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“The FTSE100 confounded forecasts and nudged higher in early trading despite negative overnight moves on Wall Street and in Asia ahead of today's US jobs report,” says AJ Bell Investment Director Russ Mould.
“The thirst for information surrounding the EU referendum has been a fillip for newspaper publishers and Johnston Press was a strong early riser after growth in readership of the ‘i’ beat forecasts. Daily circulation has been consistently over 300,000 in the past week with advertising revenues at their highest level since its acquisition in April. The ‘i’ also has a growing online following with a record amount of traffic to the inews.co.uk website which broke through the 1m page views per week barrier for the first time since its April launch with 1.65m page views.
“AVEVA Group has not seen any noticeable change in trends but will see gains from the weakness of sterling if rates were to remain at similar levels for a prolonged period. AVEVA, one of the world's leading providers of engineering data and design IT systems, maintains a strong balance sheet and saw strong cash generation in the first quarter, resulting in net cash of £133.0m.
“Pottery manufacturer Churchill China remains confident it will hit its targets despite uncertainties following the EU referendum result. Its business is increasingly international and focused on attractive markets with good potential and it is making particularly strong progress in its target hospitality export markets.”
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