Positive economic data from Asia has bolstered the FTSE 100, which opens 30 points up at 1,342.93. The US public holiday tomorrow suggests trading might be light on today’s main market although the release of June’s PMI data might stoke interest.
Oil producer Premier Oil (PMO) ticks up 7% to 53.5p as it announces the acquisition of the Wytch Farm field for £11.7m. This increases the company’s stake in the field to 33.8% from 3.71% but has to satisfy government and third party regulators. The deal is expected to complete by the end of August.
Britain's energy regulator Ofgem could cap bills for some of the most vulnerable customers and make switching supplier easier. Today's statement comes in response to a government request for it to set out plans to help customers on the poorest-value tariffs.
But the watchdog stops short of implementing the widespread price caps that had been in the Conservative manifesto, and investors in British Gas-owner Centrica (CNA), the UK's biggest single gas and electric supplier, and SSE (SSE) nudghe ahead, up 1.5% and 0.3% to 203.3p and £14.58 respectively.
UK electronics distributer Electrocomponents (ECM) sees its share price rise 3.12% to 595p on releasing a positive statement for its first quarter ending 30 June. The company has achieved sales growth of 13%, with all regions seeing double-digit growth underlying revenue growth.
Healthcare communications company Huntsworth (HNT) tracks up over 6% to 61.50p after announcing the acquisition of The Creative Engagement Group. Huntsworth’s acquisition of the company, which provides ‘experiential’ marketing through events and digital marketing, is hoped to boost the company’s ability to provide high quality digital creativity to its clients.
Trakm8 (TRAK:AIM), a big data company that provides telematics devices and services, enjoys a 6.73% rise to 113.67p on releasing its results for year ending 31 March. The company has enjoyed like-for-like growth of 33% and its new orders are up 37% on the previous year.
Fashion retailer SuperGroup (SGP) ticks up 6.35% on releasing its results for year ending 29 April. The company’s revenues and profits are both up on a year-on-year basis while its underlying earnings per share is up 17.4% to 84.5p.
Intellectual property services firm Murgitroyd (MUR:AIM) is down 12.65% to 414.9p as it releases a trading statement. The company reports a record second half of the year to 31 May with revenues of £22.8m and says it’s trading within expectations.
