Source - SMW
London shares sortied higher in early deals as traders continued to factor in the benefits of a lower sterling to the export-heavy FTSE. 

Sterling has dived lower since Prime Minister Theresa May said she would enact Article 50 of the Lisbon Treat by end-March 2017, thus enabling Brexit to happen.

Soon after the open, FTSE 100 was up 68.63 points, or 0.98%, to 7052.15, while FTSE 250 was ahead 203.22, or 1.12%, to 18,386.7.

Pearson (PSON) led the way with a 4.62% rise to 798.25p, and was chased by Intertek (ITRK), up 4.38% to 3697p. Thereafter came financials, among them bank, insurers and investors.

Standard Chartered (STAN) added 2.77% to 651.75p, while Schroders (SDR) gained 2.09% to 2828p and Prudential (PRU) firmed 1.77% to 1419.75p. Their sector pals followed, too.

Almost 90 blue chips were on the front foot, with about 54 of these gaining by 1% or more. All sectors figured among the risers. 

To the downside, Randgold (RRS), off 0.93% to 7717.5p, and Fresnillo (FRES), lower 0.3% to 1821.5p, were prominent. So, too, were supermarkets Marks & Spencer (MKS), Morrisons (MRW) and Tesco (TSCO), which shed 0.5%-0.15%.

AstraZeneca (AZN), down 0.89% to 4996.25p, has entered into an agreement with Aralez Pharmaceuticals Trading DAC, and separately that it is disappointed with the top-line results from the Brilinta EUCLID study.

Meantime, if May enacts Article 50 by end March 2017 -- following June's non-binding referendum with a narrow margin in favour of Brexit -- the UK will leave the EU by mid 2019.

BIGGER MOVERS

Quantum Pharma (QP.), down 45.36% to 38.25p, said its H1 pretax profit has sunk to £0.8m, from a profit of £2.8m. Revenue was £42.8m, from £34.3m.

Digital Globe Services (DGS), down 17.39% to 38p, reports record revenues for the year to the end of June.

LONDON HIGHLIGHTS

Stanley Gibbons (SGI), down 8.99% to 10.13p, has appointed Louis Castro as an independent non-executive director of the company, and chairman designate of the Audit Committee, with immediate effect.

Jaguar Holdings and Journey Group (JNY), up 8.71% to 231p, have confirmed they are in talks over a possible offer by Jaguar for Journey. Empyrean Energy (EME), up 9.52% to 8.63p, is to seek approval to return 7.9p per share trough the issue of one B share for each ordinary share.

Milestone (MSG), up 7.5% to 1.08p, has announced the signing of a cooperation agreement with the Social Stock Exchange specifically aimed at generating revenues, building membership and raising the profile of both organisations.

Venn Life Sciences (VENN), up 6.21% to 23.5p, said subsidiary Venn Life Sciences Ltd has entered into a conditional agreement under which it and Lynchwood Nominees Ltd, as custodian for the Helium Rising Stars Fund, would sell the entire issued share capital of Innovenn UK Ltd for a total of up to £4.74m.

Volga Gas (VGAS), up 4.17% to 50p, said average group production for the September 2016 was 7927 barrels of oil equivalent per day, up 11.9% on August. This was highest monthly production rate achieved in 2016.

SCS Group (SCS), up 3.8% to 191p, has swung to a FY pretax profit of £10.9m, from a loss of £1.7m. Revenue was £317.3m, from £276.7m. It recommended a final dividend of 9.83p a share, taking the FY payment to 14.5p a share, up 3.6% from 14.0p.

Wizz Air (WIZZ), up 3.29% to 1711.5p, has lifted its passenger numbers in September by 17.9% to 2.14m, from 1.8m a year earlier. Capacity was up 17.0% to 2.33m, from 1.99m, and load factor was up 0.7ppts to 91.6%, from 90.9%.

Other stocks in the news included Greggs (GRG), easyHotel (EZH), Carillion (CLLN), Gresham Computing (GHT), Vela (VELA), Custodian REIT (CREI), Watkin Jones (WJG), AB Dynamics (ABDP), Oracle Coalfields (ORCP), Etalon (ETLN), Ryanair (RYA), Bluefield Solar Income Fund (BSIF) and Revolution Bars (RBG).




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