StockMarketWire | 01/07/2016 - 19:11
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London's headline index continued to rally, ending a volatile week firmly above pre-referendum levels, despite the political shenanigans going on in Westminster.

The blue-chip FTSE 100 advanced 1.13% to 6,577.83 and the mid cap FTSE 250 gained 1.19% to 16,465.5, as investors made a move on more defensive stocks and big ticket gold producers.

Markets also appeared to warm to Bank of England governor Mark Carney's attempt to calm nerves in the City, after he publicly pledged to implement measures to bolster the UK economy, following the Brexit result, including a potential interest rate cut.

Today's top blue-chip risers were Fresnillo (FRES), up 7%, and housebuilder Persimmon (PSN), up 6.4%, while the biggest faller was Sage (SGE), off 3.18%.

West Texas Intermediate (WTI) crude oil recently traded at $48.38 per barrel and Brent crude oil at $49.68 per barrel. Gold was on the up at $1335.1 per ounce.

MAIN NEWS OF THE DAY

Sunday Mirror owner Trinity Mirror (TNI) said it anticipated results would meet expectations as a result of strong cash generation, which enabled a further reduction in net debt, gaining 4% to 91p.

Coach operator Stagecoach (SGC) was downgraded by JP Morgan after weaker GDP growth data, which would affect the company's bus and rail operations. Its shares ended 7.79% lower at 213.1p.

In June, the UK manufacturing sector moderately improved, according to the Markit/CIPS purchasing managers' index.

Markit's final US Manufacturing Purchasing Managers' Index for June registered 51.3, up from 50.7 in May.

US construction spending during May fell to a seasonally adjusted annual rate of $1,143.3 billion - 0.8% below the revised April estimate of $1,152.4 billion, the US Census Bureau said today.

The Institute for Supply Management's latest report said economic activity in the manufacturing sector expanded in the US during May for the third consecutive month.

MID CAP RISERS AND FALLERS

Findel (FDL) has confirmed it is in the early stages of discussions with Sports Direct International (SPD) over a possible commercial supply arrangement between Express Gifts and SPD and the possible appointment of Mike Ashley to the board. SDL shares rose 14% to 200.75p in reaction to the news, while SPD shares were off 2.7% at 310.86p.

SMALL CAPS RISERS AND FALLERS

Australia-based gold firm SolGold (SOLG) executed a short-term unsecured loan agreement with DGR Global to receive up to £7 million, nudging higher to 3.15p.

The market was impressed with cloud computing provider RapidCloud International's (RCI) contract with Malaysian conglomerate, Sime Darby Global Services Centre, for its RapidAPI gateway solution, shooting up 12.3% to 41p.

Servoca (SVCA) jumped 8.4% to 22.2p upon the acquisition of Classic Education for £1.2 million, to be funded from existing cash resources and debt facilities.

Investors were worried after media solutions specialist SpaceandPeople (SAL) said it would close S&P+ as a result of delayed and cancelled deals, which will have an effect on full-year financial results, triggering a share price drop of 11.1% to 40p.

Mobile casino operator Nektan (NKTN) slumped 24.6% to 46p after it said marginally lower EBITDA reduced the company's cash levels, forcing directors to assess financing options.

Tissue Regenix (TRX) won a contract with a US purchasing organisation for the use of DermaPure, sending the shares up 7.46% to 18p.

Oil production company EnQuest's (ENQ) drilling of the Scolty/Crathes development wells was completed ahead of schedule and under budget, boosting its shares 5.5% to 33.75p.

Clear Leisure (CLP) fell 12.2% to 0.7p after it narrowed full-year operating losses and financing charges were higher than the previous year.

Furniture retailer John Lewis of Hungerford (JLH) posted higher sales and a bigger order book, but retreated to 1p as investors reacted badly.

Pet medicine maker ECO Animal Health (EAH) posted improved full-year pre-tax profit and a planned 20% dividend hike, as a result of higher sales and a weaker pound, climbing 13.2% to 430.26p.


