FTSE up on airlines, house builders after sluggish start

London stocks shrugged offer an early sour start to be cautiously ahead, with both the blue-chip and mid-cap indices rising. Airlines, house builders and supermarkets were rising.

Soon after the open, FTSE 100 was up 2.79 points, or 0.04%, to 7073.67, while FTSE 250 added 42.4, or 0.23%, to 18,115.6.

easyJet (EZJ), up 2.47% to 922.75p, has priced the issue of €500m 1.125% bonds maturing in October 2023. IAG (IAG) taxied up 1.54% to 381.9p.

Among house builders, Taylor Wimpey (TW.) firmed 1.42% to 149.8p, while Persimmon (PSN) gained 1.39% to 1752p and Barratt (BDEV) shone 1.62% higher to 487.45p.

Supermarkets were queuing north after Sainsbury (SBRY), up 0.47% to 233.9p, and then came some financials, telcos, pharmas and commercial property. Others in these sectors retreated.

Falling blue chips outnumbered those rising by 68 to 32.

Fresnillo (FRES), down 1.15% to 1628p, has reported a 7% annual rise in quarterly silver production, with quarterly gold production up nearly 21% on the same basis.

Other miners on the back foot included BHP Billiton (BLT), off 1.07% to 1225.75p, and Antofagasta (ANTO), lower 0.99% to 551.5p.


Diamondcorp (DCP) fell 45.45% to 2.25p as it said a revised production ramp up announced in August has been further revised in light of tonnage constraints encountered during September, which are now likely to continue until at least the end of the current year.

Synairgen (SNG) fell 33.82% to 22.5p as it confirmed AstraZeneca had decided to stop the Phase IIa trial for AZD9412 based on an interim analysis, where an overall very low number of reported severe exacerbations could make primary endpoint conclusions difficult.

Mirada (MIRA) has risen 18.52% to 4p after stating trading in the first six months of the current financial year has been strong and that it is confident of meeting market expectations for the full year to 31 March 2017.


Quadrise Fuels International (QFI), down 10.71% to 10.38p, has proposed a placing of shares at 10p each to raise about £4m. It has also proposed an open offer of further new shares to raise up to an additional £1m. It also booked a FY pretax loss of £4.91m, from a loss of £4.98m.

Premier Foods (PFD) shed 9.57% to 47.25p as it said Q2 total sales were £172.5m, down 5.4% on the prior year. In H1, group sales fell 1.8%, while trading profit was seen slightly down on the prior year. Its FY profit expectations remained unchanged.

Telford Homes (TEF), up 5.76% to 314.38p, said its reported profits in any given period are driven by the number of open market completions achieved and there were far fewer of these in H1 2017 than H1 2016.

Savannah Resources (SAV), down 4.62% to 4.13p, said that further to the recent cash placing to raise £1.42m, certain directors and Al Marjan Ltd, the company’s major shareholder, have now subscribed for 23,576,741 new shares at 3.5p each. This has raised cash proceeds of £825,186.

Ariana Resources (AAU), up 4.29% to 1.83p, has issued further results for its Phase One drilling programme of 2016, completed during early September at the Kiziltepe Project.

Crimson Tide (TIDE), up 2.73% to 2.83p, has entered into a contract with the NCHCD in Ireland, whereby mpro5 will deliver its healthcare solution to patients in the management of treatment for hereditary coagulation disorders, commonly known as haemophilia.

Countryside Properties (CSP), up 2.38% to 236.3p, said trading over the summer months and into the autumn selling season has been robust. “While we are mindful of the medium-term uncertainty over Brexit, our targets, as outlined at the IPO, remain unchanged.”

Other stocks in the news included Vertu Motors (VTU), TP Group (TPG), Marston’s (MARS), Domino’s Pizza (DOM), Tritax Big Box REIT (BBOX), Kier Group (KIE), Tissue Regenix (TRX) and Walker Greenbank (WGB).

Story provided by StockMarketWire.com