Source - SMW
UK stocks started the week on a bright note following advances on Asian exchanges, with mining companies leading substantial Monday morning gains.

At 0831, the benchmark FTSE 100 index was up 65.4 points, or 0.9%, at 7.182.55.

Mining titans Antofagasta, Glencore and BHP rose 2.6%, 2.2% and 1.4%, respectively.

Facilities management company Mitie climbed 3.2% to 164.1p on the back of news that it had agreed to sell its catering and hospitality business to CH&CO for up to £85m.

Sale proceeds would be used to strengthen Mitie's balance sheet and trim debt.

Storage company Safestore gained 1.4% to 630.5p after announcing that it had formed a joint venture with Carlyle European Real Estate Fund to acquire Dutch group M3 Self Storage.

Safestore would buy a 20% equity stake for around €5m and provide management services to the venture.

Data analytics company Ixico jumped 27% to 43.26p as it forecast full-year revenue and earnings 'materially' ahead of market expectations.

Alternative fuels developer Quadrise Fuels International sank 15% to 3.37p after it revealed that it was in advanced talks with a potential funding provider, sparking concerns of a dilutionary equity raising.

AfriTin Mining advanced 5.7% to 3.7p on heralding the first production of tin concentrate at its flagship Uis mine in Namibia.

Mineral processing group Tri-Star Resources jumped 13% to 40.5p as commercial-grade production commenced at an antimony-gold processing facility in Oman, of which it held a 40% stake.

Immunotherapy-based cancer treatment developer Scancell fell 3.5% to 7p after it withdrew a delayed regulatory application in the US to allow the UK arm of a clinical trial to proceed.

Antibiotics developer Motif Bio rallied 8.7% to 2.5p on revealing that it was planning to combat Listeria infections.

Related Charts

Antofagasta (ANTO)

0.00 (0.00%)
delayed 18:28PM

Glencore (GLEN)

0.00 (0.00%)
delayed 18:45PM

IXICO (IXI)

0.00 (0.00%)
delayed 16:57PM

MITIE Group (MTO)

0.00 (0.00%)
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Safestore Holdings (SAFE)

0.00 (0.00%)
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