UK stocks opened flat in thin trading with little corporate news to influence prices.
There was a sharp fall in sterling overnight however, sending the currency back to $1.29 or below its level ahead of the general election.
The FTSE 100 index of leading stocks was almost unchanged at 7,621 with few obvious sector gainers or losers. The FTSE 250 index of mid-cap stocks was also unchanged at 21,831
The biggest loser on the FTSE 100 was clinic operator NMC Health (NMC) which gave up 7.5% to £16.46 after chalking up a 35% gain yesterday. The company’s shares continue to see-saw as it fights off negative claims regarding its balance sheet and financing from a US short-seller.
Ellison is expected to generate $58m or £44m of revenues and earnings before interest, taxes, depreciation and amortisation (EBITDA) of £12m or £9m this year. Bodycote shares climbed 1.7% to 963p.
When complete the plant will process 300,000 of waste diverted from landfill per year and generate around 29MW of renewable energy. Shares added 0.4% to 378p.
Despite the positive news, Pendragon shares traded sideways at 12.7p.