Share Prices & Company Research

Market News

05 Sep 2018 | 16:40

Fresh promise of Brexit breakthrough hits FTSE

The FTSE 100 closed below 7,400 for the first time since April as sterling strengthened in response to news of apparent progress in Brexit discussion and amid wider weakness in global stock markets.

As tensions over trade persist, the S&P 500 was down 0.5% to 2,883.36 by 4pm UK time, with Germany's DAX index down 1.1% at 12,072.16.

LARGE AND MID CAP RISERS AND FALLERS

Barratt Developments gained 1.3% to 543.2p after the company, which had already announced key results in July, provided a positive assessment of current trading and its medium-term prospects.

High-end rival Berkeley Group added 1.1% to £35.47 after it reaffirmed its full-year guidance, despite concerns Brexit could hurt the London property market.

Gambling group William Hill gained 5.2% to 261.5p on news it had entered into a partnership with its existing partner in Nevada, Eldorado Resorts, to provide sports betting across the budding US market.

Defence and aerospace contractor Chemring gained 5.4% to 216p on news it had been selected as a supplier of new chemical detectors to the US military.

SMALL CAP RISERS AND FALLERS

Ecuador-focused explorer SolGold jumped 15.5% to 24.65p after mining giant BHP Billiton acquired a 6.1% stake in the company for $35.2m..

Women's fashion retailer Quiz dropped 3.3% to 162p as it outlined its exposure to failed retailer House of Fraser, but nevertheless said it was confident of meeting market expectations for the full year.

Inkjet printing technology group Xaar gained 3.9% to 191.2p, despite it swinging to a first-half loss and cutting its dividend, as investors focused on the potential of its new, higher-margin products.

Software company Kainos Group rallied 12.3% to 410p after it announced its full-year results would be ahead of current market expectations following a 'strong' start to the year.

Advanced materials group Velocity Composites, which this week downgraded its earnings guidance, rose 3.3% to 41.3p after it said it had moved chief executive Jonathan Bridges to the newly-created role of chief technology officer.

The group's chief financial officer had also stood down. A search for a replacement CEO and CFO was underway.

Story provided by StockMarketWire.com
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