Share Price.com
Market Update Economic Events Directors Deals Commodities Prices News Market Movers

Markets rally around the world on rate-cut hopes

Friday, 7th June 2019
A 1.1% rise in the FTSE 100 helped to put investors in a better mood at the end of the trading week. Helping the blue chip index was a 1.4% rise in the oil price which lifted shares in Royal Dutch Shell and BP, but the key driver for hopes for interest rate cuts.

Markets also rallied across Europe, the US and Asia. The Dow Jones index jumped 1.2% while the S&P 500 advanced 1.3%.

Among UK corporate news, Singapore-based real estate group made a 685p cash per share takeover offer for Millennium & Copthorne Hotels, sending the latter's share price up 34%.

Pharmaceutical giant GlaxoSmithKline pushed 1.4% higher to £15.66 as the Federal Drug Administration approved two new methods for administering the company's asthma treatment.

Iron ore miner Ferrexpo was lifted by 4.5% to 249.47p on announcing that it expected first-half earnings to increase 'materially' year-on-year, driven by higher pricing, production and sales volumes.

Engineering company Smiths gained 1.3% to £14.87 as it announced that it had appointed JehanZeb Noor as chief executive of its medical division. The former Amcor Flexibles executive takes up the role on 1 July and will oversee the separation of the business, expected to be completed during the first half of calendar 2020.

Concrete levelling group Somero Enterprises issued a profit warning, saying rain in the US had delayed construction projects. Its shares fell 22% to 275.32p.

Fantasy figures retailer Games Workshop was a bright spot, rallying 4.7% to £46.54 after it guided for a higher annual profit, buoyed by growing sales.

Greg Ball, non-executive director of online value retailer Findel, invested £40,125 of his own money in company shares. The market liked the news, sending its shares up 10%. Two days ago Findel reported a 33% jumped in full year pre-tax profit to £29.4m.

Minimally invasive surgery technology company Surgical Innovations plunged 27.3% on warning that its annual profit would fall, as Brexit uncertainty and funding pressures at the NHS weighed on sales. Story provided by StockMarketWire.com


Share Search
Share Search Share Search

Visit the Share Search.
Share Search

Share News
Share News



SharePrice.com 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.