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FTSE falters after weak UK growth figures

Monday, 11th February 2019
The FTSE 100 gave back some of its gains by lunchtime after a report which showed UK GDP fell in December. At midday the index was up 0.4% to 7,099.12 having earlier been as much as 1% higher.

LARGE AND MID CAP RISERS AND FALLERS

Takeaways platform Just Eat gained 2% to 718.2p as hedge fund Cat Rock Capital, a 1.7% shareholder in the group, called for the company to enter merger talks with an industry peer.

Mike Ashley's Sports Direct dipped 0.1% to 270.1p as it apparently cans a bid (made on Friday night) for collapsed cafe chain Patisserie (CAKE).

Gold miner Acacia Mining ticked up 0.9% to 194p, despite swinging to an annual profit, as it forecast a broadly flat production performance in 2019.

Polymetal International rose 0.5% to 850.4p after it gave a green light to its Pox-2 gold project in Russia following completion of a feasibility study.

SMALL CAP RISERS AND FALLERS

Consumer goods group UP Global Sourcing, also known as Ultimate Products, rallied 10.3% as it forecast annual earnings ahead of current market expectations thanks to a jump in sales.

Self-storage group Lok'nStore climbed 5.7% as it boosted its first-half revenue by 7.7%.

Residential property developer Telford Homes rose 1.8% after it exchanged contracts to acquire a site in Stratford, London for £20.0m.

OptiBiotix Health gained 3.7% to 86.5p after subsidiary ProBiotix Health appointed EIWA Trading as the exclusive distributor of its cholesterol and blood pressure-reducing probiotic product in Japan.

Gambling group Stride Gaming sparked 6.3% higher to 110p on revealing that it was considering strategic options, including a potential sale of the company.


Story provided by StockMarketWire.com


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