Date: Thursday 21 May 2015
LONDON (ShareCast) - London stocks inched higher on Wednesday, buoyed by stronger than expected retail sales and strong performances from mining, telecommunications and pharmaceutical stocks.
At 14:30 BST, the FTSE 100 was trading 4 points higher at 7,011.
Mining stocks, including Fresnillo, BHP Billiton and Rio Tinto, dominated the risers after Wednesday night's Chinese manufacturing data reiterated the country's need for additional monetary stimulus. The news offsets Antofagasta's scaled back production guidance on Wednesday, with the copper miner also making gains.
Hargreaves Lansdown surged after reporting a record level of inflows over the first four months of 2015, helped by strong new business and client retention. The ISAs, pensions, funds and stocks group said net inflows were £2.75bn in the four months to 30 April.
Vodafone shares continued to advance on Thursday on speculation about a possible tie-up with Liberty Global, with Nomura providing an extra boost by lifting its stance on the stock from 'reduce' to 'neutral'.
Technology outfit Smiths Group edged higher after reiterating guidance for full-year growth in spite of a weakening of underlying results over the first three quarters.
International Consolidated Airlines Group was in the red as investors fretted over how long it is taking to complete a takeover deal with Aer Lingus. However, its chief executive claimed that he was "perfectly relaxed about the timing."
SSE continued lower despite annual profits creeping higher on Wednesday, as the utility company disappointed with its warning that dividend cover would fall due to the pressure of "significant uncertainties" on earnings.
Risers
Aberdeen Asset Management (ADN) 445.80p +1.57%
AstraZeneca (AZN) 4,452.00p +1.34%
Hargreaves Lansdown (HL.) 1,272.00p +1.27%
Marks & Spencer Group (MKS) 590.50p +1.20%
Smiths Group (SMIN) 1,185.00p +1.11%
Vodafone Group (VOD) 241.15p +0.96%
Smith & Nephew (SN.) 1,144.00p +0.88%
Kingfisher (KGF) 364.50p +0.86%
Prudential (PRU) 1,657.00p +0.85%
Shire Plc (SHP) 5,520.00p +0.82%
Fallers
Taylor Wimpey (TW.) 184.10p -4.01%
easyJet (EZJ) 1,614.00p -2.12%
Carnival (CCL) 3,141.00p -1.87%
International Consolidated Airlines Group SA (CDI) (IAG) 556.50p -1.85%
Randgold Resources Ltd. (RRS) 4,723.00p -1.58%
London Stock Exchange Group (LSE) 2,430.00p -1.58%
Intertek Group (ITRK) 2,596.00p -1.41%
Hammerson (HMSO) 680.50p -1.38%
SSE (SSE) 1,660.00p -1.25%
HSBC Holdings (HSBA) 615.10p -1.25%
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