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“Blue-chips opened cautiously higher as investors awaited UK inflation data out mid-morning,” says AJ Bell Investment Director Russ Mould.
“JD Sports was one of the FTSE250’s biggest early risers after it shrugged off Brexit concerns to post record full-year results. The foundation of its success remains its core sports fashion business but this is increasingly being complemented by international expansion with a net increase of 54 stores across mainland Europe during the year. The group’s shares were up by more than 4% in early trading.
“Banknote printer De La Rue’s shares rose after a bullish year-end update. Underlying operating profits are set to be above the top end of market forecasts following strong growth in its identity systems and product authentication and traceability product lines. De La Rue’s shares were up by over 5.2%.
“Egdon Resources' shares were up after first half pre-tax pre-tax losses narrowed and it confirmed it would submit a new planning application for the Wressle oil field in Lincolnshire this month. The company’s previous application was rejected by North Lincolnshire County Council in January and although an appeal over that decision has been filed, Egdon also plans to put in a new submission which will include even more detailed information in a bid to address the specific points raised by the council. Egdon’s shares were up by more than 2.6%.”
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