Disappointing Chinese trade figures were not sufficient to dim investors' sunny outlook with the FTSE 100 up 0.4% to 6,823.21. It is now up nearly 3% since governor of the Bank of England Mark Carney announced an rate cut to 0.25% and a significant stimulus package.
Among the blue chips, drugs firm Shire (SHP) is down 0.4% to £51.25 as it posts in-line interims with total reported product sales up 36% to $3.9 billion. The shares had been very strong heading into this announcement.
Italy and North Africa focused E&P Sound Energy (SOU:AIM) gains 10.5% to 66p as it announces excellent results from its Tendrara block in Morocco. A flow rate of 17 million cubic feet per day is seven times pre-drill expectations.
Rising occupancy and higher prices as well as lower costs saw self-storage company Lok’nStore’s (LOK:AIM) like-for-like revenues improve 5.2% in the year to 31 July. The shares moved 1.1% higher to 325p on the update.
Internet-of-things specialist Telit Communications (TCM:AIM) climbs 3.1% to 268.1p on expectations of a stronger second half after sales grew 6.3% to $166.1 million in the six months to 30 June. Delays in securing approval in the US for some of its products were behind the muted first half performance but double digit revenue growth is expected for the full year.
Software-as-a-service provider LoopUp intends to float on AIM in August.