A combination of weak UK consumer confidence, renewed fears about the Evergrande crisis and fretting about the outlook for interest rates put the FTSE 100 on the back foot on Friday.

By midday the index was down 0.15% to 7,067.88.

Drug maker AstraZeneca (AZN) said its prostate cancer drug in combination with abiraterone developed with MSD, had met the primary goal of a phase 3 trial trial. It shares advanced 2.3% to £88.64.

Shares in online womenswear brand In The Style (ITS:AIM) fell 14% to 168.5p after the company warned increased freight costs, supply chain disruption and an increased product returns rate will impact the group’s profitability.

Facilities management company Mitie (MTO) upgraded its outlook on profit for the full year following a strong start to the year. It was up 2% to 72.3p.

Energy company Cairn Energy (CNE), together with its consortium partner Cheiron Petroleum, said it completed the acquisition of oil and gas assets from Shell in the Western Desert, onshore Egypt, for $323 million. Cairn shares ticked up 0.7% to 180p.

Scientific instrument maker Judges Scientific (JDG:AIM) hiked its dividend after lifting its outlook on annual performance amid an ongoing recovery from the pandemic. It gained 5.1% to £73.60.

Software and services company Gresham Technologies (GHT) gained 1.5% to 170p as it confirmed that its largest customer had signed contracts which renew and materially increase its investment in the company's software and services.

Iodine maker Iofina (IOF:AIM) reported that first-half profit more than doubled as demand for iodine returned amid an ongoing recovery in its customer markets. It ticked up 0.8% to 16.1p.

Touchstone Exploration (TXP:AIM) gained 26.6% to 106.3p as it said the Royston-1 exploration well in Trinidad and Tobago, delivered better-than-expected drilling results after encountering 'substantial' hydrocarbon accumulations.


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Issue Date: 24 Sep 2021