Market Update Economic Events Directors Deals Commodities Prices News Market Movers

UK stocks open 0.2% stronger, led by miners

Tuesday, 13th February 2018
UK stocks pushed higher at the open on Tuesday, as miners continued to benefit from a rally in commodity prices owing to a weaker dollar.

At 0855, the benchmark FTSE 100 index was up 13.61, or 0.2%, at 7,190.67.

Anglo American, Glencore and Antofagasta led resources stocks higher, with gains of 1.3%, 1.2% and 1.0, respectively.

Fellow miner BHP Billiton said it would book a one-off $1.8bn expense related to US tax changes. Over the longer term, however, the Anglo-Australian company said the changes would benefit its bottom line. The shares gained 0.6%.

Auto retailer Pendragon rallied 12.4% as investors looked past a fall in annual profit and focused on a surge in used-cars sales and signs of margin improvement in the fourth quarter.

Travel agent TUI Group, meanwhile, gained 2.9% after it boosted first-quarter revenue amid strong demand for Western Mediterranean destinations and a recovery in Turkey and North Africa.

Cancer detection company Oncimmune shed 2.1% as interim losses widened due to a jump in operating costs.

Smart Metering Systems added 4.2% as it inked a meter-rental agreement with Utilita Energy, providing an opportunity for the installation of over 100,000 new meters during 2018.

Property investment company A&J Mucklow Group booked a large rise in first-half profit, owing to positive asset revaluations. Its shares gained 2.0%.

Craneware rallied 6.4% after the healthcare software group said it secured two significant new contracts with hospital providers in the US.

Consumer healthcare group Venture Life said its mouth-wash product would appear in Day Lewis pharmacies during the first quarter of 2018. Its shares rose 0.9%.

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.