FTSE 100 a smidge higher by midday ahead of US inflation data

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 had nudged into positive territory by midday, up by a whisker to 7,324.06 ahead of US inflation data later.

Instant-service equipment group Photo-Me International rose 6% to 61.6p after upgrading its outlook on annual profit and revenue as better than expected trading momentum in May, June and July continued in the fourth quarter of the financial year ended 31 October 2021.

Associated British Foods said performance in Primark had been ahead of expectations in the fourth quarter of the year, with full-year sales expected to be 'significantly better.' Its shares were up 0.40% to £19.42.

Food business Hilton Food fell 0.7% to £11.88 after agreeing to acquire a international smoked salmon producer, Dutch Seafood, which trades as Foppen.

Mining giant Anglo American said it expected a better 2022, and added that it would target 35% growth over the next decade as it also rejigged the Woodsmith potash project acquired as part of the purchase of Sirius Minerals in 2020. Its shares were down 1% to £29.43.

Contract research organisation Open Orphan said it had won a $13.4 million contract with an unnamed US-based biotechnology company to test its novel antiviral candidate using the hVIVO influenza human challenge study model. Its shares were up 11.6% to 20.65p.

Covid testing firm Omega Diagnostics fell 20% to 26p after it revealed a contract dispute with the Department of Health and Social Care.

Supercapacitors manufacturer CAP-XX said that FiiO, a HiFi audio gear from China, had selected the company's CAP-XX DMF470 supercap for its new M17 high fidelity portable music player. Its shares rose 5.6% to 5.6p.

Nexus Infrastructure swung to an annual profit following a 'strong' recovery from Covid-19. It ticked up 0.5% to 233.2p.