London’s FTSE 100 ended Monday’s session in positive territory, wiping out earlier losses to trade firmly above 7,100 by the close of play and shrugging off a weaker open on Wall Street, where the S&P 500 was down 0.16% to 4,429.43 by 4.30pm UK time.
COMPANY NEWS
In company news, wealth manager Hargreaves Lansdown (HL.) sank 11.2% to £14.57, even as it reported an 8% rise in annual underlying profit that was boosted by fresh fund inflows.
While earnings in the current year are expected to grow, Hargreaves Lansdown acknowledged that dealing volumes and client activity have slowed since the easing of lockdown restrictions.
Pharmaceutical giant AstraZeneca (AZN) advanced 0.5% higher to £81.97, having announced positive trial results for a breast cancer treatment. AstraZeneca also said a treatment for chronic kidney disease in adults with diabetes has been approved by the European Union.
Inhaler group Vectura (VEC) gained 5.1% to 172.4p after tobacco company Philip Morris upped its bid for the company to 165p ($2.29) per share.
Deliveroo (ROO) jumped 4.6% to 340p after its German rival Delivery Hero took a 5.09% stake in the British food delivery company.
CLARKSON SAILS HIGHER
Shares in shipping services group Clarkson (CKN) gained 7.2% to £35 after the firm posted a 30% increase in first half earnings driven by strong trading across all areas of the business.
Global recruiter PageGroup (PAGE) dropped 3.6% to 600.5p even after it said it would spend £100 million on shareholder returns as trading conditions improved in the first half.
H&T SHINES
Shares in H&T (HAT:AIM) rallied 7% to 292p as the pawnbroker delivered better than expected first half profits as its pawnbroking and retail performance more than offset a slightly worse than anticipated showing from gold purchasing and pawnbroking scrap.
H&T also reported cash balances of £32.5 million, underpinning a larger than expected interim dividend of 4p.
Convenience stores operator McColl’s Retail (MCLS) tumbled 15.7% to 29.5p on announcing that it is considering a capital raising, confirming media reports. McColl’s said the funds would increase the number of its Morrisons Daily store conversions, accelerate the roll-out of the conversion programme, and strengthen its balance sheet.
Biotech company Shield Therapeutics (STX:AIM) firmed 1% to 49.5p after welcoming the publication of positive trial results for an iron deficiency treatment.
Cocktail bar owner Nightcap (NGHT:AIM) nudged 2.3% to 22p on news it has entered into a lease for a new London Cocktail Club site in central Bristol and that its bars have continued to trade ‘well ahead’ of its expectations since the relaxation of Covid restrictions on 19 July.
