FTSE off its lows after US markets open higher than anticipated

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A better than expected start to trading on Wall Street helped the FTSE 100 recover from its lows to trade down 1.5% at 7,058.86.

By 4.30pm UK time the US S&P 500 was down just a smidge at 4,397.50 despite concerns over the spread of the Delta variant, turmoil in Afghanistan and a tapering of the US Federal Reserve's support for the economy.

Mining giant Antofagasta cut its outlook on full-year production, but hiked its interim dividend after reporting a jump in first-half profit, underpinned by rising copper prices.

For the six months ended 30 June, pre-tax profit jumped by $1.40 billion to $1.78 billion year-on-year as revenue climbed 67.9% to $3.59 billion. Its shares fell 4.3% to £14.07.

Telecommunications infrastructure company Helios Towers narrowed its losses in the first half of the year, amid boost from acquisitions. It fell 6.4% to 159.3p.

For the six months to 30 June 2021, pre-tax losses narrowed $43.6 million from $83.0 million year-on-year as revenue increased by 4% year-on-year to US$212.4 million.

Marshalls half year revenue is up 42%, driven by continued strong growth in domestic and international sales. It bucked a negative market to trade 3.6% higher at 784p.

For the six months to the end of June, 2021, the specialist landscape product company saw revenues reach £298.1 million, up 42% on 2020 and 6% on 2019.

Rank Group's revenues halved for the 12 months to the end of June, as the pandemic forced the majority of its venues to close. It fell 2.6% to 178.4p.

For the period, group underlying net gaming revenue was £288.2 million, compared with £575.6 million the year prior, while the underlying operating loss was £67 million.

Specialist lending and retail savings, OSB Group, has reported a 62% increase in underlying pre-tax profit, hitting a record £252.8 million for the first half of 2021. It advanced 3.9% to 510p.

Private equity advisory firm Apax Global Alpha reported net asset return was 17.4% in the first half of year, driven by strong performance in its private equity portfolio. It dipped 0.7% to 218.5p.

For the six months ended 30 June, total adjusted net asset value increased to about €1.4 billion, with adjusted NAV per share increasing from €2.45 (£2.19) to €2.81 (£2.41).

Shares in white-label cleaning products company McBride slumped 8.5% to 76.5p after the company delivered a major downgrade to its earnings outlook just seven weeks into the new financial year.