FTSE firms ahead of Fed chair speech

Writer,

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.

As investors awaited to hear a speech from the US Federal Reserve chair Jerome Powell the FTSE 100 was stronger, gaining 0.8% to 7,185.34.

US futures pointed to a slightly higher open on Wall Street later on.

Entertainment One jumped 31.9% to 585p after it accepted a £3.3bn offer from US toy maker Hasbro, pitched at 560p per share.

The rally above the bid price indicated some shareholders are holding out for a potential rival bid.

LARGE AND MID CAP RISERS AND FALLERS

Computer services company Computacenter rallied 4.2% to 1,450p as it reported slightly lower half-yearly profits but forecast a better performance in the second half.

Pharmaceutical giant GlaxoSmithKline advanced 1.2% to 1,695.4p, having achieved a positive response rate for a blood cancer treatment during a clinical trial.

Property investment and development company Henry Boot rose 3.4% to 242p, even as it booked a fall in first-half profit owing to lower development activity.

Target Healthcare fell gained 0.2% to 117.4p as it acquired two care homes in Ripon, Yorkshire and Stourport, West Midlands, for around £18.6m combined.

SMALL CAP RISERS AND FALLERS

Eddie Stobart Logistics suspended trading in its shares and announced that Alex Laffey would stand down as chief executive as the company investigated a probe into an accounting error. The company also said it would review its dividend.

Alternative fuel company Quadrise Fuels gained 16.5% to 5.12p after it secured £2m of funding, via the first tranche of an issue of convertible securities, and would also launch an open offer of additional new shares.

Cake decorations and ingredients supplier Real Good Food gained 5.9% to 6.75p after it announced it had secured an £8.9m credit facility to repay debts owed to its shareholders.

XPS Pensions shed 1.7% to 116p, despite its National Pension Trust unit securing authorisation from UK regulators.

Africa-focused gold producer Hummingbird Resources gained 1.6% to 22.5p on swinging to a half-yearly loss, as higher revenue was offset by production costs.