Ongoing strength in the mining sector helps the FTSE 100 extend yesterday's gains. In early trading the index is up 0.36% at 7,347.92

Retirement housebuilder McCarthy & Stone (MCS) is down 5.1% to 175.5p as it blames Brexit vote linked uncertainty for a 42% drop in underlying first half profit.

Its non-prime London peer Telford Homes (TEF:AIM) is much more positive in a pre-close trading update which reveals it will post record revenue and profit for the year to 31 March, slightly ahead of expectations.

The company also says its on track to post pre-tax profit in excess of £40m in its March 2018 financial year. It rises 2.3% to 368p in response.

Staying in the sector Bovis Homes (BVS) walks away from merger talks with peer Galliford Try (GFRD) and appoints ex-Galliford boss Greg Fitzgerald as its new chief executive. Bovis gains 2.8% to 870.5p, Galliford is up 0.8% to £14.74.

Technology portfolio Allied Minds (ALM) dives 16.3% to 218.5p as it reveals it will discontinue funding to seven subsidiaries as part of a restructuring. Shares said to exit at 372.1p after the departure of chief executive and founder Chris Silva in March.

Bowling alley operator Hollywood Bowl (BOWL) gains 2% to 169.3p as it points to first half revenue up 7.8% and like-for-like growth of 1.2% despite a 2% hit to the like-for-like number from the timing of Easter.

Distributor DCC (DCC) gains 1.4% to £71.15 as it announces a £120m to acquire Royal Dutch Shell's (RDSB) liquefied petroleum gas business in Hong Kong and Macau.

Hydrocarbons producer Premier Oil (PMO) gains 2.8% to 62.4p as it announces the $65m sale of its non-core Pakistan assets. The cash injection will help reduce the pressure on a strained balance sheet.

 

 

 

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Issue Date: 05 Apr 2017