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20 Jun 2019 | 09:04

FTSE on the front foot amid Fed focus

The FTSE 100 was up 0.2% to 7,418.83 in early trading on Thursday after the US Federal Reserve kept rates on hold and investors guessing about its next move.

The Bank of England is set to announce its own decision on rates at lunchtime.

Phone retailer Dixons Carphone swung to a loss and said it expected 'more pain' in its mobile segment in the year ahead as it pushes ahead with its transformation programme. For fiscal 2019, the company reported a statutory loss before tax of £259m, compared with a profit of £289m, with group like-for-like revenue up 1%. The shares fell 17.6%.

Dunelm Group upgraded its profit outlook on 'strong' trading across its business continued amid a boost from 'unseasonably' favourable weather conditions. Its shares rose 4.6%

Meggitt, which specialises in high performance components for the aerospace, defence and selected energy markets, and Lufthansa Technik AG, a provider of maintenance, repair and overhaul (MRO) services, have signed an agreement for the provision of comprehensive component MRO services for commercial aircraft in mainland China. The shares were flat.

Plus-sized clothing retailer N Brown Group reported 'solid' trading performance in its fiscal first quarter even as revenue declined as the retailer continued to wind down its legacy offline business. It shares rose 1.4%.

Petropavlovsk has announced the placement of $125m of guaranteed convertible bonds due 2024. The shares were up 5.1%.

Premier Technical Services Group rose 140% after agreeing to a takeover by a subsidiary of Australian bank Macquarie.

Junior gold miners Shanta Gold and Serabi Gold rose 10.3% and 26.6% respectively on positive drilling results

Story provided by StockMarketWire.com
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