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FTSE 100 rises to nine-month high after OPEC deal
StockMarketWire.com
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The FTSE 100 rose to a nine-month on Friday after a jump in oil prices linked to a new OPEC deal helped boost energy stocks.
The index was up 0.7% at 0845 GMT to 6,531.23 points this, its highest since the Covid-19 crisis began in March.
SSE has entered into an agreement to sell a 10% stake in the first two phases of Dogger Bank Wind Farm to Italian energy giant Eni for an equity consideration of £202.5 million.
Shares were up 2.42% at £13.94
Real Estate developer Land Securities said it had exchanged contracts to sell 1 & 2 New Ludgate to Sun Venture for £552 million.
Its shares rose 0.74% to 717.40p.
Pets at Home Group will take a profit hit of £35 million after it announced it is repaying the £28.9 million of business rates relief received across the business during the Covid-19 pandemic.
The company said it was doing this as it is no longer be able to offset Covid-specific costs against relief.
Its shares slid 0.35% to 396.80p.
Associated British Foods said it expected Primark sales and profit to be higher this year even as it raised its estimate for lost sales owing to temporary store closures during the November lockdown.
Its shares climbed 1.29% to £23.32
Homebuilder Berkeley reported a fall in first-half profit on lower sales of homes owing to the impact of the lockdown earlier this year.
For the six months ended 31 October, pre-tax profit fell 16.6% to £230.8 million year-on-year as revenue fell to £895.9 million from £930.9 million.
Shares fell 3.52% to £46.82. Estate agency group Hunters Property confirmed media reports it had received a preliminary approach from The Property Franchise Group about a possible takeover.
Its share price moved higher by 43.59% to 84.00p.
Customised electronics maker DiscoverIE said it had acquired Limitor GmbH for up to €18 million.
Shares were up 3.21% to 578.00p.
X-ray screening systems supplier Image Scan reported a pre-tax profit of £113,000, compared with a loss of £2.4 million year-on-year as sales increased 50% to £3.5 million for the year ended 30 September 2020.
Its shares rose 6.98% to 2.3p.
Story provided by StockMarketWire.com
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