The FTSE 100 rallied 1.4% to 6,802 following a rise in Asian stocks, which was triggered by stronger oil prices.
West Texas Intermediate (WTI) crude oil rose 1.4% to $43.65 and Brent crude oil advanced 1.2% to $46.32 per barrel, respectively.
Gold was flat at $1,305 per ounce and copper cheapened 0.7% to $4,717 per tonne.
MID CAP RISERS AND FALLERS
A profit warning sent outsourcing giant Mitie (MTO) spiralling 25.6% to 200p. It blamed the trading shortfall on ‘uncertainty both pre and post the EU referendum’. It said operating profit is expected to be below management’s expectations due to less project work volumes and spending by clients, pricing and cost pressure.
Russia-based precious metals producer Polymetal (POLY) said the content of precious metals was estimated at 6.6 million ounces at its Viksha deposit, making it one of the largest open-pittable PGM resources in the world. Shares were up 1.8% to £10.30.
Food producer Dairy Crest (DCG) retreated 3.9% despite revealing that first-half profit will beat expectations. The firm maintained full-guidance despite the improved second quarter performance from key brands Cathedral City, Country Life, Clover and Frylight.
SMALL CAP RISERS AND FALLERS
Clontarf (CLON) and its partners accepted an offer in principle concerning the revised Tano Basin acreage co-ordinated by Ghanaian officials, causing the share price to soar 21.7% to 0.7p.
Software firm Adgorithms (ADGO) plummeted 21% to 20.5p after its gross profit nearly halved from $4.2 million in the first half to $2.2 million, as R&D expenses rose by $1 million.
Online gaming operator Stride Gaming (STR) traded 11.5% higher on a strong trading update, which revealed it will beat expectations as a result of strong organic growth and a significant jump in full year revenue.
Managed services provider Maintel (MAI) disappointed investors after trading, excluding Azzurri, was slower than expected due to delays in the timing of four large contracts. Shares in the firm dropped 16.4%.
Manchester-based stockbroker W.H. Ireland (WHI) jumped 12.9% after confirming that Kuwaiti European Holdings (KEH) is considering taking a stake in the firm.
Geophysical anomalies in the Lahtojoki property pushed Karelian Diamond Resources (KDR) 10.7% higher. The anomalies suggest the presence of further diamondiferous resource potential in the area.
Cake and bread maker Finsbury Food (FIF) gained a penny on better-than-expected full-year results, revealing rising top and bottom line growth and a round of earnings upgrades.
Indian infrastructure group Skil Ports & Logistics (SPL) crashed 50% to 9.75p after announcing it needs to raise £36 million to finish its port terminal, this sum is considerably larger than its £4.18 million market cap.
Aviation services provider Gama Aviation (GMAA) fell 13.6% on half-year results after analysts reduced earnings forecasts amid weaker European market conditions. The company said it expects a stronger second-half performance.
7digital (7DIG) fell into negative territory despite signing a contract with technology solutions provider grandPad.
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