“Blue-chips opened in positive territory following gains on Wall Street and in Asia with multi-commodity miners benefiting from rises in industrial metal prices,” says AJ Bell Investment Director Russ Mould.
“Reckitt Benckiser sat at the foot of the FTSE100 board in early trading after first quarter sales were flattered by currency gains. The household goods giant’s revenues were up 15% at £2.6bn but flat when currency effects were stripped out. The acquisition of Mead Johnson, to create a global leader in consumer health, is on track and the group has started a strategic review of its food business as it continues its focus on portfolio optimisation. The group’s shares were down by more than 1.5%.
“South America-focused Amerisur Resources’ shares jumped following the spudding of the Platanillo-21 well in Colombia. Earlier this week Amerisur confirmed that the Platanillo-22 well had tested at 613 barrels of oil per day, which was materially ahead of pre-drill expectations. Amerisur’s shares were up by over 4.8% in early trading.
“Charles Stanley was an early riser after total funds under management and administration increased by 5.7% to £24.0bn in the three months to the end of March. The group has maintained its positive momentum across all divisions and while trading conditions remain favourable it is mindful of the impact that global political and economic uncertainty could have on markets, both in the UK and abroad. Charles Stanley’s shares were up by over 1.6%.”
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