London’s FTSE 100 was in positive mood on Thursday as investors digest the apparent stage setting for a US interest rate cut in August.

FTSE 100 was 0.3% higher at 7,551.39, while the mid cap FTSE 250 index is also on the front foot, adding 75 points at 19,494.59.

Among corporate stories, the big news today comes from drugs developer Indivior (INDV). The company has today raised earnings guidance after a much stronger first half than anticipated.

That's partly down to its  Suboxone opioid addiction treatment, which has lost less market share from copycat alternatives than previously expected.

Indivior shares rally 30% to 57.66p, by far the biggest risers on the FTSE All-Share index.

BOOST FOR NEW HOMES DEMAND

There is also more news from the closely-watched housebuilding industry after the Royal Institute of Chartered Surveyors' (RICS) latest report.

It shows a 10% increase in interest from new buyers in June, the first time since November 2016 that the survey has reported a rise in new buyer enquiries at the national level.

That drives UK housebulder stocks higher across the board, led by Barratt Developments (BDEV)  - up 3.4% at 604p - which guided for annual profit to be ahead of expectations yesterday.

Persimmon (PSN) and Taylor Wimpey (TW.) are also on the rise on Thursday.

RECKITT STRIKES DEAL WITH US AUTHORITIES

Cillit Bang to Nurofen maker Reckitt Benckiser (RB.) has come to an agreement with US authorities regarding past opioid product sales.

Involving a $1.4bn payment, this comes as a relief to shareholders since the issue has dragged on Reckitt shares for some time. The stock rallies 2.6% to £65.95.

Jet2 holidays firm Dart (DTG:AIM) reports annual results showing profits up by more than a third.

That sent the share price soaring 3.2% to 869p, although investors will be a bit wary of comments about possibly cutting the flight prices and holiday packages as competition intensifies in the face of ongoing Brexit uncertainty and a battered pound pinch demand.


Issue Date: 11 Jul 2019