London’s FTSE 100 finished Friday’s trading session just 0.07% higher at 7,029.2 points after US markets turned lower on a PPI inflation reading of 8.3%, which highlighted the risk of inflation-driven monetary tightening.

Worries over the spread of the delta variant and weaker than expected UK GDP growth also weighed on sentiment, with the more domestically-focused FTSE 250 ended 0.28% lower at 23,733.56.

Growth of 0.1% in July compared to a consensus estimate of 0.6%, inhibited by the proliferation of the Delta variant that prevented many workers from being able to participate in the labour market.

Significantly the largest sector of the British economy, the services sector was flat while Industrial output increased by 1.2%.

COMPANY NEWS

Cinema operator Cineworld (CINE) cheapened 1.1% to 62p after announcing that it will pay a sum of $170m to dissenting shareholders of Regal Entertainment.

Shares in Fulham Shore (FUL:AIM), operator of the Franco Manca and The Real Greek restaurant chains, gained 3.3% to 18.75p after the company said revenue growth had accelerated in recent weeks.

Over the three weeks to 5 September group revenues increased 27% compared with the same period in 2019, despite the drag from 17 city centre locations where trading is still below pre-pandemic levels.

Shares in precision measurement specialist Spectris (SXS) rose 1% to £40.44 after the group said that it is starting the final tranche of its share repurchase programme for a maximum amount of £200 million.

European logistics property investor Tritax EuroBox (EBOX) fell 1.9% to 112.8p as it announced a £170 million placing and a new development in Germany.

The company revealed a deal to acquire land for the development of a new high specification and sustainable logistics asset in Oberhausen, a location in the Rhine-Ruhr region of Germany.

Separately, Tritax announced plans for a £170 million placing at 111.5p per share to secure the acquisition of a near-term investment pipeline of around €520 million of prime big box logistics assets in key locations in Continental Europe.

OTHER MOVERS

Pharmaceutical services company Clinigen (CLIN:AIM) sparked up 7.5% to 709p on the revelation feared US activist investor Elliott has taken a 5.2% stake in the business.

Buy-and-build quarried materials company SigmaRoc (SRC:AIM) gained 2.3% to trade at 113p after it announced a collaboration with paving slabs-to-bollards maker Marshalls (MSLH) to develop ultra-low carbon products for the concrete building materials sector.

Air quality solution specialist Volution (FAN) has completed the acquisition of heat exchanger cells manufacturer  Energy Recovery Industries for a consideration of Euro 23.4 million. The shares softened 1.1% to 545p.

A list of FTSE 100 index movers can be seen HERE

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Issue Date: 10 Sep 2021