By StockMarketWire | 01/07/2016 - 11:46

The FTSE 100 continued to display post-Brexit momentum as investors maintained the trend of buying defensive stocks like British American Tobacco (BATS) and gold miners such as Rangdold Resources (RRS).

The FTSE 100 advanced 0.3% to 6,521.93, while the FTSE 250 slid 0.3% to 16,225.81.

Bank of England governor Mark Carney hinted at a UK interest rate cut in a bid to help Britain avoid a recession. That sent the banks down amid fears that lower rates would reduce their profit margins. Royal Bank of Scotland (RBS) and Barclays (BARC) fell by up to 3.3%.

West Texas Intermediate (WTI) crude oil declined 0.6% to $48 and Brent crude oil slipped 0.6% to $49.4 per barrel, respectively.

Gold glittered at $1335.1 per ounce.

MAIN NEWS OF THE DAY

Sunday Mirror owner Trinity Mirror (TNI) said it anticipated results would meet expectations as a result of strong cash generation, which enabled a further reduction in net debt, gaining 4.3% to 91.2p.

Coach operator Stagecoach (SGC) was downgraded by JP Morgan after weaker GDP growth data, which would affect the company's bus and rail operations. Its shares dropped 9.9% to 208.3p.

In June, the UK manufacturing sector moderately improved, according to the Markit/CIPS purchasing managers' index.

MID CAP RISERS AND FALLERS

Finance recruitment specialist PageGroup (PAGE) fell 2% to 291.3p as investors worried about relocations of financial sector staff away from London.

SMALL CAPS AND RISERS

Australia-based gold firm SolGold (SOLG) executed a short-term unsecured loan agreement with DGR Global to receive up to $7 million, nudging higher to 3p.

The market was impressed with cloud computing provider RapidCloud International's (RCI) contract with Malaysian conglomerate, Sime Darby Global Services Centre, for its RapidAPI gateway solution, shooting up 12.3% to 41p.

Servoca (SVCA) jumped 7.9% to 22.1p upon the acquisition of Classic Education for £1.2 million, to be funded from existing cash resources and debt facilities.

Investors were worried after media solutions specialist SpaceandPeople (SAL) said it would close S&P+ as a result of delayed and cancelled deals, which will have an effect on full-year financial results, triggering a share price drop of 13.3% to 39p.

Mobile casino operator Nektan (NKTN) slumped 21.3% to 48p after it said marginally lower EBITDA reduced the company's cash levels, forcing directors to assess financing options.

Tissue Regenix (TRX) won a contract with a US purchasing organisation for the use of DermaPure, sending the shares up 9.2% to 18.3p.

Oil production company EnQuest's (ENQ) drilling of the Scolty/Crathes development wells was completed ahead of schedule and under budget, boosting its shares 4.7% to 33.5p.

Clear Leisure (CLP) fell 15.1% to 0.7p after it narrowed full-year operating losses and financing charges were higher than the previous year.

Furniture retailer John Lewis of Hungerford (JLH) posted higher sales and a bigger order book, but retreated to 1p as investors reacted badly.

Pet medicine maker ECO Animal Health (EAH) posted improved full-year pre-tax profit and a planned 20% dividend hike, as a result of higher sales and a weaker pound, climbing 13.9% to 432.7p.


By StockMarketWire | 01/07/2016 - 08:58

The FTSE 100 opened in positive territory, as widely predicted, after Bank of England governor Mark Carney hinted at a potential cut to already low interest rates after the 'Leave' referendum result.

Asian and US markets also pushed higher overnight.

Soon after the open, the FTSE 100 was up 0.33% at 6,525.64 and the FTSE 250 was 13.57 points higher at 16,284.6.

Crude oil prices were mixed with WTI trading at $48.4/bbl and Brent at $49.68/bbl. Gold was higher at $1,337.2/oz.

Miners were among the large cap risers once more with Fresnillo (FRES) and Randgold Resources (RRS) making particularly good progress.

