The FTSE 100 was modestly higher on Tuesday morning at 7,319.70 as sales figures from the British Retail Consortium for April show year-on-year growth of 5.6% in April against expectations for a 0.5% increase.

Utilities stocks are under pressure after a weak set of results from German utility Eon and Prime Minister Theresa May's pledge to end 'rip-off' energy bills.

Software business Micro Focus International (MCRO) dives 11.3% to £23.40 as it reports a 10% drop in quarterly revenue from Hewlett-Packard Enterprise, the US company it is in the process of buying. The company agreed the $8.8bn takeover in September 2016.

Bookmaker William Hill (WMH) gains 2.2% to 306.8p as it posts 9% growth in group revenue in the 17 weeks to 25 April. This was in line with expectations although margins were squeezed.

Builders merchant Grafton (GFTU) nudges 1.75% higher to 780.5p as it reveals revenue up 7.7% in the first four months of 2017 to £851m. The company cites a continuation of favourable conditions from the end of last year and the benefits of its diversified market exposure.

The £74m takeover of walkie-talkie manufacturer Sepura (SEPU) by Chinese firm Hytera Communications has effectively been cleared by the UK authorities prompting a 26.8% rise to 13p. The market cap of £47.9m still stands at a significant discount to the transaction price as the deal still faces a probe in Germany.

Micro-cap mobile app firm MySquar (MYSQ:AIM) gains 27.4% to 3.6p as it reports average daily revenue from its Myanmar base of $5,000 per day.

Stamp collecting firm Stanley Gibbons (SGI:AIM) slumps 11.3% to 7.88p as it reveals the £2.4m sale of a major part of its Interiors division. The funds will be used to pay down debt, management also note that group trading remains subdued and update on legacy issues relating to 'the strategic decisions of the previous board'.

Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account. AJBell logo

Issue Date: 09 May 2017