Share Prices & Company Research

Market News

11 Jun 2019 | 12:02

China stimulus hopes lift FTSE, sterling buoyed by jobs report

The FTSE 100 was up 0.4% by midday at 7,406.93 as the mining sector rallied on hopes of fresh financial stimulus for the commodity-hungry Chinese economy.

Gains for the index of leading UK shares were somewhat constrained after a strong jobs market report provided sterling with a boost.

LARGE AND MID CAP RISERS AND FALLERS

Fashion retailer Ted Baker plunged 25.8% as it warned on profits amid 'extremely difficult' trading conditions that shrunk sales growth rates.

Supermarket chain Sainsbury's fell 0.6% as it appointed former RBS executive Jim Brown to head up its banking division.

Over 50's services group Saga gained 4.5% after it would partner with Goldman Sachs unit Marcus to offer savings products.

Catering company Compass dipped 0.9% on news that it had agreed to acquire Sweden's Fazer Food Services for an enterprise value of €475m (£424m).

Bellway Homes reversed 1.5% as the market reacted tepidly to a 4.7% rise in its sales reservation rate in its financial year to date.

Fellow house builder Crest Nicholson added 0.2%, despite its first-half profit falling 11%, as the company also stuck to its full-year guidance.

Hazard detection technology company Halma gained 1.9% after it grew its annual profit by a fifth.

Medical technology company Smith & Nephew tracked sideways on announcing that it had agreed to acquire Switzerland-based provider of optical tracking technology Atracsys Sarl, for an undisclosed sum.

SMALL CAP RISERS AND FALLERS

Auto retailer Motorpoint added 0.5% after it reported a 13% rise in annual profit driven by increased sales across its existing sites, though margins contracted in the second half.

Online fashion retailer Quiz dropped 22.8% after it booked a 97% drop in annual profit and suspended its dividend, as heavy discounting and investment spending took a toll on margins.

Packaging company Mpac firmed 4% thanks to it reducing the size of a legacy pension deficit.

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.