The FTSE 100 ticks up 0.3% to 6,981.49 as sterling softens ahead of this weekend’s crunch EU summit and as Prime Minister Theresa May looks to defend her under-fire Brexit deal from critics at home and in Europe.
Brick maker Ibstock (IBST) gains 8% to 236.4p as it sells US brick manufacturing business Glen-Gery to Brickworks for $110m and confirms that guidance for the full-year remained unchanged.
As part of the transaction, Brickworks will assume certain liabilities, including an associated pension liability, and the net cash inflow for the group is expected to come in at about $95m.
The proceeds from sale will be used to repay debt, with net debt expected to drop to £50m by the end of the year.
Troubled support services firm Interserve (IRV) falls 3.8% to 33.7p as it guides for higher expected debt levels in 2018 and announces a debt reduction plan for 2019.
Reports suggesting Virgin Atlantic is a possible bidder for struggling airline Flybe (FLYB) lifts the shares 19.1% to 11.5p.
UK brewer and pub company Fuller Smith & Turner (FSTA) dips 1.3% to 922p as it reports first-half profits down 12%, owing to rising costs as the company expanded its footprint.
For the six months ended 29 September, pre-tax profits fall to £20.8m, even as revenue increases 6% to £222.1m.
The fall in profit was blamed on increased investment during the half, as the company acquired 10 new sites - including six Bel & The Dragon country inns in the Home Counties and four City bars that fill geographical gaps in its estate.
Opioid addiction specialist Indivior (INDV) dips 0.4% to 99.9p as it says Health Canada has approved its opioid addiction treatment paving the way for the company to begin sales in Canada by the second half of 2019.
The company says its opioid addiction treatment Sublocade would be marketed by Indivior Canada. The news concludes a difficult week for the company which plummeted on the failure of its injunction against US rival Dr Reddy’s Laboratories.
