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Sterling retreat helps lift FTSE back above 7,200

Thursday, 14th March 2019
The FTSE 100 was up 0.7% to 7,209.15 by midday as sterling retreated from recent highs amid ongoing uncertainty over Brexit despite last night's no deal vote in the House of Commons.

Elsewhere news a meeting between the leaders of the US and China, to tackle the trade tensions between the two countries, has been pushed back to April hit market sentiment.

US futures markets were pointing to a lower open on Wall Street and European markets surrendered earlier gains to trade roughly flat.

LARGE AND MID CAP RISERS AND FALLERS

Cineworld jumped 6.87% after it said pre-tax profits more than doubled led by strong performance in its US business as a record number of moviegoers flocked to its theatres to watch box office hits.

Outsourcing group Capita added 2.7% to 123p after it reported profits slightly ahead of guidance after completing the first year of its three-year turnaround strategy.

International property agent Savills slid 4.4% to 883p, paring earlier heavier losses, as it said it expected to see declining transaction volumes in some markets this year in line with global uncertainties even as it reported revenue growth for full-year 2018.

Pensions provider Just Group dived 11.2% after it scrapped its dividend for the year and laid out plans to raise funds to shore up its balance sheet despite reporting operating profits rose by nearly a third.

Specialist landscape products group Marshalls added 1.7% as it posted an increase in 2018 revenue and pre-tax profit on Thursday as strong second-half growth offset the impact of severe weather in the first four months of the year.

DFS Furniture lost 1.3% to 232.5p even as it said it more than doubled profits in the first five months of its fiscal year as growth in its online channel helped offset the doom and gloom on the high street, which the retailer warned would continue into 2019. SMALL CAP RISERS AND FALLERS

Debenhams jumped 3.4% after it said it would carefully consider Sports Direct's offer to provide the company with an interest-free 12-month loan of £150m in exchange for a further 5% stake as it required the consent of its creditors.

Brooks Macdonald Group edged 0.8% higher to £16 despite saying that funds under management slipped as investment performance took a hit from choppy market conditions in December last year.

Story provided by StockMarketWire.com


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