Tue, 28th Nov 2017
The FTSE 100 slipped by 25.74 points - a fall of 0.35 percent, during Monday afternoon’s trading. The biggest gainer on the index was GlaxoSmithKline, who gained 1.77 percent after UBS lifted its rating from ‘neutral’ to ‘buy’.
EasyJet was another strong performer - gaining 1.47 percent after it earned a rating upgrade from Paribas.
Meanwhile, shares in Aviva increased by 0.62 percent, after a report in the Sunday Times indicated that the insurance company was planning a £1 billion share buyback.
Education company Pearson was one of the poorer performers of the day, losing 2.05 percent after it said that it had sold its English teaching arm, Wall Street English, for $300 million. The company indicated that it wanted to focus on a smaller number of bigger opportunities, and focus on global education. The education firm has struggled in recent years and has had to issue several profit warnings. In March it reported that it had recorded a loss of £2.6 billion, after having to write down the value of US assets.
Meanwhile, outside of the FTSE 100, Patisserie Valerie owner, Patisserie Holdings, gained 8.37 percent, after reporting a 17 percent increase in full year profits, up to £20.2 million.
Shares in Ocado gained 7.33 percent, with traders responding positively to the prospect of the company striking a deal with ICA Gruppen.
In the currency markets, the pound traded relatively flat against the dollar (down just 0.05% to $1.3340), and gained 0.14 percent against the euro.