Philip Waller Sharecast | 06 Oct, 2014 16:25 - Updated: 17:29 | | |
Upbeat news from the UK supermarket sector and falling oil prices put London shares on an upward path on Monday.
Beleaguered retailer Tesco cheered long-suffering investors with news that it was appointing the boss of catering group Compass, Richard Cousins, and the former chief of furniture giant IKEA, Mikael Ohlsson, as non-executive directors in November.
Shares in Tesco, which is tussling with the fallout from accounting problems that forced it to revise a profit forecast, lifted 4.6p to 176.75p. Rival Morrisons, which has also been feeling the pinch from cut-price competitors, gained 2.6p to 160.4p and Sainsbury's climbed 3.7p to 231.1p.
The price of a barrel of US light crude fell below $90 a barrel as international tensions eased, spelling good news for airlines.
Budget carrier Easyjet flew 8p higher to 1467p and British Airways and Iberia owner IAG rose 6.1p to 371.3p.
The FTSE 100 Index closed 35.74 points up at 6563.65 as investors shrugged off worse-than-expected German factory data.
CMC Markets analyst Jasper Lawler said: “Should German industrial data be poor tomorrow, there will be extra weight on the downside.”
Gas explorer BG Group inflated 27p to 1093p after saying it had received a windfall of $350m from Egypt as part of a government drive to pay outstanding debts to the energy industry.
Miners were on the up despite falling gold prices, with Antofagasta 26p ahead at 706.5p, Fresnillo advancing 25.5p to 745.5p and Anglo American progressing 33.5p to 1348p.
Royal Mail failed to benefit from announcing a special offer on its parcel service in the run-up to Christmas, posting a 2.5p fall to 392.1p.
And oil stocks were on the slide as crude prices fell, with Royal Dutch Shell leaking 11.5p to 2372p and Petrofac slipping 13p to 982.5p.
Elsewhere, sausage maker Cranswick cooled 36p to 1289p after reporting a flat first half, although it said sales were likely to improve in the third quarter as Christmas approaches.
techMARK 2,793.02 +0.12%
FTSE 100 6,563.65 +0.55%
FTSE 250 15,277.01 +0.31%
FTSE 100 - Risers
Antofagasta (ANTO) 706.50p +3.82%
Fresnillo (FRES) 745.50p +3.54%
Barclays (BARC) 232.30p +3.43%
Tesco (TSCO) 176.75p +2.67%
Anglo American (AAL) 1,348.00p +2.55%
BG Group (BG.) 1,093.00p +2.53%
Old Mutual (OML) 181.20p +2.14%
Carnival (CCL) 2,495.00p +2.09%
Experian (EXPN) 973.50p +2.04%
Glencore (GLEN) 339.35p +2.03%
FTSE 100 - Fallers
Petrofac Ltd. (PFC) 982.50p -1.31%
Royal Mail (RMG) 392.10p -0.63%
United Utilities Group (UU.) 805.00p -0.62%
Legal & General Group (LGEN) 226.80p -0.53%
Next (NXT) 6,615.00p -0.53%
Ashtead Group (AHT) 1,013.00p -0.49%
Royal Dutch Shell 'B' (RDSB) 2,372.00p -0.48%
Aviva (AV.) 517.00p -0.48%
Schroders (SDR) 2,351.00p -0.47%
Shire Plc (SHP) 5,430.00p -0.46%
FTSE 250 - Risers
Hays (HAS) 122.70p +5.87%
Just Retirement Group (JRG) 126.30p +4.99%
Kazakhmys (KAZ) 250.20p +3.39%
Petra Diamonds Ltd.(DI) (PDL) 190.90p +3.19%
BBA Aviation (BBA) 342.00p +3.04%
Ted Baker (TED) 2,000.00p +2.83%
Croda International (CRDA) 2,190.00p +2.58%
Rank Group (RNK) 165.00p +2.48%
Cairn Energy (CNE) 179.90p +2.39%
Playtech (PTEC) 736.00p +2.36%
FTSE 250 - Fallers
Computacenter (CCC) 628.50p -3.01%
Hochschild Mining (HOC) 120.10p -2.99%
Ocado Group (OCDO) 246.30p -2.96%
Cranswick (CWK) 1,289.00p -2.72%
IP Group (IPO) 200.00p -2.53%
TalkTalk Telecom Group (TALK) 283.50p -2.44%
Entertainment One Limited (ETO) 305.30p -2.30%
African Barrick Gold (ABG) 202.00p -2.08%
Evraz (EVR) 114.00p -2.06%
Foxtons Group (FOXT) 223.00p -1.72%
FTSE TechMARK - Risers
NCC Group (NCC) 190.75p +3.11%
Optos (OPTS) 202.25p +2.67%
Kofax Limited (DI) (KFX) 489.25p +1.98%
Phoenix IT Group (PNX) 115.00p +1.32%
XP Power Ltd. (DI) (XPP) 1,526.00p +1.06%
Sepura (SEPU) 142.00p +0.71%
Filtronic (FTC) 20.25p +0.62%
Vectura Group (VEC) 129.75p +0.58%
Dialight (DIA) 925.00p +0.54%
RM (RM.) 148.50p +0.34%
FTSE TechMARK - Fallers
Gresham Computing (GHT) 102.00p -4.23%
Innovation Group (TIG) 28.00p -2.61%
Torotrak (TRK) 16.62p -2.21%
KCOM Group (KCOM) 94.00p -2.08%
Anite (AIE) 83.50p -1.47%
Promethean World (PRW) 30.50p -1.21%
CML Microsystems (CML) 307.50p -0.81%
BATM Advanced Communications Ltd. (BVC) 16.12p -0.77%
Skyepharma (SKP) 316.75p -0.63%
Consort Medical (CSRT) 947.50p -0.58%
Stocks in London passed through a relatively quiet Thursday, with numerous ex-dividend equities, a stronger sterling and Brexit worries combining to dampen progress heading into the end of the first quarter.
Cyclicals were clearly in favour heading into the end of the first quarter, on the back of positive analyst chatter out of some of the top brokers in the world and as prices for most key industrial metals reversed their losses seen in overnight trading.
Petra Diamonds shone brightly on the FTSE 250 on Thursday with shares in the company up 9% as it announced a $600m notes issue and refinancing package.
UK national growth figures for the fourth quarter of last year will be the main economic data event on Friday, along with details on the current account and the index of services and house price data from Nationwide.
15:52 Small cap news round-up
Insurance premium finance-focussed finance group Orchard Funding Group announced its unaudited results for the six months to 31 January on Thursday, with the board reporting it lent £31.1m for the period.
The Bank of England is pondering using palm oil in the production of the new £20 note following criticism from vegans and religious groups after the revamped £5 note was found to contain traces of animal fat.
International Public Partnerships posted its full-year results for the 12 months to 31 December on Thursday, reporting net asset value growth of 24.3% to £1.6bn.
Bank of America Merrill Lynch upgraded Morrison to ‘buy’ from ‘underperform’ and lifted the price target to 275p from 220p.
Thomas Cook’s winter programme is closing out as expected although it is seeing some margin pressure in parts of the business due to increased competition.
A key measure of the US jobs market improved slightly during the latest reference week, but still overshot economists' forecasts.