The FTSE 100 is up this morning, boosted by some fresh data from the ONS that shows the UK returned to economic growth in April after shrinking in March. The attention of the market now turns to this afternoon’s interest rate call from the US Federal Reserve.
Plenty of equities news this morning, with Shell confirming it will raise dividends and increase buybacks ahead of today’s capital markets day, with shareholder distributions set to be boosted to 30-40% of cash flow.
Games Workshop shares jumped on the company’s report that revenues and pre-tax profits will be up for the year to May. Shares in Ladbroke’s owner Entain slumped meanwhile, after the company announced it had raised £600mln through a placing in order to try and buy Polish sports-betting firm STS.
Over in the US, Microsoft’s US$69mln bid to buy game maker Activision faces another problem after a judge temporarily blocked the deal on Tuesday.
And in small caps, Cornish Metals’ shares are up this morning after the firm reported good progress towards reopening the South Crofty tin mine down in Cornwall.