(MENAFN- ProactiveInvestors) The FTSE 100 was 30 points higher to 6965 as it rebounded following yesterday’s monstrous losses.
Renewed fears of a Greek exit from the Eurozone or Grexit had sent the UK’s main index tumbling yesterday.
Weaker bond prices also didn’t help investor confidence it could impact on borrowing costs which in turn may weigh on economic activity.
All eyes will turn to how stocks on Wall Street respond with analysts expecting stocks to follow on from the UK and rebound following yesterday’s losses.
On the UK’s main index paper maker Mondi () pulled off a punchy performance in its first quarter with operating profit 29% higher than the previous year to €236mln. Shares leapt 10% to 1433p.
Elsewhere there were also gains for () and ().
Barratt posted an 18% rise in total forward sales to £2.6bn in the first quarter and said demand for new build homes is holding up. Shares climbed 4% to 567p.
also benefitted from the news as shares climbed 3.8% to 1814p.
Meanwhile () led the fallers despite revenue rising 5.7% and profits up 6.5% to £688mln in the first half of the year.
The largest contract foodservice in the world said the economic environment in some of its emerging markets was uncertain and shares dropped 3% to 1128p.
Analysts are still on board with easyJet's plans () although estimates were lowered for the airline after yesterday’s cautious update.
Jefferies and Numis all reiterated ‘buy’ ratings but cut thei target prices on the stock. Shares in easyJet climbed 1.6% to 1681p today.
Elsewhere Alba Minerals () shares shot up after its broker issued a gravity-defying upgrade and described the AIM firm as the overlooked participant in the Horse Hill oil project.
The broker hiked its price target to a whopping 9.4p from 1.6p and shares rocketed around 25% to 0.68p.
In small cap news () was the biggest gainer today climbing 90% to 0.3p.
The jersey-based oil company said yesterday that a requisition by bulletin board favourite ChrisOil was invalid after he ended up buying a 48% stake in the company rather than the 10% he had meant to.
The start of drilling at the Lalla Mimouna prospect in Morocco can put () on the path to a re-rating. The news boosted the share price 8.5% to 13p.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.