UK stocks closed modestly up as markets closed ahead of the Christmas holiday with news emerging on Thursday that a Brexit breakthrough is near.
Speculation was rife that UK and EU negotiators were poised to sign a Brexit trade deal at long last giving investors hope that they may have a clearer understanding of where things stand before the 31 December deadline.
At the 12.30pm close on Christmas Eve, the benchmark FTSE 100 had nudged around 6 points higher to end at 6,501.72.
The more domestically focused FTSE 250, considered a better barometer for UK economic sentiment, made much stronger gains, rising 1.15% to end the final pre-Christmas session at 20,531.
Prime Minister Boris Johnson is expected to hold a press conference later on Thursday, at which it is hoped he will be able to confirm that an historic Christmas Eve agreement had been reached.
Across the pond, Wall Street futures pointed to stocks opening slightly higher ahead of the bell on Thursday as US investors prepped for their own festive holiday.
At 12.20pm London time, Dow Jones futures were up 0.16%, while S&P 500 and Nasdaq 100 futures had the indices opening 0.18% and 0.11% firmer, respectively.
COMPANY NEWS
In corporate news, mining company BHP (BHP) closed largely flat at £19.644 after it said production had restarted at its Samarco iron ore venture with Vale in Brazil, around five years after it was shuttered due to a catastrophic dam collapse.
The mine was initially expected to produce around 8 million tonnes of iron ore pellets per annum, BHP said.
Payments group Network International (NETW) rallied 7% t to 304p after it said it was reviewing a report critical of the company by short-seller ShadowFall Research related to its links to failed German group Wirecard.
Network International said while many issues raised in the report had already been addressed, the historical natural of some of the claims meant its response wouldn’t come until the end of January.
Energy efficiency investor SDCL Energy Efficiency Income Trust (SEIT) drifted 0.5% to 107p following news that it had agreed to acquire US solar assets from funds managed by Blackstone for around $150 million.
The deal would see SDCL buy commercial and industrial on-site solar and energy storage projects, together with a 50% interest in the platform that created them, Onyx Renewable Partners.
SMALL CAP WRAP
Molecular diagnostics group Yourgene Health (YGEN:AIM) firmed 4% to 15.31p on news that its genomic services business had been added to a UK-government-approved Covid-19 private testing providers list.
The listing was for the Test to Release for International Travel scheme introduced on 15 December, which was designed to reduce quarantine periods for travellers arriving in the UK.
Neuroscience analytics group Ixico (IXI:AIM) lost much of its earlier gains to nudge just 0.25% to the good at 101p, having won a £3.4 million contract for a trial investigating the rare neurodegenerative condition Spinocerebellar Ataxia type 3, also known as Machado-Joseph disease.
Television distribution and production group DCD Media (DCD:AIM) was flat at 240p as it posted a rise in first-half profit after sales were buoyed by shows including 'The Secrets She Keeps' and 'Penn & Teller: Fool Us in Vegas'.
