to 'outperform', triggering a 1.3% jump in the share price to £14.09.

Financial firms remained on the front foot as Standard Chartered (STAN) gained 2.5% to 772.5p and Hargreaves Lansdown (HL.) ticked 1.2% higher to £13.57.

The FTSE 100 closed 0.6% higher at 7,353.

Brent crude oil slid 0.9% to $51.62 per barrel. Gold fell 0.5% to $1,2281 per ounce and copper cheapened 0.3% to $6,415 per tonne.

OVERSEAS MARKETS

Investor sentiment bounced back in the US as concerns over a potential conflict between America and North Korea cooled.

The Nasdaq benefited most from the boost in sentiment, opening 1.2% higher at 6,330 on Monday.

FTSE 250 RISERS AND FALLERS

Clarkson (CKN) defied difficult shopping and offshore markets as it delivered a 12% jump in pre-tax profit to £23.5m in the first half of the year, helping the stock advance 2% to £26.95.

SMALL CAP RISERS AND FALLERS

In the logistics sector, John Menzies (MNZS) terminated merger talks with DX Group (DX.), prompting the shares to tick 1.9% to 711.4p, while DX rose 3.3% to 9.8p.

Chief executive Oozi Cats at Telit Communications (TCM) decided to step down from the board after it emerged he may have previously been indicted in the US for fraud under a different name. Shares in the firm dipped 3.9% to 128p.

LightwaveRP (LWRF) surged 19.2% to 28.6p following its announcement that its next generation Apple Home Kit product range was set for launch in Apple stores in the UK and the United Arab Emirates.

Shares in Mirada's (MIRA) shed 16.7% despite reporting an increase in licence volumes from Televisa, the owner of izzi Telecom, in the last two months thanks to it securing more subscribers.

Elsewhere, software systems designer Arcontech (ARC) warned that the sales cycle is unpredictable and remained longer than it 'would like.' Investors overlooked higher pre-tax profit and strong cash generation as the stock fell 9% to 61p.

Shares in Tern (TERN) suffered a 14.4% tumble to 6.8p after doubling the size of its fundraising from £300,000 to £600,000, priced at a discounted 6.6p.

Story provided by StockMarketWire.com

Related Company: TUI

Info Point:

To buy or sell shares call our Dealing Room on 0113 243 6941.

Too much jargon? Our glossary will help make sense of things.

Find out more about our Share Dealing Services.

Client Area Access

» Secure Login

» Not registered yet?

Bluezest Aviva Aberdeen

Branch Finder

Redmayne-Bentley have High Street branches throughout the UK. Find your nearest branch.