Shares in London move higher in start of the week trading on Monday, hoping to shrug-off last week's modest performance, as key indices are driven by leisure-linked, pharmas and property stocks, although the resources space continues to act as a drag.
The FTSE 100 index rallies around 40 points, or about 0.6%, to 6,1664.
Disappointing Chinese trade data takes the shine off the mining sector with metal producers dominating the fallers on the UK stock market. Evraz (EVR), Kaz Minerals (KAZ), Anglo American (AAL) and Glencore (GLEN) all see their prices fall by more than 5%.
Takeover speculation lifts graphics chips designer Imagination Technologies (IMG) after Chinese fund Tsinghua Unigroup bought a 3% stake in the Hertfordshire-based company. The Chinese group is effectively a state-owned technology fund with ambitions to become one of the world's biggest chips makers. Imagination is in the middle of a strategic review and restructuring as it looks to slash it costs and, as SHARES has previously stated, looks ripe for a takeover.
Outsourcer G4S (GFS) surges 7.0% to 197p as its strategy to refocus on higher margin work pays off in the first quarter of 2016. Revenue from continuing businesses gained 4.5% in the period and new contracts totalling £950 million were signed.
Bakery food-on-the-go retailer Greggs (GRG) gains 3.4% at £11.04 as CEO Roger Whiteside reports a good start to 2016, like-for-like sales up 3.7% in the 18 weeks to 7 May, with an extended breakfast menu, hot sandwiches and healthier products driving growth. Greggs, whose first stand-alone store in Northern Ireland is trading well, issues a confident outlook, flagging 'a strong pipeline of product initiatives and plans to invest in our shops and supply chain'.
Funeral services provider Dignity (DTY) dips 22p to £24.83 as first quarter sales and operating profits come in lower year-on-year. Yet this performance comes as no surprise, Dignity having already highlighted the abnormally high number of deaths seen in 2015, an unprecedented increase now reversing in 2016. CEO Mike McCollum assures full-year expectations remain unchanged and it is also worth noting Dignity's first quarter operating performance was still well ahead of the comparable quarter in 2014.
Despite an eventful morning at Russia focused events firm ITE (ITE) the shares are broadly flat. Mark Shashoua is set to become chief executive, taking over from Russell Taylor when he stands down on 1 September, interims are in line and full year guidance is maintained but the first half dividend is cut from 2.5p to 1.5p as the group looks to restore its balance sheet.