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“The blue chip index tracked gains on Wall Street and in Asia overnight with oil majors BP and Royal Dutch Shell prominent following the surge in oil prices,” says AJ Bell Investment Director Russ Mould.
“Design, engineering and project management consultant WS Atkins reassured rather than excited investors with its trading update. The group expects its overall first half performance, including positive currency effects, to be in line with forecasts and remains confident for the second half despite continued uncertainty and volatility in some of its markets. But hopes that Atkins would confirm new contracts, particularly in the Middle East, did not materialise. Atkins has secured a number of contracts in the property market in the region but some of these have been slow to mobilise while the transport and infrastructure markets have been more challenging, with a number of significant award delays.
“Recruitment group Harvey Nash took a hit from the EU referendum in the six months to the end of July. Operating profits fell by 19% which was mainly due to the impact of uncertainty in the UK caused by the referendum which affected higher margin permanent recruitment fees significantly.
“Imagination Technologies Group has sold its loss-making Pure digital radio business to Austria’s AVenture for £2.6m. Imagination is also holding talks over the sale of other non-core cash consuming parts of the group while continuing operations have traded in line with expectations.”
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