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Market report: Antofagasta jumps on Pakistan ruling, Sport Direct plunges after results delay

UK markets make modest gains in early trade on Monday reversing an extended losing streak with investors warming to positive news from mining group Antofagasta (ANTO), although news of delayed results by Mike Ashley’s Sports Direct (SPD) comes as another knock to the embattled UK retail space. Antofagasta announced today that the World Bank arbitration court has ordered the Pakistani ...

Market report: Upbeat Ocado plunged deeper into the red on blaze costs, Eddie Stobart warns

Online grocery technology company Ocado (OCDO) booked a deeper first half loss after the fire which destroyed its Andover warehouse in February. But the share price soars to the top of the FTSE 100 leader board on Tuesday with investors are comforted by Ocado’s positive outlook comments, with management saying that ‘we have never had as many opportunities to grow as we do today.’ That ...

Market report: Fast fashion retailers in the spotlight as resources drag on FTSE 100

On the day that the top job is advertised at the Bank of England it is figures from fast fashion businesses Boohoo (BOO:AIM) and Primark, and its owner Associated British Foods (ABF) that are likely to grab investor attention. Primark-owner AB Foods has reported half year revenue of £7.5bn and adjusted operating profit of £639m, largely flat year-on-year but it is the low cost fashion arm ...

Third UK software play set to gate crash FTSE 100 index in latest reshuffle

The UK software sector’s FTSE 100 membership is about to jump by 50% presuming indicative changes are confirmed at the end of today’s stock market trading. Computer-aided design software supplier AVEVA (AVV) is one of two new entrants to the UK’s blue-chip index (insurer Phoenix Group (PHNX) is the other). The pair will replace gaming firm GVC (GVC) and Wood Group (WG.), the oil services ...

Why unfashionable tech firm Micro Focus is storming the FTSE 100 leader board today

Limited growth, specialising in an old fashioned software architecture with none of the pizzazz of newer, faster digital start-ups or FAANG giants (Facebook, Apple, Amazon, Netflix, Google). That’s how whole swathes of investors still see Micro Focus (MCRO). Dull it may be, but its shares have soared more than 14% to £17.335 in morning trade on Thursday adding a staggering near £900m to ...

Market report: Astrazeneca injects some life into the FTSE as it smashes through 7,200

The FTSE 100 is up 0.4% 7,222.45 as positively received corporate results help provide the index with a lift on Thursday. Pharmaceutical giant AstraZeneca (AZN) gains 4% to £59.49 after a 'strong' fourth quarter led by performance of new medicines underscored its return to growth and saw the drugmaker meet its guidance. For the 12 months to 31 December, revenue fell 2% to $22.1bn and ...

Market report: Insurer Hiscox battered by claims, tech guru Micro Focus extends buyback

Markets get off to a slow start on Monday with the FTSE100 losing 0.3% to 7,094 points and US futures down a similar amount after losses in Asia on escalating trade concerns. Shares in insurer Hiscox (HSX) retreat 7% to £15.32 after the company reports third-quarter results which include $125m of provisions for catastrophe losses. It also notes that claims have extended into October. As ...
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