After two trading days of heavy losses on a resurgent pound the FTSE 100 claws back a little ground this morning, taking its cue from a positive session in Asia overnight. The index is up 0.3% to 7,236.
Figures from online property site Rightmove (RMV) showed London house prices recording their biggest annual fall so far this decade.
Diamond producer Petra Diamonds (PDL) slumps 8.6% to 76p, taking its year-to-date decline over the 50% mark, as it warns restrictions on exports of precious stones from Tanzania could impact its borrowing facilities. Earlier in September the authorities in the country seized a consignment of diamonds and held several key personnel at Petra’s Williamson mine for questioning. If exports cannot be resumed before the end of 2017 the company could breach covenants on its loans.
Cheese maker Dairy Crest (DCG) is slightly higher at 610p as it reports cheese sales and volumes and values in the six months to September are ahead of the previous year. Profit is also up with its Cathedral City brand expected to see double-digit volume growth and the other three constituents of its four key brands delivering ‘strong’ volume growth.
Non-life insurer Hiscox (HSX) slips 1.9% to £12.28 as it puts the hit from Hurricane Harvey at $150m but says ‘reinsurance protections for the group remain substantially intact’. Harvey devastated Houston, Texas in August.
Oil explorer Jersey Oil & Gas (JOG:AIM) gains 35.3% to 90p. The micro-cap, which collapsed earlier this month on disappointing results from its Verbier well, says there may still be hydrocarbon potential which will be targeted by a follow up side-track exploration well.
