FTSE 250 reaches all-time high

FTSE 100 stocks rallied through the 7,000 mark for only the second time in the history of the index, which hit all-time highs early last year, following solid gains across Asia and Australasia overnight.

Only six blue chip stocks slid lower by up to 0.9%.

The FTSE 250 broke to a new all-time high of 18,435, dismissing post-Brexit vote fears.

Sterling remained weak against the dollar at $1.27 and slumped against the euro to €1.14.

West Texas Intermediate (WTI) crude oil slipped 0.5% to $48.57 and Brent crude oil slumped 0.5% to $50.65 per barrel, respectively.

Gold cheapened to $1,307 per ounce and copper declined 0.9% to $4,762 per tonne.


Health and safety services specialist Intertek (ITRK) rose 4.4% to £36.98 after analyst Jefferies raised its rating on the stock from ‘underperform’ to ‘buy’ and increased its price target from £30 to £43.


Pharmaceuticals firm AstraZeneca (AZN) was flat after it revealed its peripheral artery disease drug EUCLID failed to deliver better results than existing treatment clopidogrel.

AstraZeneca also said it reached an agreement with US-based Aralex Pharmaceuticals to licence Toprol-XL, a cardiovascular disease treatment. Aralex said it will pay Astrazeneca $175 million upfront and sales-related payments of up to $48 million.


Bakery retailer Greggs (GRG) fattened 2.2% to £10.69 on a trading update detailing a 2.8% rise in like-for-like sales for the 13 weeks to 1 October. CEO Roger Whiteside said Greggs was on track to meet full year forecasts, flagged progress with shop refurbishments and was upbeat about the autumn/winter menu.


Marketing services group St Ives (SIV) climbed 6.5% despite swinging from a profit of £8.7m to a loss of £5.7m as revenue rose by 7% to £ £367.5m in the year to 29 July.

Journey (JNY) said it is in discussion with Jaguar Holdings concerning a possible takeover by the company.

Quantum Pharma (QP.) crashed 50.9% to 34.38p as its operating profit fell by more than 50% from £2.8m to £0.8m.

Investors were unhappy with Digital Globe Services’ (DGS) recommendation not to pay a final dividend, resulting in a lower dividend compared to the prior financial year. Shares declined 17.4% to 38p.

Trading business Trifast (TRI) was in positive territory on a positive trading update, which flagged the TR business on track concerning organic growth performance and a benefit from a tailwind arising from the weakness of Sterling.

Sofas and carpets seller ScS (SCS) plumped 2.8% after swinging to pre-tax profit due to ‘significant growth across all areas of the group’ for the year to July, with orders up 14.8%.

Technology solutions provider Milestone (MSG) signed a co-operation agreement with the Social Stock Exchange to generate revenue, build membership and raise the profile of both organisations.

Story provided by StockMarketWire.com