FTSE lacks fizz early on New Year's Eve

Tue, 31st Dec 2019

The FTSE 100 looked set for a downbeat finish to 2019, down 0.3% to 7,562.12 early on New Year's Eve. This followed a similarly weak showing in the US overnight. Mining firm Evraz was the biggest faller on the index, down 2.7% at 390.6p, while JD Sports was the biggest riser, ticking up 1.2% to 842.2p. For the year as a whole the FTSE is on course to be materially higher, having started 2019 around the 6,700 mark. FTSE 250 property investor CLS gained 2.2% to 304p as it announced the sale of a portfolio of 19 regional offices in the UK for an aggregate cash consideration £65m to Elite Capital Partners, a Singaporean investment firm. Mobile commerce firm Bango fell 6.8% to 127.2p as it said revenue for 2019 would be below expectations due to a Customer Data Platform (CDP) license and Marketplace supply deal not concluding in December as expected. Real estate investor Regional REIT gained 0.1% to 113.5p on the acquisition of an office asset in a Scottish business park for a total consideration of £10.3m. Drug discovery and development firm Redx Pharma advanced 23.8% to 8.2p as it said it is in discussions over a possible cash offer from an investor group led by biotech industry figure Sam Waksal. The company is currently seeking funding to take its lead cancer drug to the next stage of clinical trials and is asking shareholders to convert a £2.5m loan for its largest shareholder into shares at 5.25p. Story provided by StockMarketWire.com

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