Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
The FTSE 100 opened higher Wednesday, rising 18.6 points to 7,057.9 to hit a 12-month high, as investor attention was gripped by local elections.
First quarter sales at clothing retailer, Next Plc, were down 1.5% on two years ago resulting largely from the closure of its retail stores during the Covid-19 pandemic.
The growth in online sales of NEXT Homeware, third-party brands (through LABEL) and NEXT Childrenswear, along with increasing sales overseas, served to make up for the sales lost in stores, the group said. Its share price was up more than 2% at £82.94.
Homebuilder Barratt Developments' share price climbed 7.8 points to 773.40p as it expects outturn to be 'modestly above' its expectations after raising its forecast on completions for the full-year thanks to strong demand for homes. Wholly owned completions for fiscal 2021 was expected to be between 16,000 and 16,250 homes and the company aimed to deliver around 650 joint venture home completions.
The Melrose Group has reported an 8% surge in sales during the first quarter of 2021, when compared with the same period a year earlier. Its share price remained relatively flat at 166p.
Luxury carmaker Aston Martin Lagonda's share price rose nearly 45 points to £19.45 despite reporting narrower losses in the first quarter of the year. A surge in wholesale volumes and higher prices boosted revenue for the group.
Multinational packaging and paper group, Mondi, has had a 'robust' first quarter of 2021, fuelled by its sustainable packaging solutions, and higher average containerboard selling prices. Its share price fell 1.58% to £19.57.
Rathbone Brothers' share price reacted positively to the report of a 2% rise in total funds under management and administration for the first quarter of 2021, as it rose 2.35% to reach £17.40. The company said good organic growth had pushed total funds under management and administration up to £55.8 billion for the period.
Insurance company Aviva said it had completed the sale of its entire 40% stake in the Turkish life insurance and pensions joint venture, AvivaSA Emeklilik ve Hayat AS to Ageas Insurance International NV. Its share price remained flat following the announcement at 404.20p.
Property company Derwent London reported increased rent collections for the first quarter of the year and £1.3 of new lettings achieved for the year to date as London emerged from lockdown. About 93% of first quarter day rent has been collected, up from 87% on 13 April with another 4% expected later in the quarter. There was minimal movement in the share price on the back of the update, as it continued to hover around the £33.70 mark.
Similarly, flexible office provider, Workspace, reported a pick up in demand as the government's Covid-19 restrictions has lifted. The easing of restrictions during the first quarter resulted in an increase of customer utilisation of the business centres, reaching 20% of pre-covid levels by the end of March and 30% by the end of April. Its share price, however, rose 1.79% to 855p.