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FTSE back in the black by the close

Monday, 29th April 2019
The FTSE 100 recovered its poise to trade 0.17% higher by the close at 7,440.66 with the US interest rate decision, trade talks and big corporate releases later this week all in focus.

In the US, trading was off to a decent start with the parent of technology giant Google, Alphabet, poised to release first quarter results. By 4.30pm UK time, the S&P 500 was up 0.1% to 2,942.89.

Online groceries firm Ocado reversed earlier heavier losses after confirming an electrical fault in a battery caused a robot to catch fire leading to a large blaze at its Andover distribution site in February. By the close its shares were down just 0.6%.

LARGE AND MID CAP RISERS AND FALLERS

Miner and commodities trader Ferrexpo jumped 5.1% after it hit back against claims by its former auditor Deloitte that it had delayed an independent review into its charitable donations.

The company also said it had continuing to trade 'strongly'.

Steel producer Evraz slipped 0.2% even as it reported a 12% rise in first-quarter output, led by higher pig iron production.

Pharmaceuticals giant AstraZeneca advanced 0.8% after European regulators offered a positive opinion on a treatment for ovarian cancer.

Car listings site Auto Trader fell 1.7% on revealing that chief executive Trevor Mather would retire at the end of March next year, to be replaced by current chief financial officer Nathan Coe.

SMALL CAP RISERS AND FALLERS

Consumer goods supplier UP Global Sourcing, also known as Ultimate Products, rallied 9%, as it posted a 48% rise in first-half profit owing to higher sales and steady margins.

Self-storage group Lok'nStore firmed 1% after its first-half profit rose by a fifth and it hiked its dividend.

Safety company investor Marlowe added 3.6% on announcing that it expected its adjusted operating earnings for the full to be 'slightly ahead' of market expectations.

Obesity, high cholesterol and diabetes treatment developer OptiBiotix Health shed 2.8% after it swung to a full-year loss, as spending offset rising sales and it benefited from an asset sale in the previous year.

Specialist services and engineering company TP Group gained 2.6% on news that it had won a £16.9m contract from a 'leading US defence company' to provide advanced packaged equipment.


Story provided by StockMarketWire.com


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