London’s blue chip stocks inched higher on the last day of trading before Easter.
FTSE was up more than 5 points to 6,815 despite US stocks finishing lower overnight and European markets struggling early due to Greek concerns.
Yesterday, Greece submitted its latest reform proposals with the aim of unlocking €7.2bln of bailout funds ahead of its €457mln payment to the IMF on April 9th.
On Footsie, the early gainer was retail bellwether Marks & Spencer (LON:MKS) which rose 5% to 558p.
Like-for-like sales in the fourth quarter rose 0.7% overall, in part due to soft comparative figures from last year.
Investec had expected a decline in like-for-like of 0.4% for the fourth quarter, an improvement on the 5.8% fall in third quarter, but the figures were much better.
Financial service company Hargreaves Lansdown (LON:HL) slipped 1.2% to 1,148p after being downgraded to ‘hold’ from ‘add’ by broker Numis.
Elsewhere, BT (LON:BT.A) warned it may face further price cuts after its expected EE purchase due to more competition in the mobile phone market. Despite the news shares nudged higher 1.75p to 443p.
Sweeteners firm Tate & Lyle (LON:TATE) climbed 1.4% to 616p as it confirmed its profit after tax is to be at the lower range of forecasts made in September.
Healthcare specialists BTG (LON:BTG) jumped more than 5% to 773p after it is said to have had another good year with revenue for the year ended 31 March 2015 higher than expected.
It was another difficult day for miners after yesterday’s hike in commodity prices including crude oil and gold continue to slip back today.
BHP Billiton (LON:BHP) shed 1.84% to 1,443p while Antofagasta (LON:ANTO) dropped 1.23% to 724p and Glencore rounded out the top five fallers, losing 1.3% to 280p.
In broker news, house builder Redrow (LON:RDW) has been downgraded by Swiss bank UBS to ‘Neutral’ from ‘Buy’. Shares dipped 1.25% to 355p.
Events marketer UBM (LON:UBM) has had its share price hiked by broker Liberum to 700p from 620p. Shares hovered around 528p.
In small caps, coal miner Cluff Natural Resources (LON:CNR) has been given more acreage for its projects in Firth of Forth. Shares jumped more than 10% to 4.1p.
Collectible items specialist Stanley Gibbons (LON:SGI) fell on a full year profit warning. Shares shed 11% to 236p.
Software firm Forbidden Technologies (LON:FBT) announced lower loses before tax to £3.63mln from £702,000 the year before. Shares were almost 22% lower to 7p.
Intellectual property company Tekcapital (LON:TEK) has added the licence of a patent for a non-invasive diabetes test. Shares jumped 7.25% to 22.25p.
After yesterday’s confusions, Quindell (LON:QPP) was lower again today, almost 3% to 130p. Shares in the firm had to be suspended after it misled shareholders about its profitability.
AIM new boys Motif Bio’s (LON:MTFB) shares were trading at a premium on its first day of trading.
Shares were placed at 20p as part of the flotation giving it a value just short of £22mln but have risen to 31p, raising £2.8mln.