The FTSE 100 rose by 1% to 6,958 as Unilever (ULVR) rallied 2.8% on a ‘buy’ recommendation from broker Jefferies and inflation hit its highest level in two years.
Premium drinks business Diageo (DGE) was also one of the biggest blue chip movers with a 2% gain.
West Texas Intermediate and Brent crude oil were both flat at $52.80 and $55.61 per barrel, respectively.
Gold was 0.5% lower at $1,157 per ounce and copper slipped 1.2% lower to $5,688 per tonne.
FTSE 100 RISERS AND FALLERS
Twenty-First Century Fox said it aims to table a firm cash bid valuing broadcaster Sky (SKY) at £10.75 per share as early as Wednesday for the 61% of the company it does not own.
FTSE 250 RISERS AND FALLERS
Cyber security company NCC (NCC) admitted previous confidence on recovering a profit shortfall from losses and delays of several contracts in the IT assurance division was optimistic. It admitted it will not be able to make-up the gap which became ‘too significant to fill in the second half.’ The stock slumped 10% to 183.9p.
Despite dismissing a highly critical report by Spotlight Research, Paysafe (PAYS) suffered a 17% drop. The online payments firm said the information in the report was either factually inaccurate or previously disclosed.
Oil services firm Hunting (HTG) remained upbeat on near-term trading as its balance sheet was shored-up but warned over how much visibility it has in 2017. Shares in the firm declined 5% to 598.5p.
SMALL CAP RISERS AND FALLERS
Floor coverings retailer Carpetright (CPR) blamed unpredictable demand and volatile currency movements for its disappointing half year results.
A positive update from energy industry data supplier Getech (GTC) prompted an 15% share price rally to 36.8p.
Proximity marketing technology minnow Proxama (PROX) collapsed 40.5% on delays to the sale of its struggling digital payments arm and secured £1.8m of funding.
Mass spectrometry instrument designer Microsaic (MSYS) struggled for scale after it reported an 8% sales growth through 2016. Due to tough conditions in one of its markets, investors questioned 2017 growth rates, which triggered an 23.5% drop.
Marble extractor Fox Marble (FOX) was 12% down as a large part of its orders will be completed in 2017, leaving full year sales lower than expected in 2016.
Online marketing firm Veltyco (VLTY) confirmed its results will be ahead of market expectations due to strong trading in the fourth quarter.
LGO Energy (LGO) raised £1.18m through a share placing to accelerate the drilling of Mayaro Sandstone infill wells at its Goudron Field in Trinidad.
Story provided by StockMarketWire.com