Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
"After a slow start the FTSE was shaken from its slumber by worse than expected UK PMI numbers which imply the country could be heading for recession. In volatile trading the index was in positive territory on expectations for financial stimulus," says AJ Bell Investment Director Russ Mould.
"LSL Property Services, which runs the second largest estate agent chain in the UK, was dragged down as it warned full year operating profit would be ‘significantly’ lower than expected due to the uncertainty created by the EU referendum. Related stocks like online property portal Rightmove and agency peer Countrywide were pulled lower in its wake.
"Gold miner Acacia Mining was in demand as it reported full year output would be at or above the top end of its current guidance. The benefits of reworking mine plans and a focus on efficiency over the past few years are now coming through. Costs are down, production is up and shareholders are enjoying a very large increase in the first half dividend, up 43% year on year.
"Argos-owner Home Retail Group was trading ahead as the UK Competition & Markets Authority cleared its takeover by Sainsbury’s. Although, reflecting ongoing market scepticism over the merits of the deal, shares in the supermarket dipped lower.”
These articles are for information purposes only and are not a personal recommendation or advice.