The FTSE 100 is up 30 points to 7,255.77 following a strong performance on Wall Street overnight. It appears that fears of geopolitical fallout over Syrian airstrikes have subsided and all eyes will be on the UK’s consumer price index data due out later today.

Shopping centre investor Hammerson (HMSO) gains 2.3% to 505p after pulling out of a deal to purchase rival shopping centre operator Intu Properties (INTU). The shelved £3.4bn deal has led to shares in Intu falling 5.9% to 196.15p

Home builder Countryside Properties (CSP) picks up 1.4% to 364.8p on news that its completions are up 15% to 1,655 units on the prior year. Its half year results to 31 March also show that the company has moved from a £35m net debt position at the same time last year, to net cash of £13.7m.

Countryside has acquired affordable housing provider Westleigh for £135.4m which is expected to be earnings enhancing from the current year.

Mining giant Rio Tinto (RIO) gains 1.7% to £38.38 as its production rates for its first quarter are mostly up on the prior year. For the period to 31 March, its Pibara iron shipments hit 80.3m tonnes, 5% higher than 2017 with iron ore production up 8% to 83.1m tonnes.

The company’s Bauxite production improved 12% to 12.7m tonnes on a year-on-year basis although aluminium production was 5% lower than the first quarter of 2017 due to disruptions at a smelter in Canada.

Its results are impressive considering it had to invoke force majeure caluses on a number of contracts, freeing them of their obligations due to unforeseen circumstances disrupting operations.

Another mining outfit Hochschild (HOC) sees its shares gain 4.4% to 208.7p after a record first quarter for production. The company produced 4.7m ounces of silover, 69,030n of gold despite an annual stoppage at its San Jose operation. The company says its ‘firmly on track’ to meet its production and costs targets for 2018.

Energy services company Hunting (HTG) ticks up 2.3% to 753.5p on reporting that its average monthly run rate is similar to the final quarter of 2017. The company says that in its first quarter to 31 March, exploration and production projects are being considered by global operators and strength in the North American market has delivered an underlying earnings before interest tax depreciation and amortisation of $32.7m.

Asset manager Jupiter Fund Management (JUP) sheds 5% to 443p on news that its assets under management have shrunk for the first quarter of 2018. To 31 March, the company has seen £1.3bn of outflows from its products as the company says its had a ‘challenging start’ to the year with negative market returns across all channels.

Funeral services company Dignity (DTY) rises 19% to £11.15 as it reveals it first quarter revenue is up by £2m to £95m on a year-on-year basis. The company’s profits are flat but ‘significantly ahead of the board’s expectations’.

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Issue Date: 18 Apr 2018