FTSE 100 closes up 0.7% but US stocks are on the back foot
Source - SMW
The pound remained volatile as attention turned from Theresa May's looming exit from Number 10 to the jockeying to replace her.
The FTSE 100 traded 0.65% higher at by the close. The S&P 500, though surrendered its earlier gains to trade a handful of points lower, effectively building on yesterday's big losses.
LARGE AND MID CAP RISERS AND FALLERS
Events and business information company Informa gained 2.5% as it reported 'steady trading' in the first four months of the year that put it on track to grow revenue and profits.
Rival company Tarsus jumped 37% after it agreed to be acquired by Private equity firm Charterhouse Funds for £561m in cash.
Instrumentation and controls company Spectris gained 2.6% on reporting a 3% boost in like-for-like sales in the year to date, despite 'an anticipated moderation in certain end markets'.
Train and bus company Stagecoach dipped 0.6% on announcing that it and partners SNCF and Virgin had commenced legal action against the UK government over their exclusion from bidding for a rail franchise opportunity.
Premium carbonated drinks firm Fevertree fell 2.2% after it announced confidence in achieving results that matched expectations in 2019.
The company added that it was 'mindful of last year's exceptional summer trading performance in the UK' assisted by a bout of warm weather.
Power utility National Grid said it remained disappointed with a range of cost-of-equity calculations contained in an update of regulator Ofgem'sprice control review. Its shares advanced 1.3%.
Ofgem on Friday published a detailed update following the RIIO-2 sector specific consultation that concluded in March.
SMALL CAP RISERS AND FALLERS
Parents and young children focused retailer Mothercare rallied 9.3%, despite reporting a deeper annual loss, as it beat its cost cutting targets and slashed its debt pile.
Security services company Westminster gained 12.8% after rising contract revenue helped it narrow its annual losses.
Oil company Aminex gained 4.4% after announcing that chief executive Jay Bhattacherjee had stood down due to health reasons.
Victoria Oil & Gas dropped 2.6% as it booked a full-year loss, after a key customer in Cameroon did not renew a supply agreement, reserves fell and drilling costs rose.
Industrial and property services group Hargreaves Services dipped 5.4% after it sold land at its Blindwells site to housebuilder Bellway.