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FTSE remains in the black amid solid US open

Tuesday, 11th June 2019
The FTSE 100 closed up 0.3% at 7,398.45 as the promise of Chinese infrastructure spending lit up the mining sector.

Germany's DAX enjoyed stronger gains, advancing 1.1%, with the index of leading UK shares somewhat constrained after a strong jobs market report provided sterling with a boost. On Wall Street the S&P 500 was up 0.3% to 2,895.34 by 4.30pm UK time, as US stocks marked multi-week highs.

LARGE AND MID CAP RISERS AND FALLERS

Fashion retailer Ted Baker plunged 30% as it warned on profits amid 'extremely difficult' trading conditions that shrunk sales growth rates.

Supermarket chain Sainsbury's fell 0.4% as it appointed former RBS executive Jim Brown to head up its banking division.

Over 50's services group Saga dipped 2.4% after saying it would partner with Goldman Sachs unit Marcus to offer savings products.

Catering company Compass was flat on news that it had agreed to acquire Sweden's Fazer Food Services for an enterprise value of €475m (£424m).

Bellway Homes reversed 1% as the market reacted tepidly to a 4.7% rise in its sales reservation rate in its financial year to date.

Fellow house builder Crest Nicholson fell 0.5%, despite its first-half profit falling 11%, as the company also stuck to its full-year guidance.

Hazard detection technology company Halma gained 4.1% after it grew its annual profit by a fifth.

Medical technology company Smith & Nephew tracked sideways on announcing that it had agreed to acquire Switzerland-based provider of optical tracking technology Atracsys Sarl, for an undisclosed sum.

SMALL CAP RISERS AND FALLERS

Auto retailer Motorpoint added 1% after it reported a 13% rise in annual profit driven by increased sales across its existing sites, though margins contracted in the second half.

Online fashion retailer Quiz dropped 21.2% after it booked a 97% drop in annual profit and suspended its dividend, as heavy discounting and investment spending took a toll on margins.

Packaging company Mpac firmed 5.3% thanks to it reducing the size of a legacy pension deficit.


Story provided by StockMarketWire.com

Related Shares: Bellway, Halma, Quiz, Saga, Ted Baker

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