Share Prices & Company Research

Market News

16 Aug 2019 | 11:58

UK shares gain following delayed stock market open

London's FTSE 100 gained lost ground on Friday following a delayed start to trading for the blue chip benchmark blamed on a technical glitch. European shares moved higher, boosted by positive investor sentiment after China hinted at plans to stimulate economic growth.

At 11.40, the FTSE 100 was up 40.46 points, or 0.57%, at 7,107.5.

LARGE AND MID CAP RISERS AND FALLERS

Exchange operator London Stock Exchange rose 1.5% to 6,822p after it eventually got trading back on track, having pinned the earlier delay on a 'potential trading services issue'.

The delay had affected the FTSE 100 and FTSE 250, though shares in smaller companies on AIM and the FTSE 350 had traded normally all morning.

Ultra Electronics gained 1.3% to 2,170p, on announcing that its joint venture with Sparton DeLeon Springs had won a contract worth up to $1.04bn for the manufacture of sonobuoys for the US Navy.

Oil services business Hunting improved 2% to 422.8p after completing the complementary acquisition of Texas-based RTI Energy Systems for $12.5m.

Fashion retailer Ted Baker was unchanged at 903.5p as it forged a product licence agreement with rival Next to accelerate the expansion of its childrenswear collections, replacing an existing arrangement with department store chain Debenhams. Next cheapened 14p to 5,626p.

SMALL CAP RISERS AND FALLERS

Cake decorations and food ingredients company Real Good Food slumped 6.9% to 6.75p after it booked a deeper annual loss, as revenue slipped and it wrote down the value of its assets.

Pendragon gained 3% to 11.06p on announcing that it had agreed to sell its Chevrolet motor-vehicle dealership in Puente Hills, California to businessman Scott Biehl for around £17.2m.

Network security company Corero tumbled 46% to 3.40p after it warned of a wider annual loss, amid disappointing sales.

Healthcare-focused communications group Cello Health was unchanged at 128p after it announced that it had acquired scientific consultancy Innovative Science Solutions for up to $10.5m.

Illustrated book publisher Quarto shed 1.5% to 66.5p, as it booked a first-half loss, after a small rise in sales was more than offset by expenses.

Panthera Resources reversed 4.4% to 8.12p after booking a full-year loss, although the company also said it was close to securing $0.5m of funding.

Aluminium and power producer EN+ Group reversed 1.5% to 7.13p as its revenue fell sharply in the first half of the year, driven by a decline in aluminium prices amid the ongoing US-China trade war.

Ecuador-focused gold miner SolGold fell 1.5% to 26.9p as it booked a deeper annual loss, largely owing to higher payments to employees and contractors. Story provided by StockMarketWire.com
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