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FTSE back in the black after positive US cue

StockMarketWire.com

After struggling for direction for much of the day the FTSE 100 strengthened this afternoon, bolstered by a decent open on Wall Street.

By the close the index was up 0.35% at 6,963.12 with the S&P 500 in the US gaining 0.3% to 4,192.63 by 4.30pm UK time.

Educational publishing and services group Pearson gained 3% to 824.8p as its first-quarter sales grew 5% year-on-year, underpinned by online learning.

Pearson stuck to its previous annual guidance.

Publishing and events group Informa rose 3.7% to 570.6p following news that it had joined up with private equity firm Inflexion to acquire financial intelligence group Novantas.

Informa would contribute its existing FBX business, which had assets valued at $243 million, as consideration for the acquisition, and would end up owing 57% of the combined business.

Ingredients supplier Tate & Lyle rallied 6.1% to 802.8p, on confirming media speculation that it was mulling a potential separation of its food & beverage and primary products businesses.

Tate & Lyle said the separation may be done vie a sale of a controlling stake in the primary products business to a new long-term financial partner.

Engineering company IMI advanced 11.4% to £15.56, having upgraded its annual earnings guidance amid a strong first-quarter performance owing to improving trends across major end markets.

IMI was now expecting 2021 adjusted earnings per share of 81p-to-87p, up from 75p-to-82p prior.

Fashion retailer Superdry gained 2.6% to 294.5p on announcing the appointment of Peter Sjolander as its chairman, to replace Peter Williams.

Sjolander was chief of executive of fashion brand Helly Hansen between 2007 and 2015 and had since held senior advisory and non-executive roles, including working with private equity funds.

Polling and data company YouGov added 3.4% to £10.49 following news it had acquired open banking start-up Lean App, allowing it to add financial transaction data to its products and services.

Lean App had been acquired on a three year earn-out 'tied to enriching and expanding YouGov's data in the UK and US', the company said, without giving specific numbers.

Recruitment and training group Staffline gained 6% to 73.2p as its first-quarter underlying profit more than doubled, beating expectations and putting it on track to exceed its forecasts for the full year.

Digital transformation consultancy The Panoply rallied 7.6% to 270p on announcing that annual trading was 'strong' and ahead of its recently upgraded expectations.

Business consultancy Mind Gym firmed 3.9% to 135p after it said it expected to either breakeven or post a modest annual underlying profit -- its revenue having fallen by less than it had feared.

Going in the opposite direction was infection control product group Tristel, which sank 14.5% to 573p, having downgraded its annual profit guidance.

Tristel blamed lower-than-expected sales amid lower demand for patient examinations during the pandemic, and a rise in its cost base.

Story provided by StockMarketWire.com