Share Prices & Company Research

Market News

06 Sep 2018 | 09:06

Weaker miners weigh on FTSE

The FTSE struggled to make any gains amid weakness in the mining sector, leaving the index 1.8 points lower at 7,381 around 9am.

Glencore shed 1.4% to 307.6p and Antofagasta retreated 1.1% to 787.6p.

Energy providers Centrica and SSE rose as details of a energy price cap were published, ending months of uncertainty.

Brent crude oil fell 0.1% to $77.17 per barrel.

MID AND LARGE CAP RISERS AND FALLERS

Dixons Carphone rose 3% to 169.1p despite flat like-for-like revenue in the first quarter. While the World Cup boosted demand for consumer electronics, struggles in its mobile segment continued.

Train operator Go-Ahead accelerated 15.9% to £18.95 after operating profit beat expectations thanks to a better than expected performance in its rail business and improved trading in the bus division in London.

Melrose reported an operating loss of £256m, down from a profit of £58m as acquisition-related costs from the prolonged takeover of GKN made an impact. Investors focused on a hiked dividend and 'significant potential' for GKN as the stock rallied 3.3% to 230.1p.

Housebuilder Bovis Homes announced annual profit is anticipated to hit the upper end of expectations thanks to surging first half profit, pushing the shares 3.6% to £11.72.

There was also good news from peer McCarthy & Stone, up 2.9% at 115.2p, as a 10% jump in average selling prices to approximately £300,000 boosted sales in the year to 31 August.

SMALL CAP RISERS AND FALLERS

Social video business Brave Bison soared 71.7% to 2.5p on a distribution partnership with Chinese conglomerate Tencent, offering the company access to over 1.5bn Chinese viewers.

The market was concerned about Sirius Minerals' higher capital requirement estimates, offsetting two new major contract wins as the shares slid 15.3% to 27.6p.

Story provided by StockMarketWire.com
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