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UK stocks open 0.7% higher as May pushes Brexit deal

Monday, 18th March 2019
UK stocks opened higher on Monday as Theresa May scrambled to drum up support for her Brexit deal and investors braced for a key US interest rate decision by the Fed due Wednesday.

At 0859, the FTSE 100 was up 47.48 points, or 0.7%, at 7.275.76.

Shore retailer Footasylum jumped 74% after it agreed to be acquired by JD Sports for about £90.1m. JD Sports shares edged up 0.1%.

Office services provider Restore rallied 6.0% after its annual profit more than doubled, supported by strong sales at its document management business.

Astrazeneca gained 0.7% as its potential new treatment for lung disease was granted orphan drug designation by US regulators.

Domino's Pizza rose 2.1% as it played down reports of a dispute with its franchisees.

Martin Sorrel's newly-formed public relations company S4 Capital gained 0.4%, despite booking a loss, as its underlying earnings improved.

Services supplier Serco gained 1.2%, having won a contract from the government of South Australia state to operate and manage a remand centre for its department of correctional services.

Russian warehouse property investor Raven Property dropped 1.1% as it swung to an annual loss, pinned on adverse currency movements.

Antibiotics developer Motif Bio shed 1.6% on news chairman Richard C. E. Morgan had suddenly resigned to focus on other business commitments.

Electronic systems developer PipeHawk fell 2.2% as it posted a first-half loss, owing to higher staff costs and other expenses.


Story provided by StockMarketWire.com


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