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Mining rally boosts FTSE 100

Thursday, 21st March 2019
The Bank of England was up 0.4% at 7,323 ahead of the latest Bank of England meeting later today, driven by a mining rally.

Among the top risers were Fresnillo and Antofagasta.

Brent crude oil dipped 0.3% to $68.23 per barrel.

MID AND LARGE RISERS AND FALLERS

Shares in Renishaw fell 11% to £37.40 on a profit warning after flagging a slowdown in demand in Asia for its encoder products and from large end-user manufacturers of consumer electronic products is expected to continue for the rest of the financial year.

Fashion retailer Next revealed online sales surged 14.8% while retail revenue declined 7.3% in the year ending January 2019. Shares in Next fell 1.1% to £51.26.

There was also bad news from Ted Baker after pre-tax profit declined 26.1% to £50.9m in the year to 26 January, causing the shares to shed 4.8% to £16.28.

IG Group said third quarter revenues fell by more than 10% as a regulatory clampdown on derivative products continued to stifle new client growth, pushing the stock 7.6% lower to 506.1p.

Shares in health and environmental tech group Halma were broadly unmoved at £16.70 despite annual adjusted pre-tax profits set to meet market expectations amid strong growth in its US and UK businesses.

SMALL CAP RISERS AND FALLERS

Betting technology specialist Sportech announced sales fell 3.9% to £63.7m and adjusted earnings rose 18.8% to £8m in the year ending 31 December 2018. The stock declined 1.9% to 38.2p.

A profit warning from agricultural supplies group Wynnstay, blaming warm weather and Brexit, caused the share price to plummet 21.4% to 332p.

Story provided by StockMarketWire.com

Related Shares: Halma, Ig Group, Next, Renishaw, Ted Baker

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