Cruise operator Carnival (CCL) and oil giant BP (BP.) also featured, while today's standout fallers were Legal & General (LGEN) and BHP Billiton (BLT).

BIGGER MOVERS

The shares of TV and multimedia content producer, Ten Alps (TAL), slumped 22% to 0.62p after its CEO Mark Wood announced that he is stepping down with immediate effect.

SpaceandPeople (SAL) shares fell 21% to 35.5p after announcing that S&P+, which operates a venture in a niche sector distinct from its core businesses, has now been significantly curtailed and has insufficient prospects in both the short and medium term to allow it to trade profitably.

Nektan (NKTN) says it expects growth in revenue for the second half of the year to be positive with an expected total NGR of £4,243k (H1: £1,629k), an increase of 160% over the first half of the year. Nevertheless, the shares fell almost 20% to 49p.

LONDON HIGHLIGHTS

RSA Insurance (RSA) rose 1.1% to 505p after completing the sale of its operations in Uruguay to Suramericana, the insurance subsidiary holding of Grupo de Inversiones Suramericana.

EnQuest (ENQ) has confirmed a new discovery in the central North Sea, adding that the implementation of its 2016 drilling programme has been excellent. The shares shot up 5.3% to 33.69p.

John Lewis of Hungerford (JLH) shares dropped 4.8% to 1p after the company said sales for the third quarter ended 31 May would be around 12.5% higher than a year ago at £1.86 million.

BHP Billiton Brasil (BLT) is to appeal an interim order of the Superior Court of Justice to reinstate the BRL20 billion public civil claim made by Brazilian authorities against Samarco, Vale and BHP Billiton Brasil. BLT shares were down 1.3% to 929.71p.

RapidCloud International (RCI) fell 4.1% despite announcing that it had won a multi-phase, 12-month contract with a leading Malaysian conglomerate, Sime Darby Global Services Centre (Sime Darby) for its RapidAPI gateway solution.

ECO Animal Health Group (EAH) reports record full year results with pre-tax profits up 51% at £7.7m. Shares rose 6.6% to 405p.

Premier Oil (PMO) shares were little changed at 76.5p after the company said it was in discussions with its lending group on the terms of its existing financial facilities.

SolGold (SOLG) executed a short-term unsecured loan agreement with DGR Global to provide up to $7 million in funding for the period through to 31 December 2016. Shares rose 4.6% to 3.21p.

Servoca (SVCA) shares fell 3.4% to 19.8p after it announced the acquisition of Classic Education for £1.2m.

DJI Holdings (DJI) has reported consolidated gross sales from continuing operations, revenue from continuing operations and loss after tax of £79m (2014: £583m), £5.5m (2014: £47.5m - restated) and £11.4m (2014: £3.6m) respectively. The shares rose 5.1% to 114p.

Concurrent Technologies (CNC) says it has conducted an additional review of its financial risk and trading plans following recent changes in currency rates and the sharp decline in the value of sterling against the US dollar. The shares were 1.6% higher at 62p.

Clear Leisure (CLP) shares fell over 15% to 0.7p after reporting an operating loss of €642,000 for the year to the end of December.


By StockMarketWire | 01/07/2016 - 06:19

The FTSE 100 is expected to push higher, according to financial websites, after the Bank of England governor Mark Carney hinted at fresh stimulus measures, including a potential interest rate cut, following the Brexit result.

US & ASIA

In the US last night, the Dow gained 235.31 points to close at 17,929.99, the broader-based S&P 500 added 28.09 points to 2,098.86, while the Nasdaq Composite pushed 63.43 points higher to 4,842.67.

In Asia today, the Nikkei was recently up 90.29 points at 15,666.21 and the Hang Seng had gained 358.25 points at 20,794.37.

In commodities, WTI crude oil recently traded at $48.61 a barrel, Brent at $50.03 and gold was $1,332.9 an ounce.

LONDON MARKETS

In corporate news, Bellzone Mining and Pennon host AGM's, Bluefield Solar Income Fund has an EGM scheduled, while Alpha Real Trust is due to release its annual report.