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“The blue-chip index edged higher in early trading after Wall St and Asian indices zipped higher overnight, with investors keeping an eye on US President Donald Trump's raft of executive orders and UK Prime Minister Theresa May's evolving Brexit plans,” says AJ Bell Investment Director Russ Mould.
“Drinks giant Diageo was one of the leading blue-chip risers in early trading after a strong first half. Net sales rose by 14.5% which reflected accelerated organic growth and favourable exchange rates. Productivity work is on track, driving efficiency and effectiveness across the business and it remains on track to achieve mid-single digit top line growth. Diageo’s shares were up by more than 2.8% in early trading.
“The demand for luxury shoes and accessories shows no sign of abating with Jimmy Choo achieving record revenues as it marked its 20th anniversary. The group said has seen strong growth in Asia, continued solid growth in Europe and Japan and improving trends in US retail. The group continues to build its directly operated stores’ portfolio and sees improving trends across all regions.
“Platinum producer Lonmin’s shares tumbled after a disappointing first quarter. Output fell at the Marikana mining operations and at the generation 2 shafts. Lonmin has maintained its sales guidance for this year but is reviewing capital expenditure. Lonmin’s shares were down by over 9.3% in early trading.”
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