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FTSE gains momentum on mining rally

Friday, 4th January 2019
Miners enjoyed a boost ahead of trade talks between the US and China next week, helping the FTSE 100 advance 1.4% to 6,786 around midday.

Antofagasta and Glencore led the sector higher with gains of 3.5% each.

Brent crude oil gained 2.3% to $57.26 per barrel.

Convenience retailer McColl's appointed Robbie Bell to the board as chief financial officer after a rigorous search process, causing the shares to retreat 2.2% to 54.7p.

Musical retailer Gear4music plummeted 52% to 245p on a warning that earnings in 2019 will be 'slightly below' the prior year.

Pharmaceutical company Circassia warned it may need 'third-party funding' or a loan facility via partner AstraZeneca to meet a deferred option payment relating to chronic obstructive pulmonary disease Tudorza. Shares in Circassia fell 10.2% to 49.3p.

Electronic components firm TT Electronics sparked 3.5% to 198.7p after non-executive director Michael Baunton acquired £9,900 worth of shares.

Cambria revealed trading in the three months to November had been in line with management expectations despite new car sales falling following regulatory changes. Shares in the car seller accelerated 4.6% to 57p.

Shares in textile rental provider Johnson Service advanced 4.6% to 121.4p as full-year results are expected to meet market expectations thanks to growth continuing in the first half of the year.

Smart home devices specialist LightwaveRF revealed an upbeat first quarter update thanks to a strong performance around Black Friday, triggering a 13.6% share price rally to 8.1p.


Story provided by StockMarketWire.com


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