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FTSE breaks through 7,500 for first time since October sell-off on Twitter numbers, oil

Tuesday, 23rd April 2019
The FTSE 100 closed up 0.85% at 7,523.07 as higher oil prices lifted dominant constituents BP and Royal Dutch Shell and as a strong corporate update from Twitter helped boost market sentiment.

Airlines traded lower as investors factored in the implications for fuel costs of increased crude oil prices. The US enjoyed a decent open, with the S&P 500 up 0.7% to 2,928.22.

Builders merchant Travis Perkins advanced 2.4% as Bank of America Merrill Lynch upgraded its recommendation on the stock.

LARGE AND MID CAP RISERS AND FALLERS

Thomas Cook jumped 18.3% after a media report said potential takeover bidders were circling the travel company.

British Land shed 0.4% after it exchanged contracts to sell 12 supermarkets from its joint venture with Sainsbury's for £429m to Realty Income Corporation.

Miner and commodities trader Ferrexpo lost 4% after it booked a fall in annual profits, as pellet sales were constrained by reduced shipments towards the end of the year.

SMALL CAP RISERS AND FALLERS

Scottish broadcaster STV Group dropped 1.9%, as it guided for a modest rise in first-quarter advertising revenue of between 1% and 2%.

Keywords Studios rose 1% on news that it had acquired mobile device games developer Wizcorp for JPY 120m (£825k) from Ankama and Silicon Studio Corporation.

Martin Sorrell-backed S4 Capital disputed a media report that stated that its MediaMonks unit was facing a legal battle in Holland.

The matter was a dispute between former shareholders of MediaMonks and any involvement of S4 Capital would only be as a witness, the company added. Its shares reversed 0.9%.

Out-of-hospital services provider Totally surrendered earlier more significant gains to trade 2.7% higher after its subsidiary Vocare won a contract with the NHS Newcastle & Gateshead Clinical Commissioning Group worth up to around £13.5m.

Low-cost African airline Fastjet gained 5.3% as its losses narrowed in the fourth quarter thanks to cost cutting.

Upland Resources jumped 7% on announcing that it had been approached by oil companies interested in investing in its Saouaf prospect in Tunisia.


Story provided by StockMarketWire.com


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