Source - SMW
Shares in London began Monday on a positive note with both blue chips and mid caps making early progress, shrugging off sterling gains on the dollar and euro and being helped by rises among oil majors.

Not too long after the open, the FTSE 100 was up 49.01 points, or 0.66%, to 7473.14, while the FTSE 250 was up 93.4, or 0.47%, to 19,778.5. Other indices in Europe were rising, too.

Blue-chip risers were led by Associated British Foods (ABF), up 1.43% to 2974p, with Reckitt Benckiser (RB.) adding 1.36% to 7963p and Barclays (BARC) up 1.29% to 200.1p.

Gains of around 1.3% in WTI and Brent crude prices helped oil majors. Shell (RDSA) added 0.88% to 2084.75p, while BP (BP.) firmed 0.6% to 459.1p. 

Other sectors rising included commercial and residential property, as well as insurers and banks. Miners were also on the front foot, albeit scattered throughout the FTSE 100 winners' list.

To the downside, Provident Financial (PFG) led with a 3.36% slide to 2358p, and was followed by Rolls-Royce (RR.), down 0.9% to 933.5p. Several utilities were also down.

BIGGER MOVERS

Minoan Group (MIN), up 26.47% to 10.75p, said the appeals against the Presidential Decree granting land use approval for its Itanos Gaia project in Crete have been dismissed.

Management Resource Solutions (MRS) , down 28.13% to 2.88p, has provided details of a claim received from the Joint Voluntary Liquidators (JVLs) of MRS Guernsey Ltd, which is a subsidiary of the company that is in voluntary liquidation.

Empyrean Energy (EME), up 22% to 7.63p, said it had been advised by Conrad Petroleum, the operator of the Duyung PSC in the Natuna Basin Offshore Indonesia, that the Mako South-1 well had reached its planned total depth and that coring and logging had been completed and testing was under way.

LONDON HIGHLIGHTS

88 Energy (88E) fell 18.86% to 2.77p after stating it continues to monitor pressure and flowback of stimulation fluid from Icewine #2, whilst waiting for hydrocarbons to be released from the reservoir. 

Windar Photonics (WPHO) rose 16.79% to 80p after announcing a new order for 5 WindEYE sensors from a Mexican IPP.

Warpaint London (W7L), down 12.37% to 212.5p, continued to trade in line with expectations. So far in 2017, it had seen encouraging growth across all its sales territories worldwide, apart from Europe where sales remained similar to the corresponding period in 2016.

EnQuest (ENQ), up 10.615 to 32.63p, has confirmed that first oil from the Kraken development was delivered on 23 June.  

Michelmersh Brick (MBH), up 8.33% to 78p, has acquired the entire issued share capital of Carlton Main Brickworks Ltd for a net consideration of £31.2m. The acquisition was expected to be significantly earnings enhancing for the group.

Transense Technologies (TRT), up 3.82% to 68p, said Translogik, its trading division providing tyre management solutions, has won a further contract to supply iTrack II mining tyre monitoring systems for large haul trucks to Glencore Mining.

LPA Group (LPA), down 6.8% to 137p, said its revenues rose 3.1% to £10.81m in the six months to the end of March, and pre-tax profits increased to £976,000  from £782,000. It declared an interim dividend of 1.05p per share, up 5%.

Surgical Innovations Group (SUN), up 4.83% to 3.8p, said its trading performance for the current financial year to date is in line with directors' expectations.  

Othre stocks in the news included Quantum Pharma (QP.), Hornby (HRN), Avingtrans (AVG), WANdisco (WAND), Bagir (BAGR), Inland Homes (INL), Amec Foster Wheeler (AMFW), Alfa Financial Software Holdings (ALFA), Scancell Holdings (SCLP), Edenville Energy (EDL), Victoria Oil & Gas (VOG), Fusionex (FXI), Pan African Resources (PAF), Hansteen Holdings (HSTN), Spectra Systems (SPSY), Victoria Plc (VCP), Savannah Resources (SAV) and Ultra Electronics (ULE).