The FTSE 100 opens slightly up by 5.39 points as many predict benign trading conditions given the upcoming Easter holiday. The recent heightening of political tensions between Russia and the G7 nations over Syria does not seem to have filtered through to the UK’s main index yet.
JD Sports Fashion (JD.) sees it share price rise by almost 4% tp 422.5 as it releases final results for year ending 28 January 2017. JD Sports revenues are up 31% on a year-on-year basis with profit before tax up a resounding 81% to £238.4m.
Frontera Resources (FRR:AIM) an independent oil and gas exploratory company, is up 13.9% to 0.41p as it files a notice in relation to a large oil discovery in Georgia. The Eldari Formation in Georgia is estimated to have over 1b barrels of oil in place.
Flooring company Victoria (VCP:AIM) sees its share price rise by just over 6% as it releases an update announcing that it expects year end results ending 1 April 2017 to beat market expectations. Analyst Cantor Fitzgerald reiterates its buy recommendation and says that 2017 has been another successful year for the firm.
Mobile security software firm Defenx (DFX:AIM) sees it share price increase by 10.8% to 118.8p as its results for the 2016 year to 31 December shows a 58% increase in revenues on a year-on-year basis. Its operating profits growth is even higher, with an 88% increase on the 2015.
Publishing house Future (FUTR) half year trading update hasn’t excited the market as its share price remains fairly static., with a slight increase of 1.25p to 180.25p. This is despite the firm’s acquisition of Imaging Publishing and taking magazines from Team Rock in January which are trading ‘in line with expectations’.