Latest News

UK News

Click Here to read UK News

Forex News

Click Here to read Forex News

Market News

Click Here to read Market News

Irish News
UPDATE 2-London's FTSE 100 subdued, IWG lifts midcaps
Published at 15/04/2019 at 17:32

* FTSE 100 ends flat; FTSE 250 up 0.5 pct

* Miners, oil stocks biggest drags

* IWG jumps on sale of Japan business, CS rating hike

* Indivior surges on hopes of a lower U.S. fine

(Adds company news items, updates to closing prices)

By Muvija M

April 15 (Reuters) - Britain's FTSE 100 was at a loss for direction on Monday as a dip in miners and oil majors offset gains in bank stocks, while office group IWG pushed midcaps higher after announcing an asset sale.

The blue-chip index ended a lacklustre session about flat, lagging its European peers, while the FTSE 250 held on to its six-month high with a 0.5 percent rise as a stronger pound also aided.

The pound's gains followed upbeat comments from Britain's foreign minister Jeremy Hunt on talks between the government and the opposition Labour Party to find a consensus over Brexit.

Miners , which last week scaled seven-year highs, handed back some of those gains with a 1.5 percent fall, despite a rise in copper prices as data from China showed higher unwrought copper imports in March.

Supply concerns and hopes of a U.S.-China trade resolution also supported metal prices.

CMC Markets analyst David Madden said there did not appear to be any major shift in sentiment and investors seemed to take their profits out of metal stocks.

Shell and BP extended losses following a dip in oil prices.

Financial stocks jumped to a six-month high, bolstered by a read-across from last week's upbeat results from U.S. bellwethers JP Morgan and Wells Fargo , and strong bank loan data from China.

But the sectoral index pared some gains as quarterly revenues reported by U.S. big banks Goldman Sachs and Citigroup fell below Wall Street expectations on Monday.

"Traders will be keeping a close eye on ... whether the strong start (to U.S. earnings) is able to continue beyond the banking sector ... right now this is looking unlikely," London Capital Group analyst Jasper Lawler said.

Compass Group , the world's biggest catering firm, slipped 2.2 percent on its worst day in six months after a Barclays rating cut.

Midcaps saw some strong news-related moves.

Serviced office space provider IWG surged 21.1 percent to a two-year high after plans to sell its Japanese operations for 320 million pounds and a double upgrade from Credit Suisse on the stock.

After being pummelled last week on U.S. charges over opioid prescriptions, drugmaker Indivior enjoyed its best day in three years as brokerage Bernstein suggested that the $3 billion headline fine had the potential to be reduced.

Shares in Indivior jumped 19.1 percent on the prospect.

Mediterranean-focused Energean Oil & Gas jumped 8.5 percent to a record high after announcing a new gas discovery at the Karish North exploration well.

Builder Kier added nearly 8 percent as it said its newly appointed CEO planned to cut debt and respond to problems affecting the outsourcing industry.

(Reporting by Yadarisa Shabong and Muvija M in Bengaluru, additional reporting by Samantha Machado; Editing by Robin Pomeroy)


(( For related prices, Reuters users may click on - *

UK stock report

FTSE index:

techMARK 100 index: FTSE futures:

Gilt futures: Smallcap index:

FTSE 250 index: FTSE 350 index:

Market digest: Top 10 by vol:

Top price gainers: Top % gainers:

Top price losers: Top % losers:

* For related news, click on - *

UK hot stocks: [HOT and GB] Wall Street:

Gilts report: Euro bond report

Pan European stock report:

Tokyo stocks: HK stocks:

Sterling report: Dollar report:

* For company prices, click on - *

Company directory: By sector:

* For pan-European market data, click on - *

European Equities speed guide................

FTSE Eurotop 300 index...........................

DJ STOXX index...................................

Top 10 STOXX sectors........................

Top 10 EUROSTOXX sectors...................

Top 10 Eurotop 300 sectors..................

Top 25 European pct gainers....................

Top 25 European pct losers..................... ))