Latest market news


Hospitality and travel drag on FTSE ahead of expected Covid easing delay

The FTSE 100 closed modestly higher, up 0.2% to 7,146.68 with travel and hospitality stocks dragging on the index amid expectations of a delay to the easing of Covid-19 restrictions in the UK.

The S&P 500 was down 0.3% to 4,235.73 by 4.30pm UK time.

Environmental infrastructure fund Jlen said it had acquired Cramlington Renewable Energy Development, owner of a biomass combined heat and power plant. Terms of the deal were not disclosed. The announcement saw Jlen's share price fall 0.4% to 102p.

A Serco and Engie joint venture has been awarded UK Defence Infrastructure contracts with an estimated base value of £900 million and total potential value of £3.4 billion over an initial seven year term. Serco's share price was up nearly 5% at 142p.

Venture capital firm Draper Esprit reported a sharp jump in profit as income was boosted by increased in the value of its portfolio.

For the year ended 31 March 2021, pre-tax profit rose to £267.4 million from £40.5 million as income jumped to £288.8 million from £52.0 million year-on-year. Its share price advanced 2.7% to 862p.

Manx Financial Group's share price surged 6.12% to 8.49p as it increased its shareholding in Beer Swaps Limited (BSL), trading as Ninkasi Rentals and Finance, to 90% for a cash consideration of £0.3 million.

Biopharmaceutical company Faron Pharmaceuticals Oy said its cancer immunotherapy drug candidate bexmarilimab was granted a patent in the US.

The patent, No. 11,046,761, with claims protecting the composition of matter of bexmarilimab will be issued on 29 June, 2021. Its share price rose 6.3% to 390.5p.

Technology infrastructure company Alphawave IP reported its 'strongest-ever' first half performance following a record quarter of bookings in the second quarter.

Total bookings year to date have exceeded $190 million. This followed a record $82 million of bookings in Q1 2021 and bookings of $75 million in FY2021. Its share price increased 1.3% to 319p.

Alcoholic drinks maker Distil annual profit rose as a increased marketing spend help boost sales. For the year ended 31 March 2021, pre-tax profit attributable to shareholders rose to £243,000 from £182,000 year-on-year as turnover jumped 48% to £3.6 million. The announcement pushed its share price up by 8.7% to 2.44p