London opening: Shares rise amid streak of business news

(Sharecast News) – London stocks were a little higher at the start of trading on Tuesday as investors paused after strong gains from the previous session and sifted through a range of company news.
As of 08:40 GMT, the FTSE 100 was up 0.2% to 6,600.96.

Investors digested comments from a Chinese official, who warned of a bubble problem in foreign markets.

Spreadex analyst Connor Campbell said: “After bringing markets back to roughly where they were before the bond crisis last week on Monday – or at the very least on track for a full recovery – Tuesday brought saw European investors start with uncertainty in their approach.

“Sentiment was shaken from the start by comments from Guo Shuqing, head of China’s Banking and Insurance Regulatory Commission. foreign financial markets will one day explode.

“Guo really isn’t saying anything that investors, in their hearts, won’t – or shouldn’t – already know about. However, that was enough to stop the kind of explosive growth that started the month.”

In equity markets, homebuilder Taylor Wimpey rallied after announcing it would resume dividend payouts as sales and earnings met expectations in an otherwise “unusual and volatile” year .

Engineer Renishaw jumped after saying it went up for sale.

Flutter Entertainment also rose after the gambling group reported a sharp drop in full-year profits, but said it started the new year with strong momentum and higher revenues.

Product testing and certification company Intertek grew with lower full-year profits and sales, but said its results were above group expectations after a strong recovery in the second half of the year.

Fresnillo shone as the precious metals miner said his profits and income for the entire year had risen, supported by rising precious metal prices, but remained cautious about the future.

In contrast, equipment rental company Ashtead fell despite the fact that annual results are expected to exceed previous expectations after outperforming the market in the nine months ending late January 2021.

Engineer Weir has lost ground after announcing a drop in profits and full year revenues.

Market movers

FTSE 100 (UKX) 6,600.96 0.19%
FTSE 250 (MCX) 21,296.13 0.35%
techMARK (TASX) 4,038.93 1.03%

FTSE 100 – Risers

Taylor Wimpey (TW.) 172.05p 3.30%
Intertek Group (ITRK) 5,632.00p 2.77%
Pershing Square Holdings Ltd NPV (PSH) 2,565.00 p 2.19%
Scottish Mortgage Inv Trust (SMT) 1,210.00 p 2.11%
Rightmove (RMV) 600.00p 1.76%
Aveva Group (AVV) 3,493.00p 1.51%
Admiral Group (ADM) 3,174.00p 1.50%
London Stock Exchange Group (LSEG) 9,858.00p 1.48%
Pennon Group (PNN) 935.60p 1.45%
United Utilities Group (UU.) 887.40p 1.30%

FTSE 100 – Fallers

Ashtead Group (AHT) 3,911.00p -2.66%
TA (BP.) 290.90p -2.23%
Dutch royal shell ‘A’ (RDSA) 1440.20p -1.80%
Dutch Royal Shell “B” (RDSB) 1380.00 p -1.72%
Polymetal International (POLY) 1,422.00p -1.42%
JD Sports Mode (JD.) 829.20p -0.96%
Antofagasta (ANTO) 1,816.00p -0.90%
Pentecost Bread (WTB) 3,439.00p -0.69%
Anglo-American (AAL) 2.886.00p -0.41%
Smith (DS) (SMDS) 401.70p -0.40%

FTSE 250 – Lifts

Renishaw (RSW) 6,525.00p 12.50%
Hammerson (HMSO) 28.44p 3.61%
Hill & Smith Holdings (HILS) 1,306.00p 3.16%
ICG Enterprise Trust (ICGT) 1,025.00p 2.71%
Resident (CPI) 48.86p 2.63%
Oxford Instruments (OXIG) 1,898.00p 2.37%
GCP Student Living (DIGS) 156.80p 2.35%
Rank group (RNK) 174.00p 2.11%
Baillie Gifford US Growth Trust (United States) 349.00p 2.05%
TR Property Inv Trust (TRY) 381.50p 2.01%

FTSE 250 – Fallers

Weir Group (WEIR) 1,928.00p -3.89%
Carnival (CCL) 1,621.00p -1.97%
Rathbone Brothers (RAT) 1,522.00p -1.81%
Travis Perkins (TPK) 1,454.00p -1.62%
JPMorgan Japanese Inv Trust (JFJ) 650.00p -1.52%
Contour Global (GLO) 202.50p -1.46%
Apax Global Alpha Limited (APAX) 213.00p -1.39%
Impax Environmental Markets (IEM) 452.00p -1.31%
Beazley (BEZ) 350.00p -1.24%
SSP Group (SSPG) 356.20p -1.22%

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