UK stocks open higher, led by miners; Hays pleases, QinetiQ slumps

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.

UK stocks opened higher on Thursday, led by mining companies as commodities prices continued to advance.

At 09:05, the benchmark FTSE 100 index was up 50.14 points, or 0.70%, at 7,191.30.

Anglo American was up 3.38%, Glencore was up 2.8%, Antofagasta was up 2%, and Rio Tinto was up 1.76%.

Pizza chain Dominos Pizza was flat at 386 pence despite reporting a rise in sales in the third quarter of the year, driven by a recovery in collection orders and ongoing strength in online orders.

Recruitment company Hays climbed 3.9% to 168.70 pence after reporting a rise in fiscal first quarter net fee income, driven by increase in demand for permanent placements.

Bus operator National Express inched up 1% to 231.40 pence after reporting that quarterly revenue rose in the third quarter of the year, and now was up to 83% on the same pre-pandemic period in 2019.

Gambling company Rank rose 2% to 162.60 pence after reporting a rise in revenue in its fiscal first quarter as customers returned to casino and bingo halls following the lifting of Covid-19 restrictions.

Homewares retailer Dunelm added 2% to £13.29 after reporting a rise in fiscal first-quarter sales as its summer sale promotion in July, boosted demand.

Emerging Markets asset manager Ashmore slipped 0.5% to 321.40 pence after reporting a decline in assets under management in its fiscal first quarter amid net outflows and negative investment performance.

Science and engineering company QinetiQ slipped 8.9% to 300 pence said half-year performance was in line with market consensus expectations as order intake improved, though flagged a potential £15 million hit to performance from supply chain issues.