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FTSE 100 makes slight gains heading into the weekend as sterling hits $1.40
StockMarketWire.com
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The FTSE 100 closed up 0.1% at 6,624.02 on Friday despite a currency headwind to its dominant overseas earnings as sterling hit the $1.40 mark
By 4.30pm UK time the S&P 500 was up 0.4% to 3,928.94, clawing back a good chunk of yesterday's losses.
NatWest reported an operating loss of £351 million for 2020, down from £4.2 billion pre-tax profit last year.
The bank said net impairment charges were £3.2 billion and announced it will pay a dividend of three pence per share.
Its shares rose 5.2% to 180.2p.
Warehouse landlord SEGRO reported a rise in pre-tax profit of 10.8% to £296.5 million for 2020.
It said revenue for the year fell to £431.7 million, down from £432.5 million in 2019.
Shares climbed 1.5% to 977.4p.
Daily Mail and General Trust said it had agreed to sell Hobsons, its EdTech business, in two separate transactions, for approximately $410 million. It also noted media speculation about an IPO of online used car platform Cazoo in which it has a 20% stake.
Its shares climbed 21.3% to 946p
Real Estate investment company Civitas Social Housing said it had secured a new seven year interest only loan facility of £84.55 million from M&G Investment Management to support its growth plans.
The facility was priced at 2.75% above a fixed rate set by reference to the LIBOR swap rate of the loan term.
Its shares were up 0.9% to 108.6p.
Media platform Future upgraded its outlook on annual profit following a 'positive' start to the year. Its shares advanced 1.1% to £19.22, down materially from its highs for the day.
Care property investor and developer Assura said it had completed the acquisition of primary care developer Apollo Capital Projects Development.
Its shares moved higher by 1.4% to 74.2p.
The City of London Investment Trust reported first-half returns that lagged its benchmark as the company was underweight sectors that appreciated sharply.
For the half year ended 31 December, the company reported a pre-tax profit of £95.5 million, compared with a profit of £94.6 million year-on-year.
Shares rose 0.4% to 359p.
Georgia-based TBC Bank reported a fall in annual profit in the fourth quarter due to lower interest rates and limited lending growth due to the pandemic.
The bank said underlying profit fell to 322.5 million lari ($97.96 million) for the 12 months ending 31 December, down from from 540.3 million lari (163.23) million the previous year.
Its shares fell 6.1% to £11.46.
Insulation and building envelope business Kingspan reported a rise in profit in 2020, though said the ongoing increase in raw materials would continue and remain a challenge.
For the year ended 31 December 2020, pre-tax profit rose to €459.7 million from €454.4 million, while revenue slipped 2% to €4.6 billion.
Shares rose 10% to €62.70.
At market close:
(LON:DMGT) Daily Mail and General Trust PLC share price was 0p at 708p
(LON:FUTR) Future PLC share price was 0p at 2005p
(LON:KGP) Kingspan Group PLC share price was 0p at 79.75p
(LON:NWG) Natwest Group PLC share price was 0p at 147.5p
(LON:SGRO) Segro PLC share price was 0p at 924.4p
Story provided by StockMarketWire.com
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