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.
UK large cap stocks pushed ahead on Friday as ongoing strength in oil prices gave support to BP and Royal Dutch Shell, both of which have a major influence on the direction of the FTSE 100. At midday the FTSE was up 0.1% to 7,119.
US stocks last night were given a boost by US President Joe Biden saying he had struck a deal on a $1.2 trillion infrastructure plan. That in turn in drove gains across Asian markets at the end of the trading week. US banks also passed their stress tests, adding another catalyst for markets.
London-listed construction stocks CRH and Ashtead moved higher as investors sought ways to play Biden's infrastructure boom, both companies having large operations in the US.
Trainers-to-tracksuits retailer JD Sports Fashion sprinted 3.1% higher to 941p on a positive read-across from better-than-expected quarterly results from sportswear giant Nike.
UDG Healthcare edged up 1% to £10.58 as US private equity firm Clayton, Dubilier & Rice said it was mulling an improved and final takeover offer for the healthcare services group at £10.80 per share.
Marshall Motor revved up 3.3% to 197p after the automotive dealer upgraded profit guidance, despite prevailing industry uncertainties.
The car retailer now expects to report an 'exceptionally strong first half performance in both profit and cash generation' and sees full year pre-tax profits coming in 'significantly ahead' of market expectations.
This reflects 'a recent unprecedented used vehicle value appreciation and favourable demand-to-supply conditions for both new and used vehicles' as well as the group's continued 'strong outperformance' of the wider new and used car markets.
UP Global Sourcing improved 2.4% to 219p after raising £15 million to fund the acquisition of Salter, the bathroom and kitchen scales brand, for which CEO Simon Showman sees 'significant potential as part of our strong portfolio of value focused consumer goods brands'.
Central Europe-focused freight management company Xpediator raced 4.2% higher to 75p after hiking full year profit guidance thanks to strong trading.
Asset management industry services provider MJ Hudson was marked up 2% to 53p on the acquisition of fintech risk specialist Clarus Risk for an initial consideration of £1 million and a three-year consideration of up to a further £2.5 million.
In-content advertising company Mirriad sparked up 7% to 49.22p after inking a new commercial agreement with Tencent, China's biggest online video streaming platform by subscriptions, following two years of successful collaboration. Tencent and Mirriad will now work together to further scale in-content advertising in the fast-growing Chinese market.
Remote Monitored Systems rose 11.4% to 1.16p after the surveying services company announced that its new anti-viral mask has been approved by the UK's Medicines and Healthcare products Regulatory Agency.
Medical cannabis research and development minnow Kanabo clipped ahead 1.5% to 19.17p after kickstarting commercial production of its medical grade Hemp CBD line in partnership with Pure Origin.