Market Update Economic Events Directors Deals Commodities Prices News Market Movers

UK stocks open 0.5% higher as Brexit fears pressure pound

Tuesday, 21st May 2019
UK stocks opened higher on Tuesday as growing fears of a no-deal Brexit sparked by Tory leadership rumblings heaped pressure on the pound, helping exporters.

At 0855, the FTSE 100 was up 39.39 points, or 0.5%, at 7.350.27.

Supermarket giant Tesco gained 0.3% on announcing that its banking division had ceased new mortgage lending and that it was was actively seeking to sell the entire loan book.

Construction company Galliford Try rallied 13% on guiding for its full-year results to meet market expectations, supported by ongoing demand for housing and its effort to trim its construction business.

Water utility Severn Trent gained 0.6% after it posted a sure and steady 6.8% rise in annual profit, driven by higher sales in its regulated and waste water business following tariff increases.

Topps Tiles slipped 3.7% as its profits in the first half were dragged down by start up costs at its new commercial business, though its underlying profits improved.

Footwear retailer Shoe Zone fell 6.5% after it booked a flat first-half profit amid a small fall in sales.

Meat retailer Cranswick sizzled 1.2% higher as it booked a modest rise in annual adjusted profit, despite citing pressure on sales from competition and Brexit uncertainty.

Cycling and motor equipment retailer Halfords edged 0.1% higher despite posting a 24 fall in annual profit that was nevertheless in line with guidance.

Booking and convenience retailer WH Smith shed 0.7% on reporting a large rise in year-to date-sales, as it rolled out new outlets at airports. High street sales, however, continued to come under pressure.

Healthcare services provider UDG Healthcare gained 6.7% on announcing that it had acquired two consultancy groups for up to a combined $106.3m.

London West End property investor Shaftesbury fell 0.4% after it booked a 69% fall in first-half profit owing to the impact of property revaluations. Underlying earnings, however, were supported by higher rental income and the company upped its dividend by 4.8%.

Document management business Restore added 2.7% on news that it had poached Neil Ritchie, the chief financial officer of luxury handbag group Mulberry, as its finance head.

Engineering services group Renew gained 3.1% after it posted a rise in first-half profit, amid a sales boost provided by its acquisition last May of QTS. Story provided by

Share Search
Share Search Share Search

Visit the Share Search.
Share Search

Share News
Share News will do their best to ensure the quality of the information displayed on this site, but all information is provided as-is, free of charge. We cannot be held responsible for any loss, material or otherwise, due to incorrect information found here. UK data supplied by NBTrader and Digital Look. Share Prices are at least 15 minutes delayed.