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“The blue-chip index moved into positive territory with housebuilders Taylor Wimpey, Barratt Developments and Persimmon all to the fore and on better-than-expected US new job figures,” says AJ Bell Investment Director Russ Mould.
“Tanzania-focussed Kibo Mining’s shares were up after it revealed results of the mining definitive feasibility study for the Mbeya coal to power project. Key improvements on earlier reports include an improved internal rate of return of 69.2% compared with 53.9% and a reduction in the payback period for the project to 2.4 years from 2.6 years. Kibo’s shares were up by almost 7% in lunchtime trading.
“Small to medium-sized business lender 1pm expects adjusted pre-tax profits to be materially ahead of forecasts. Each of the group's trading subsidiaries - 1pm, Academy and Bradgate - continues to see high levels of demand for finance from the SME sector. 1pm is cautiously optimistic despite recent economic uncertainties. Its shares were up by nearly 8%.
“Materials development group Ilika's shares tumbled after full-year revenues fell as it committed an increased proportion of operational resources to its internally-funded battery development programme and consequently generated lower revenues from customers. Its shares were down by almost 15%.”
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