Market Update Economic Events Directors Deals Commodities Prices News Market Movers

FTSE rises as sterling falls on weak UK growth data

Monday, 11th February 2019
UK economic growth slowed in December, prompting a fall in sterling, which was a catalyst the FTSE 100 as it boosts the relative value of its constituents' largely overseas earnings. The FTSE closed up 0.8% at 7,129.

European equities were also on a roll with Germany's DAX rising 1% to 11,014.

With little news on US-China trade war talks, Wall Street was subdued with the Dow Jones dipping 0.2% to 25,063 at around 5pm UK time.

Brent crude oil declined 1.3% to $61.30 per barrel.


Takeaways platform Just Eat gained 3.8% to 730.8p as hedge fund Cat Rock Capital, a 1.7% shareholder in the group, called for the company to enter merger talks with an industry peer.

Mike Ashley's Sports Direct advanced 0.8% to 272.6p as it apparently cans a bid (made on Friday night) for collapsed cafe chain Patisserie Valerie.

Shares in Smith & Nephew fell 3% to £14.69 on reports it is in talks to buy NuVasive in an estimated $3bn deal.

According to reports, the Competition and Markets Authority extended the deadline for a decision on the proposed merger between Sainsbury's and Asda. Shares in Sainsbury's were up 0.7% at 293.9p.

Gold miner Acacia Mining fell 1.2% to 189.8p, despite swinging to an annual profit, as it forecast a broadly flat production performance in 2019.

Polymetal International rose 0.3% to 848.6p after it gave a green light to its Pox-2 gold project in Russia following completion of a feasibility study.


Consumer goods group UP Global Sourcing, also known as Ultimate Products, rallied 10.3% as it forecast annual earnings ahead of current market expectations thanks to a jump in sales.

Self-storage group Lok'nStore climbed 5.3% as it boosted its first-half revenue by 7.7%.

Residential property developer Telford Homes rose 1.3% after it exchanged contracts to acquire a site in Stratford, London for £20m.

OptiBiotix Health gained 7.8% to 90p after subsidiary ProBiotix Health appointed EIWA Trading as the exclusive distributor of its cholesterol and blood pressure-reducing probiotic product in Japan.

Gambling group Stride Gaming sparked 7.2% higher to 111p on revealing that it was considering strategic options, including a potential sale of the company.

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.