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“The FTSE100 was mildly firmer in early trading following on from yesterday's gains and rises in Wall Street and Asia overnight with investors awaiting key speeches by Chancellor Philip Hammond and Bank of England governor Mark Carney,” says AJ Bell Investment Director Russ Mould.
“Plus-size fashion retailer N Brown topped the FTSE All-Share board in early trading after a strong first quarter. Revenues were up by 5.6% but it is the group’s online business which is the main driver of growth. Online sales rose by 16% and now generate 71% of the group’s revenues. By contrast, N Brown is closing five stores due to weak footfall. The outlook for consumer confidence remains uncertain but the group has maintained its full year guidance aside from exceptional costs relating to the store closures. N Brown’s shares were up by more than 10.2% in early trading.
“Kodal Minerals was an early riser after it reported further wide, high-grade lithium mineralised intersections from the Ngoualana prospect at its Bougouni lithium project in southern Mali. Multiple parallel and subsidiary veins are also demonstrating continuity of strike that will add to the potential for mining. Kodal’s shares were up by over 2.8%.
“Interserve has won a two-year contract extension worth up to £265m to continue as the infrastructure support provider for Britain’s strategic armed forces bases in the Falklands, Ascension Island, Gibraltar and Cyprus. Interserve also provides a range of site-specific services at the bases, such as aircraft handling at Ascension Island, power generation, water treatment and plant management in the Falklands and support for visiting vessels in Gibraltar.”
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