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FTSE boosted by stronger miners

Tuesday, 26th March 2019
Rising miners helped offset the impact of stronger sterling on the FTSE 100, which closed 0.2% higher at 7,196.

Brent crude oil rose 0.9% to $67.84 per barrel.

Wall Street bounced back from a weaker performance on Monday with the tech-heavy Nasdaq enjoying a gain of 0.6% at 7,680 at around 4:45pm UK time.

LARGE CAP RISERS AND FALLERS

Shares in cruise operator Carnival fell 8.4% to £38 after it cut its annual profit forecasts, blaming higher fuel costs and adverse currency movements.

Online grocery company Ocado gained 4.1% to £13.07 after it revealed a new partnership deal for its delivery technology platform, this time with Australian grocery chain Coles.

Water infrastructure group United Utilities was flat at 839p after announcing it expected to report a rise in annual revenue and underlying profit.

Premium carbonated drinks supplier Fevertree gained 6.2% to £27 on a 36% rise in annual profit, as its margins were pressured by investment in its US expansion.

Drinks maker AG Barr rose 2.3% to 795p despite rising costs contributing to a small fall in its annual profit.

Plumbing group Ferguson plunged 7.1% to £48 on warning that it expected profits toward the lower end of market expectations, as growth moderated in the second half.

House builder Crest Nicholson jumped 5% after it revealed that it had poached Galliford Try head Peter Truscott as its new chief executive. Galliford Try shares fell 2.4%.

Vectura declined 2.2% to 69.6p after operating losses widened from £96.2m to £105.4m in the year to 31 December 2018.

SMALL CAP RISERS AND FALLERS

Michelmersh Brick Holdings gained 2.7% as it almost doubled its annual profit amid a strong housing construction market.

Suit retailer Moss Bros dropped 9.5% to 21.6p as it sunk into the red and scrapped its final dividend, blaming weak demand, rising costs, asset write-downs and intense competition.


Story provided by StockMarketWire.com


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