The FTSE 100 posts a modest gain of 2.4 points to 7,322.07 as a breakthrough has been made on Brexit negotiations. Overnight the European Commission decided that enough progress had been made to allow trade negotiations to begin. The market will also closely be watching the monthly industrial production figures due out today.
Amid corporate news, housebuilder Berkeley (BKG) gains 5.1% to £40.42 after posting strong first half results to 31 October. The company’s pre-tax profit is up 35.8% to £533.3m and revenue up 13.7% to £1.6bn both a year-on-year basis.
Infrastructure company John Laing (JLG) advances 1.4% to 270.7p on releasing a statement saying its total investments of £340m are well ahead of its guidance for 2017. Total realisations are also ahead of original guidance at £256m.
Specialist filtration and environmental tech company Porvair (PRV) rises 7.8% to 485p after revealing that earnings for the year will be ahead of management’s previous expectations. Its revenue growth for its year ending 30 November is 6%.
On the AIM market, European real estate investor Globalworth Real Estate Investments (GWI:AIM) ticks up 1.7% to 8.85p after raising €340m in a share placing. The company will use the proceeds to fund investments in both Poland and Romania.
Pharmaceutical company Angle (AGL:AIM) gains 6.3% to 50.5p on news that its less invasive liquid biopsy may be approved to test for breast cancer. The company is now working for FDA clearance of the technique, called the Parsortix system, by 30 June 2018.