Share Prices & Company Research

Market News

02 Jul 2019 | 16:42

FTSE closes at nine-month high

The FTSE 100 has hit a nine-month high after closing 0.8% higher at 7,559.19, benefiting from sterling weakness.

Sterling has dropped to a six-month low against the dollar following damning figures in the construction sector, with activity levels at their lowest in a decade.

The pound has also been hit by a warning from Bank of England governor Mark Carney that rising protectionism could 'shipwreck' the global economy.

LARGE AND MID CAP RISERS AND FALLERS

Small business loans platform Funding Circle sank 28.3% to 117p after it downgraded its revenue guidance, blaming an uncertain economic outlook hurting demand for loans.

Broking house Plus500 gained 5.1% to 567p on announcing that its revenue had improved substantially in the second quarter compared to the first.

Ryanair ascended 3.1% to €10.42 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 3.7% to £35.10 as it flew 19% more passengers in June, as it added news routes to Poland, Austria and Georgia.

Recently-listed travel ticket issuer Trainline is up 0.4% at 427p 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 3% to 864p after it submitted a draft business plan to UK national regulator Ofgem.

Sirius Minerals fell 0.1% 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 dropped 0.3% to 64p after it reiterated its outlook as it continued to expand its immediate pipeline of developments and acquisitions.

SMALL CAP RISERS AND FALLERS

Scotland-focused housebuilder Springfield Properties gained 3.2% to 112p as it revealed that the solid growth it had reported in the first half had extended into the second, while cost control had helped improve margins.

Story provided by StockMarketWire.com
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