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Market News

19 Jul 2019 | 16:44

Strong US open helps lift FTSE

The FTSE 100 ended the week on a positive note, supported by a strong open in the US. By the close the FTSE was up 0.2% at 7,508.70.

This followed a lunchtime wobble when the index was briefly in the red. Travel operator Thomas Cook was down 9.5% amid ongoing concerns over its future.


Royal Bank of Scotland fell 1.5% on noting that outgoing chief executive Ross McEwan had been selected to lead National Australia Bank.

The British bank said a search for McEwan's replacement was ongoing, while confirming that he had a 12-month notice period extending to April 2020.

Television broadcaster ITV gained 0.8% after it announced that it had signed an agreement with the BBC to launch their BritBox streaming service in the fourth quarter of 2019.

Convenience store chain SSP gained 3.2% on the back of a 10% rise in third-quarter revenue, buoyed by more footfall at airports.

Acacia Mining advanced 20% as it agreed to a takeover by major shareholder Barrick Gold.

Self-storage company Big Yellow reversed 1.1% after it said a more muted performance at the end of last year due to Brexit uncertainty had limited growth in first-quarter revenue to 4.4%.

Merchant bank Close Bros shed 4% as it warned that profits in its asset management division had been affected by more subdued market conditions and ongoing investment spending.

Residential property group Grainger fell 0.7% after it said London mayor Sadiq Khan's call for a review of the city's rental market would have a 'limited effect' on its business.

Home repairs and improvements business Homeserve firmed 0.9% on reiterating that it expected to post 'strong' growth in the current financial year.


Oil and gas firm Amerisur Resources gained 38.7% as it announced it had received a non-binding proposal and indicative offers for some of its assets, adding that it was reviewing its options which could include a sale of the company.

Engineering contractor Van Elle sank 4.1% on warning that it would miss its recently-lowered profit guidance and had experienced a quiet start to its new financial year.

Property investor Regional REIT dipped 0.2% on revealing that it had raised £62.5m from a capital raising, exceeding a £50m target set in June.

Clinical-stage biopharmaceutical Motif Bio dropped 5.1% after its market value slipped below a minimum threshold required for it to be listed on NASDAQ.

The company has 180 days to get back above the threshold, otherwise it will be de-listed from the US exchange.

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