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FTSE 100 bounces back at the open; Games Workshop jumps on trading statement - Market Report

FTSE 100 bounces back at the open; Games Workshop jumps on trading statement - Market Report

The FTSE 100 bounced back at the open, making up some of Tuesday's sharp losses.

The blue-chip index gained 50 points, or about two-thirds of a percent, to 8,809 in the first few minutes of trade.

Games Workshop jumped close to 8% after a short but sweet trading statement. The owner and licensor of the Warhammer tabletop game said trading in January and February was ahead of expectations across both its core business and licensing.

Making up lost ground, Barclays has jumped 6.6%, British Airways owner IAG is flying 4.2% higher and equipment hire group Ashtead is up 3.9%, all companies that fell sharply on Tuesday.

Meanwhile, the recommended takeover offer of Royal Mail owner International Distribution Services by Daniel Kretinsky’s EP Group is likely to be delayed until the second quarter of the year.

EP said in a statement that one final condition needs to be satisfied before the offer can be declared unconditional. That relates to clearance for foreign direct investment in Romania.

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