Share Prices & Company Research

Market News

05 Apr 2019 | 12:04

Progress with US-China trade talks fails to fuel FTSE

The FTSE 100 barely remained in positive territory as progress between the US and China on trade talks and attempts between Theresa May and Jeremy Corbyn to agree a Brexit deal failed to boost investor sentiment.

At midday, the blue-chip index was only 17.7 points higher at 7,419.

UK house prices rose 3.2% in the first quarter of 2019 compared to the same period last year according to Halifax's house price index.

Brent crude oil dipped 0.4% to $69.14 per barrel.

MID AND LARGE CAP RISERS AND FALLERS

Peer-to-peer lending firm Funding Circle dropped 6.7% to 320p on the announcement that Funding Circle SME Income Fund is to be wound down.

Shares in Purplebricks dropped 6.7% to 128.7p after investment bank Berenberg downgraded its recommendation from 'buy' to 'sell.

Gambling company GVC advanced 1.3% after it reported an 8% increase in first-quarter net gaming revenue, as soft gross win margins in Italy and the UK were offset by improved margins in other territories.

Private hospital operator NMC Health gained 3% to £25.36 on the appointment of Tarek Alnabulsi as independent non-executive director.

Electricity producer ContourGlobal gained 5.9% on the back of a 19% rise in annual adjusted profit. The company also announced that it had hired Stefan Schellinger as its new chief financial officer.

Miner and commodities trader Ferrexpo added 2.2%, despite it reporting a modest fall in first-quarter iron-ore pellet production.

SMALL CAP RISERS AND FALLERS

Auto retailer Motorpoint fell 7% after it announced that a weaker second half had limited its annual adjusted profit growth to 10%.

Flavour and fragrance ingredient supplier Treatt advanced 0.5% as its first-half revenue grew by 7% despite price weakness in its key citrus category.

Marketing company Matomy Media plummeted 26%, even as it announced that it was considering an offer of $36m to sell its 90% stake in Team Internet.

K3 Capital Group fell 11% after it warned on profits as Brexit uncertainty weighed on its ability to wrap up a new business in its corporate finance division.

Cancer diagnostics group Oncimmune rose 3.1% as it signed an exclusive agreement for the distribution of its lung cancer test kit in Portugal with Sabartech, its existing distributor in Spain.

Story provided by StockMarketWire.com
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