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ITV rallies after nabbing easyJet CEO

Monday, 17th July 2017
ITV (ITV) topped the blue-chip risers following Carolyn McCall's decision to leave budget airline easyJet (EZJ) in for the broadcaster.

easyJet was down 1.2% to £14.26, while ITV gained 2.7% to 180p.

Media reports that oil giant BP (BP.) is planning to use big data to lower costs sparked interest in the stock, which rose 1% to 450.9p.

As BP is among the biggest stocks in terms of market cap, this helped lift the FTSE 100.

Brent crude oil was stable at $49 per barrel. Gold gained 0.3% to $1,229 per ounce and copper rose 1% to $5,974 per tonne.

Stronger iron, copper and gold prices also supported the the mining sector, and further boosted the FTSE 100, which traded 0.6% higher at 7,422.

Among the miners, Anglo American (AAL) and Antofagasta (ANTO) led the way and were up 2% to £11.39 and 872.5p, respectively.

OVERSEAS MARKETS

Strong economic data in China failed to lift Asian equities. Hong Kong and Japanese stock markets were flat this morning, while Shanghai's SSE Composite slumped 1.4% down to 3,176.

FTSE 100 RISERS AND FALLERS

British Gas owner Centrica (CNA) and Stadtwerke Munchen agreed to combine Centrica's European oil and gas exploration and production (E&P) business with Bayerngas Norge to form a new joint venture and create a leading independent European E&P company.

In other corporate news, UDG Healthcare (UDG) acquired US-based healthcare communications business Cambridge BioMarketing for up to $35m. Shares in the firm ticked 0.9% higher to 848.5p.

FTSE 250 RISERS AND FALLERS

It was good start to the week for Weir (WEIR) after the engineer said it expects to beat operating profit expectations thanks a recent strong recovery in its upstream North American markets. Shares in Weir surged 7.7% to £19.64.

Troubled Carillion (CLLN) continued to bounce back from recent share price weakness following a profit warning last Monday that cost CEO Richard Howson his job. The support services company said its CEK joint venture with Eiffage and Kier (KIE) successfully bid for the C2 and C3 contracts. It also appointed accountancy firm EY to support a strategic review. The stock rallied 18% to 68.2p.

Elsewhere, infrastructure group Balfour Beatty (BBY) advanced 3.3% to 271.5p. Investors were excited by a notification of intent on the awarded two contracts related to the High Speed 2 rail project, worth £2.5bn overall.

SMALL CAP RISERS AND FALLERS

KEFI Minerals (KEFI) reported the signing of a mandate letter and heads of terms for $135m of funding with Oryx Management to finance and operate on-site infrastructure at its Tulu Kapi gold project in Ethiopia. The stock catapulted 28% to 5.3p.

Rapid growth in Image Scan's (IGE) order book is encouraging for the company. Image Scan said it expects to exceed full-year market expectations. Shares in the company jumped 25% to 5.6p.


Story provided by StockMarketWire.com


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