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Market News

05 Apr 2019 | 16:59

Upbeat US jobs data sparks rise in global equities

Better than forecast US jobs data helped global equities gain momentum with the FTSE 100 enjoying one of the biggest boosts, up 0.6% at 7,446.

Wall Street was also in a good mood as the S&P 500 jumped 0.3% to 2,889 at around 4pm UK time.

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 rose 0.8% to $70 per barrel and copper cheapened 0.6% to $2.89 per pound.

MID AND LARGE CAP RISERS AND FALLERS

Peer-to-peer lending firm Funding Circle dropped 8.1% to 315p on the announcement that Funding Circle SME Income Fund is to be wound down.

Shares in Purplebricks dropped 6.1% to 129.6p after investment bank Berenberg downgraded its recommendation from 'buy' to 'sell.

Transport operator Stagecoach headed in the same direction, down 5.8% at 138.9p, following a downgrade from 'underperform' to 'hold' by analysts at Jefferies.

Gambling company GVC advanced 0.8% 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 2.6% to £25.28 on the appointment of Tarek Alnabulsi as independent non-executive director.

Electricity producer ContourGlobal gained 6.9% 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%, despite it reporting a modest fall in first-quarter iron-ore pellet production.

SMALL CAP RISERS AND FALLERS

Auto retailer Motorpoint dipped 0.2% after it announced that a weaker second half had limited its annual adjusted profit growth to 10%.

Flavour and fragrance ingredient supplier Treatt advanced 1.8% as its first-half revenue grew by 7% despite price weakness in its key citrus category.

Marketing company Matomy Media fell 13.4%, even as it announced that it was considering an offer of $36m to sell its 90% stake in Team Internet.

K3 Capital Group fell 15.6% 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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