Share Prices & Company Research

Market News

02 Jul 2019 | 11:58

FTSE lifted higher by defensive stocks

UK stocks continued to climb on Tuesday, driven by the more defensive utilities and insurers.

The weakness in the pound against the dollar also helped the FTSE 100, with the benchmark index up 0.6% to 7,545.55.

LARGE AND MID CAP RISERS AND FALLERS

Small business loans platform Funding Circle sank 21.6% to 128p after it downgraded its revenue guidance, blaming an uncertain economic outlook hurting demand for loans.

Broking house Plus500 gained 3.5% to 559p on announcing that its revenue had improved substantially in the second quarter compared to the first.

Ryanair ascended 1.5% to €10.26 after the budget carrier announced that it had flown 13% more passengers in June compared to the same month a year earlier.

Eastern European-focused rival Wizz Air gained 0.8% to £34.14 as it flew 19% more passengers in June, having added new routes to Poland, Austria and Georgia.

Recently-listed travel ticket issuer Trainline was flat at 425p despite reporting that it sold 20% more tickets in the first quarter of its financial year, underpinned by growth both at home and abroad.

Power utility National Grid gained 1.9% to 855p after it submitted a draft business plan to UK national regulator Ofgem.

Sirius Minerals fell 1.3% to 15p despite the company saying that it remained on track to achieve first polyhalite in 2021 from its flagship fertilizer project in Yorkshire.

Healthcare property investor Assura was unmoved at 65p after it reiterated its outlook and continued to expand its immediate pipeline of developments and acquisitions.

SMALL CAP RISERS AND FALLERS

Scotland-focused housebuilder Springfield Properties gained 4.2% to 113p as it revealed that the solid growth it had reported in the first half had extended into the second half, while cost control had helped improve margins.

Story provided by StockMarketWire.com
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