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04 Jul 2019 | 09:30

UK stocks little changed in thin trading

UK stocks are little changed on Thursday in a lacklustre market despite strong gains on international markets overnight.

At 08:58, the benchmark FTSE 100 was 0.0021%, or 0.16 points, higher at 7,609.48.

Associated British Foods added 0.53% as it saw sales rise 4% and said it expected "good" growth from Primark even as the retailer's like-for-like sales were held back by "unseasonable" weather in May.

Oil and gas producer Energean surged 10.46% after it entered into a conditional sale and purchase agreement to acquire Edison E&P from Edison for $750m, and detailed plans to raise up to £211m through the placing of shares to support the acquisition.

Private equity and infrastructure investor 3i Group edged 0.24% higher after it said it remained on track to meet its dividend target as its portfolio continued to perform in line with expectations in the first quarter thanks to a boost from acquisitions.

Housebuilder Persimmon lost 2.19% after it reported a 5.6% decrease in housing revenues in the first half of 2019 and a slight decline in total forward sales as it focused on its "top priority" of delivering improved customer service.

Low-cost housebuilder and strategic land specialist MJ Gleeson climbed 2.98% after it said it was "confident" its full-year results would be "comfortably in line with expectations" amid a strong first half, adding that it remained "comfortably on track" to meet its target of doubling new home volumes to 2,000 per year by 2022.

Wealth management company Quilter rose 0.29% after it confirmed it was undertaking a strategic review of its heritage life insurance business Old Mutual Wealth Life Assurance, including its possible sale.

Superdry edged 0.18% higher after it said it had appointed two new non-executive directors to its board, but said it was continuing to search for a further two.

Great Portland Estates added 0.40% as it said "positive activity" had continued in the first quarter of the year amid "healthy" leasing activity and "excellent" progress at its three committed development schemes.

International Public Partnerships, the listed infrastructure investment company, climbed 0.34% as it said it had taken full ownership of BeNEX after acquiring the remaining 51% stake from Hamburger Hochbahn.

In a letter, Game urged shareholders to accept the £52m takeover from Sports Direct. Game was last seen down 0.10%.

D4t4 Solutions shed 0.58% after it announced that outgoing Chief Financial Officer Carmel Warren had stepped down from the board.

AB Dynamics added 0.35% as it said it had appointed Sarah Matthews-DeMers as Chief Financial Officer.

Publisher Wilmington rose 1.01% after it said it had signed a revised £65m revolving credit facility that extended its existing credit to 3 July 2023, from 1 July 2020 previously.

Crypto mining services provider Argo grew 2.64% as it announced a "major expansion" of its mining capacity to support its mining operations of Bitcoin.

Internet domain names provider CentralNic Group lost 2.40% even as it said it had settled its €50m senior secured bond issue, and added that its recent acquisitions were expected to be completed at the end of the month.

DekelOil leapt 6.13% as it notched its "best ever" first-half crude palm oil production and sales jump following record second-quarter output.

Merian Chrysalis Investment company climbed 0.92% after it said it had invested £14.9m in retirement solutions provider Embark Group.

Story provided by StockMarketWire.com
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