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.
UK stocks opened higher on Tuesday, in line with European and Asian exchanges, as sentiment was buoyed by heightened anticipation of a bumper US stimulus package and Covid-19 vaccine hopes.
At 0826, the benchmark FTSE 100 index was up 39.41 points, or 0.6%, at 6,760.06.
Mining company Rio Tinto added 1.0% to £60.31 after it boosted fourth-quarter production and shipments of iron ore from Australia's Pilbara region.
Fashion retailer Superdry slumped 5.3% to 227.2p, having reported a deeper first-half loss and scrapped its interim dividend, as the pandemic and related store closures disrupted its turnaround attempts.
Credit data provider Experian rose 1.6% to £27.23 after it reported a 10% rise in third-quarter revenue as stronger growth in North America and Latin America helped offset weakness in UK and Ireland.
Experian, however, warned of slower organic revenue growth in the fourth quarter of 3-5%, compared to 7% growth in the third.
Online electrical retailer AO World dropped 7.8% to 348p despite reporting a jump in third-third-quarter revenue in the UK and Germany.
AO World also said it had incurred 'significantly higher' costs as it negotiated some of the operational challenges of working in a Covid compliant environment, particularly in the reverse supply chain.
Mr Kipling cakes and Bisto gravy maker Premier Foods shed 0.9% to 107p, even as it guided for a rise in annual trading profit after its third-quarter sales jumped 9%, as people buy more groceries during lockdown.
Trading profit for the year through March was expected at between £145 million and £150 million, up from £132.6 million year-on-year, the company said in an update. Sales had grown 12.5% in the year to date.
Real estate company British Land climbed 0.8% to 457.7p on news that it had appointed Bhavesh Mistry as chief financial officer.
Mistry was currently deputy CFO at Tesco, a position he had held for over two years.
Gold miner Centamin firmed 2.5% to 119.05p, having maintained its guidance for 2021 after reporting annual production that met its revised expectations.
Rental and student accommodation developer Watkin Jones gained 6.4% to 198.3p, even as it booked a 47% drop in annual profit after the pandemic led to the deferral of forward sales on developments.
Watkin Jones declared a full-year dividend of 7.35p per share, down 12% year-on-year, but still welcomed by investors keen for yield in a tough market.
Flooring and specialist construction group Mountfield tumbled 31% to 0.42p after it said it was considering making 'structural changes' as the pandemic batters its bottom line.
Mountfield also ssaid its profit for the second half would be lower than that recorded for the first half.