Tension Grows Between US and North Korea, Hampering FTSE
The FTSE 100 slipped by more than 42 points during early trading, as tension grew between Washington and Pyongyang. The sector hardest hit was the miners, with Anglo American losing three percent.
Closer to home, Royal Mail shed 1.9 percent, after threats of industrial action surfaced due to talk of changes to the company’s pension scheme.
Meanwhile, shares in Reckitt Benckiser climbed by 1.3 percent, in anticipation of the company’s first-quarter numbers.
In the lower indicies, Motif Bio gained a stunning 21 percent after reporting that it had successfully negotiated the first of two phase 3 trials for a new next-generation antibiotic. The announcement also helped to boost Amphion Innovation by 27 percent, because the company is a major investor in Motif.
Secure Property Development and Investment PLC, a company focused on south-eastern Europe, gained almost 25 percent after it said that it had signed a new deal in Romania, which would increase the company’s net rental income by around 10 percent.
Meanwhile, Sound Energy PLC announced that it will soon be starting work on two wells in Sidi Moktar Morocco - the second gas asset that it has started developing in the country. The company confirmed that it will be going it alone exploring Sidi Moktar, instead of bringing in a partner, and reports that it has a strong enough financial position to do this. Meanwhile Green Dragon Gas Ltd announced that its plans to expand the operation in the Qinshui Basin have been approved by the Consultation Center of China National Petroleum Corporation.