The FTSE 100 creeps higher this morning ahead of the key US non-farm payrolls release and after a suspected 'flash crash' saw the pound fall 6% overnight.

Miners provide much of the support for the index as the market prices in a greater value in sterling for their dollar-denominated revenue. Budget airline EasyJet (EZJ) remains under pressure after yesterday's weak trading update.

Packaging firm DS Smith (SMDS) is up 4.4% to 415.9p as Barclays initiates with an 'overweight' rating and 465p price target.

In a quiet day for corporate news, a few names further down the market cap spectrum stand out, some for the right, and some for the wrong reasons. Industrial services firm Brammer (BRAM) falls 47.5% to 66.5p as it announces plans for a £100m right issue, flags a loss for 2016 and cancels plans for a full year dividend.

Medical testing kit maker EKF Diagnostics (EKF:AIM) gains 22% to 18p as a third quarter update includes guidance for full year numbers ahead of expectations. We flagged the potential for earnings upgrades here.

Power supply specialist XP Power (XPP) is up 2.6% to £17.05 as it reports 'encouraging' momentum in order intake with North American markets returning to growth in an otherwise in line third quarter update.

Small cap UK energy play Cluff Natural Resources (CLNR:AIM) falls 16.3% to 4.1p on news a North Sea oil and gas licence it was seeking to acquire will have to be relinquished by the current owner after the Oil & Gas Authority refused to grant an extension to its initial term.

Micro cap software firm Defenx (DFX:AIM) falls 7.6% to 91.5p as investors price in the dilution from a £1.52 million placing. The funds will be used to speed up product development.

More to follow


Issue Date: 07 Oct 2016