FTSE rises as Trump touches down in the UK

16:37 12/07/2018
StockMarketWire.com - As Donald Trump began his four-day visit to the UK, the FTSE 100 was on course for a big rise, recovering from a significant sell-off yesterday on trade war fears. By the close the index of leading UK shares was up 0.78% to 7,651.33.

Utility companies were among the top performers with United Utilities rising 1.1% to 734.8p and National Grid adding 1.1% to 859.8p. Banks also fared well as they brushed off the risk of looser ties for the financial industry with the EU in the Brexit white paper published today.


The Dow Jones Industrial Average was on course for its best close in three-and-a-half weeks in early trading although investors will be watching closely any further pronouncements on trade during President Trump's UK stay.


Broadcaster Sky sparked 3.4% higher to £15.45 after Comcast hiked its takeover offer to $26bn.

Oil and gas company Premier Oil reported it is waiting for government approval for the divestment of its Babbage Area and a Pakistan transaction, dragging the shares 1.4% lower to 129.17p.

Household retail goods supplier Dunelm reported flat like-for-like sales in three months to 30 June, but the stock was broadly unmoved at 483.2p.

Discount retailer B&M European Value Retail nudged 2.2% higher to 423.5p after delivering record first quarter results.

Capita announced the disposal of its parking management business ParkingEye and won a six-year contract from the Department for Education's Standards and Testing Agency. Shares in the outsourcer gained 5% to 169.2p.

Computacenter rose 9.6% to £15.06 on news it is expected to beat previous financial expectations for full year trading.

Jet2.com owner Dart Group flew 35.5% higher to £10.01 after revealing pre-tax profit for the year to 31 March 2019 will 'substantially exceed' market expectations.

Online fashion retailer ASOS revealed its sales growth is likely to hit the lower end of its expected range at approximately 25%. The market was disappointed as the stock shed 10.4% to £58.25.


Sofa seller DFS Furniture rose 0.7% to 200p after sales fell 3% in the 23 weeks to 7 July, which it blamed on exceptionally hot weather.

Xaar announced it will invest with US-listed Stratasys in a newly formed company, Xaar 3F to develop 3D printing solutions, pushing the stock 6.24% higher to 255.5p.

AFC Energy rallied 29.8% to 10.8p on its first commercial order in Australia for its hydrogen power generation unit from Southern Oil Refining.

Superyacht maintenance firm GYG warned earnings before interest, tax, depreciation and amortisation is expected to be materially below forecasts at €5m. The stock crashed 46.9% to 70.1p.

Story provided by StockMarketWire.com



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