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UK stocks open 0.4% higher, led by miners

Tuesday, 28th May 2019
UK stocks opened higher on Tuesday, led by mining stocks, following the exchange's closure on Monday for a public holiday.

At 0858, the FTSE 100 was up 29.29 points, or 0.4%, at 7.306.92.

Rio Tinto and Antofagasta lead miners higher, with gains of 3.4% and 1.7%, respectively.

Construction company Galliford Try rose 6.2% after it confirmed that it had rejected a £950m offer for its home building business from Bovis Homes.

Sports Direct added 0.6% on confirming that it had agreed to sell a logistics centre in Shirebrook to Kwasa Logix Sportivo for £120.1m and lease it back.

NMC Healthcare rallied 4.7% as it sealed a planned joint venture in Saudi Arabia and upgraded its annual revenue and earnings guidance as a result.

International distribution and services group Bunzl added 1.5% on news that it had appointed current Galliford Try chairman Peter Ventress as its new chairman-elect.

Guarantor loans provider Amigo gained 2.8% after it booked a large rise in annual profits underpinned by growth in its loan book.

Sub-prime lender Provident Financial gained 1.4% as it confirmed that investor M&G, which held a 1.7% stake in the company, had decided not to accept Non-Standard Financial's hostile takeover bid.

Non-Standard Financial shares rose 0.7%.

Marketing group Albert Technologies slumped 38% as it warned that its revenues were unlikely to meet expectations following a slower-than-anticipated start to the year. Indutrial product supplier Renold jumped 9.5% after it booked a rise in annual profit, driven by strength in its chains division.

One Media iP gained 5.5% on news that it had acquired the writer's share of a number of songs written by US country singer Cole Taylor for $260k.


Story provided by StockMarketWire.com


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