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UK stocks hold on to gains by midday as investors await big news

Monday, 18th March 2019
With interest rate decisions on both sides of the Atlantic and further ructions on Brexit expected later this week, investors take advantage of a brief moment of calm as the FTSE 100 trades 0.6% higher at 7,271.09.

In corporate news, payment processing firm WorldPay gained 10.3% to £81.70 as it agreed to a $43bn sale to US rival FIS.

LARGE AND MID CAP RISERS AND FALLERS

Shoe retailer Footasylum jumped 75% after it agreed to be acquired by JD Sports for about £90.1m. JD Sports shares dipped 0.4%.

Pharma giant Astrazeneca gained 0.6% as its potential new treatment for lung disease was granted orphan drug designation by US regulators.

Domino's Pizza rose 3.1% to 238p as it played down reports of a dispute with its franchisees.

Services supplier Serco gained 1.2%, having won a contract from the government of South Australia state to operate and manage a remand centre for its department of correctional services.

SMALL CAP RISERS AND FALLERS

Advertising grandee Martin Sorrel's newly-formed public relations company S4 Capital gained 2.9% to 127.1p, despite booking a loss, as its underlying earnings improved.

Office services provider Restore rallied 8.7% to 289.2p after its annual profit more than doubled, supported by strong sales at its document management business.

Russian warehouse property investor Raven Property advanced 0.2% to 42.9p as it swung to an annual loss, pinned on adverse currency movements..

Electronic systems developer PipeHawk gained 2.4% to 5.07p despite posting a first-half loss owing to higher staff costs and other expenses.


Story provided by StockMarketWire.com


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