Markets looked on the bright side, driving up the FTSE 100 Index by 48.15 points to 6145 at lunchtime.
Barclays fell deeper into the red, slashed its divi and warned on the first quarter investment bank outlook
Investors shrugged off downbeat news from Barclays (LON:BARC) and weak manufacturing data to propel the top flight higher on Tuesday.
Barclays fell deeper into the red, slashed its dividend and warned on the first quarter outlook for its investment bank, hitting its shares by 15.85p, or 9.2%, to 156.2p.
There was also thin gruel on the economic front, with eurozone and UK manufacturing expansion hitting 12-month and 34-month lows respectively in February.
But markets looked on the bright side, driving up the FTSE 100 Index by 48.15 points to 6145 at lunchtime.
The prospect of a bid battle for the London Stock Exchange (LON:LSE) helped, as it emerged that the owner of the New York Stock Exchange, ICE (NYSE:ICE), was considering challenging Deutsche Boerse’s interest. Shares in the LSE jumped 224p to 2902p.
Investors developed their appetite for shares in bakery chain Greggs (LON:GRG) by 147p to 1182p after it cooked up a 5.2% rise in annual sales to £835.7mln and boosted pre-tax profits by a quarter to £73mln. It also increased its dividend by 30% to 28.6p.
Premier African Minerals (LON:PREM) reversed 0.08p, or 11.5%, to 0.58p on news that it had raised another £500,000 to provide working capital while its RHA tungsten mine in Zimbabwe comes on line, although it said it was not anticipating the need for any more fund-raisings.
Natural sweetener producer PureCircle (LON:PURE) was 5.25p tastier at 320.25p after adjusted pre-tax earnings before interest, depreciation and amortisation more than doubled to US$13.5mln.
Andes Energia (LON:AEN) strengthened 0.37p, or 2.3%, to 16.62p as the Argentina and Colombia-focused oil producer confirmed it had fully repaid its debt facility with Macquarie Corporate Holdings.
Investors switched on to public transport CCTV supplier 21st Century Technology (LON:C21) by 0.25p to 4.25p after it won contracts to upgrade systems for two customers.
Investors in the Horse Hill oil project near Gatwick airport in Sussex were slicker after a test showed oil flowing freely to the surface at a rate of 900 barrels per day from a second zone at the site.
Shares in UKOG (LON:UKOG) rallied 0.38p to 2.9p, Solo Oil (LON:SOLO) ticked up 0.02p to 0.42p, Regency Mines (LON:RGM) advanced 0.05p to 0.9p and Alba Mineral Resources (LON:ALBA) spurted 0.06p to 0.48p.
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SOURCE: Proactive Investors
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