FTSE100 jumped higher in early trades on good news from some blue chip heavyweights and talk of an improvement in the petrol crisis. London’s index rose 63 to 7,091.
Army drivers are being readied to deliver fuel to petrol stations by the end of the week though a decision on whether to use military drivers has apparently yet to be taken. PM Boris Johnson said the petrol supply situation was improving.
Next-PLC (LSE:NXT) upgraded sales guidance for the fourth time this year after its recent performance topped expectations. The FTSE 100 group forecast a 10% increase in full-year sales compared to 2019 levels with profit before tax estimated to rise 7% to around £800mln.
Beleaguered Chinese property giant Evergrande has sold a stake a 20% stake in Shengjing Bank to raise money. Evergrande has US$300bn of debts and missed a bond interest payment last week.
Among the small caps, Anglo Asian Mining PLC (LSE:AAZ) was awarded three new concessions by the government of Azerbaijan. The miner said it’s a “transformational milestone” that supports its plans to become a mid-tier gold and copper producer.
MGC Pharmaceuticals Ltd. (LSE:MXC) has received an order for 1,000 orders of its CimetrA medication to fast track the approval process in the US. The drug is designed to treat viral infections including COVID-19.
Red Rock Resources PLC (AIM:RRR, FRA:R2TA) has pocketed A$2.33mln (£1.24mln) from selling a substantial part of its remaining holding in Jupiter Mines Ltd. The sale was completed in the open market.