Share Prices & Company Research

Market News

03 Oct 2018 | 16:48

Global equities rise on Italian budget concessions

There was a sea of green across the global markets after the Italian government backed down in a row with Brussels over its budget.

The FTSE 100 closed 0.5% higher at 7,510.

Wall Street also benefited from stronger investor sentiment with the Dow Jones jumping 0.4% to 26,887 around 4:45pm UK time.

Brent crude oil was up 0.2% at $85 per barrel. Copper retreated 0.2% to $2.79 per ounce and gold fell 0.4% to $1,197 per ounce.

Growth in the UK service sector dipped from 54.3 in August to 53.9 in September according to Markit's Purchasing Managers' Index. A figure over 50 implies growth and one under 50 suggests contraction.

Fancy car maker Aston Martin finally made its much anticipated debut on the London stock market. Its shares fell from the offer price of £19 to £18.10.

MID AND LARGE CAP RISERS AND FALLERS

ITV sparked 3.8% to 162.3p after confirming it will not be bidding for media group and Big Brother producer Endemol.

A poor performance in mainland Europe and Asia dragged on supermarket giant Tesco's underlying operating profits, which rose 24.4% to £933m. Investors marked the stock 8.6% lower to 215p as profit growth was lower than analysts' expectations.

Exhibitions business ITE warned investors over the effects of volatile currency movements on its annual profits due to exposure to embattled emerging markets, causing the shares to retreat 2.9% to 73p.

B2B information company Euromoney announced it would sell mining investment conference Mining Indaba to ITE for £30.1m. The stock was unmoved at £13.40.

SMALL CAP RISERS AND FALLERS

Shares in tiles specialist Topps Tiles gained 9.6% to 68.7p after revealing adjusted pre-tax profit in the year to 29 September are expected to be at the top end of expectations.

Story provided by StockMarketWire.com
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