“Blue-chips started the week on the front foot with mining stocks leading the way on the back of stronger copper prices. Glencore, Antofagasta, BHP Billiton and Anglo American were all up in early trading,” says AJ Bell Investment Director Russ Mould.
“Self-storage group Lok'n Store was an early riser after a bullish first half update. Trading has remained solid with the group building on the positive momentum of the previous year. Lok'nStore continues its new store opening programme and has now started development on the four of the new sites it acquired in the last financial year. All four should be open by the end of the 2017 financial year and will provide added impetus to sales and earnings growth. Lok'nStore’s shares were up by more than 2.1% in early trading.
“Firestone Diamonds sparked in early trading after it sold all of the 75,936 carats offered for sale at the first auction of diamonds from its 75%-owned Liqhobong mine in Lesotho. Firestone sold the diamonds at an average price per carat was $107 which the company said was very pleasing, considering that the carats sold were recovered from the predominantly lower quality ore areas. This is not necessarily representative of the run of mine ore but Firestone will only realise consistent run of mine results post ramp up, when it will have mined ore from across the whole pipe. Firestone was up by over 3.8%.
“Trading software provider Fidessa’s shares rose after it hiked its dividend following solid growth in the year to the end of December. Fidessa saw some evidence of stress during the second half of the year as firms took stock of the impact of the Brexit decision and the US election but levels of new business generally remained high and, when combined with the weakness of sterling, enabled the group to deliver solid growth for the year as a whole. Fidessa’s shares were up by more than 1.2%.”
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