Sector movers: Financial services boosted by FCA-ESMA pact
Construction materials and personal goods were up on Friday, while banks and financial services were only flattish despite a key deal between UK and European Union regulators agreeing a pact to cushion the impact of a potential no-deal Brexit.
The Financial Conduct Authority and European Securities & Markets Authority signed two memorandums of understanding to cooperate on oversight of investment funds as well as to share data.
Andrew Bailey, chief executive of the FCA said: “I am pleased we have been able to agree these MoUs. They will allow for continued close cooperation in the event the UK leaves the EU without an agreement.
“They should also minimise the potential for disruption, which we know is particularly important for the investment management sector, credit rating agencies and trade repositories.”
Financial services were little moved overall, though Standard Life Aberdeen, Hargreaves Lansdown, Schroders and Ashmore were moving higher.
Construction & materials were up, with CRH climbing almost 3%, while Melrose Industries, somewhat misclassed in the sector, up even higher.
Personal good bounced back the day after a session in the red, with Unilever rebounding after its results had disappointed on Thursday, helped by positive analyst comment from the likes of Berenberg.
Imperial Leather maker PZ Cussons got up a nice lather after refuting rumours that the company was pulling out its operations in Nigeria after persistent problems in its key market contributed to the drop in annual profit reported earlier this week.
Fixed-line telecoms were led lower by TalkTalk, dragging down BT and Telecom Plus too.
TalkTalk's results were the cause as a downgrade to EBITDA guidance hit its own shares, while its continued customer gains maybe hit its rivals.
Top performing sectors so far today
Construction & Materials +2.62%
Personal Goods +1.94%
Technology Hardware & Equipment +1.90%
Industrial Metals & Mining +1.78%
Life Insurance +1.41%
Bottom performing sectors so far today
Leisure Goods -1.98%
Fixed Line Telecommunications -1.15%
Food & Drug Retailers -0.18%
Real Estate Investment Trusts -0.14%
Health Care Equipment & Services 0.03%
Market Movers
FTSE 100 (UKX) 7,020.99 0.75%
FTSE 250 (MCX) 18,815.80 0.56%
techMARK (TASX) 3,384.09 0.31%
FTSE 100 - Risers
Melrose Industries (MRO) 174.20p 3.29%
Coca-Cola HBC AG (CDI) (CCH) 2,635.00p 3.21%
3i Group (III) 870.20p 2.42%
CRH (CRH) 2,243.00p 2.42%
Anglo American (AAL) 1,988.40p 2.35%
Direct Line Insurance Group (DLG) 344.50p 2.32%
Evraz (EVR) 509.60p 2.29%
Croda International (CRDA) 4,931.00p 2.28%
Admiral Group (ADM) 2,118.00p 2.27%
Experian (EXPN) 1,955.00p 2.25%
FTSE 100 - Fallers
Fresnillo (FRES) 969.40p -3.54%
Glencore (GLEN) 306.18p -1.06%
Intertek Group (ITRK) 4,868.00p -0.81%
BT Group (BT.A) 230.75p -0.71%
Tesco (TSCO) 222.00p -0.49%
British Land Company (BLND) 570.60p -0.49%
Centrica (CNA) 135.80p -0.44%
GVC Holdings (GVC) 669.50p -0.37%
Smith & Nephew (SN.) 1,431.50p -0.24%
Auto Trader Group (AUTO) 456.30p -0.15%
FTSE 250 - Risers
Metro Bank (MTRO) 1,198.64p 10.27%
Kaz Minerals (KAZ) 618.40p 4.21%
Bank of Georgia Group (BGEO) 1,588.20p 3.65%
IP Group (IPO) 109.80p 3.58%
PZ Cussons (PZC) 184.70p 3.24%
G4S (GFS) 202.00p 3.14%
Merlin Entertainments (MERL) 348.10p 2.96%
Royal Mail (RMG) 275.50p 2.76%
Hays (HAS) 154.70p 2.65%
Hastings Group Holdings (HSTG) 215.00p 2.48%
FTSE 250 - Fallers
TalkTalk Telecom Group (TALK) 103.60p -7.17%
Renishaw (RSW) 4,444.00p -4.84%
Greencore Group (GNC) 185.10p -3.50%
Jupiter European Opportunities Trust (JEO) 698.00p -3.46%
Funding Circle Holdings (FCH) 312.00p -3.13%
Greencoat UK Wind (UKW) 130.90p -2.99%
Superdry (SDRY) 504.00p -2.33%
Sophos Group (SOPH) 330.00p -2.14%
Syncona Limited NPV (SYNC) 263.50p -2.04%
Premier Oil (PMO) 72.45p -2.03%