Share Prices & Company Research

Market News

22 Feb 2019 | 17:05

Global equities gain on potential trade war breakthrough

World stocks enjoyed some positive momentum as investors hoped for a deal between the US and China to put an end to the trade war.

The FTSE 100 closed 0.1% higher at 7,178.

On Wall Street, investor sentiment was stronger as the Dow Jones rose 0.7% to 26,026 at around 5pm UK time.

Brent crude was up 0.2% at $67.20 per barrel.

LARGE AND MID CAP RISERS AND FALLERS

CMC Markets crashed 22.8% to 90p after warning contracts for difference and spread betting sales are expected to be 25% to 35% lower year-on-year compared to previous guidance of a 20% fall.

Shares in peers Plus500 and IG Group fell as investors had a negative read across from CMC.

High street bank Barclays declined 2.3% to 157p after non-executive director Gerry Grimstone decided to resign.

Cheese and butter manufacturer Dairy Crest agreed to be taken over by Canadian dairy processor Saputo in a deal worth £975m or 620p per share. Its shares advanced 11.3% to 618p.

Subprime lender Provident Financial rose 15.2% to 589.4p after it received a £1.3bn share-based takeover bid from rival Non Standard Finance.

Challenger bank Metro Bank gained 9.6% to £14.30 on news that it had won £120m in funding from Banking Competition Remedies, a vehicle set up by the UK government and European Union and funded by Royal Bank of Scotland.

Fellow lender CYBG went in the opposite direction, shedding 5.2% to 187.1p, after confirming that it missed out on the funding.

Educational publisher Pearson was up 2.2% after it booked a lower annual operating profit that nevertheless landed in the upper half of its guidance range. It targeted a return to revenue growth in 2020.

Power utility Centrica gained 1.1% after announcing that it had renewed a series of debt facilities worth a combined £4.2bn with 21 banks. The company's shares fell heavily after a disappointing earnings result on Thursday.

Theme park group Merlin Entertainments said it had sold its Hotham and Falls Creek Australian ski resorts Vail Resorts for A$174m (£95m). Its shares dipped 0.2%.

SMALL CAP RISERS AND FALLERS

Struggling UK carrier Flybe fell 26.1% to 1.5p as it completed the sale of its businesses to the Connect Air consortium involving Virgin Atlantic and Stobart for just £2.8m. Stobart gained 0.5%.

A positive research note on Codemasters from Berenberg helped the shares accelerate 3.9% to 198.5p.

Advanced materials company Haydale Graphene plunged 80.2% as its first-half losses widened and it launched a discounted share issue to raise £3.8m.

Entertainment marketing communications group Reach4entertainment gained 10% to 1.3p on news that it agreed to acquire advertising agency Agency Press for up to £10m, and had launched a £3m share issue to help fund the deal.

Story provided by StockMarketWire.com
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.