StockMarketWire.com - Reports some MPs may be planning to oust Prime Minister Theresa May weighed on the pound, providing a boost to the FTSE 100 as 70% of the companies in the index generate earnings overseas.

Investors were concerned about the uncertainty that would follow if May resigned and the impact this would have on the currency.

The FTSE 100 advanced 0.2% to 7,522.

Brent crude oil slumped 2.6% to $55.53 per barrel. Gold was unmoved at $1,271 per ounce and copper cheapened 0.6% to $3.01 per pound.

OVERSEAS MARKETS

There was widespread weakness on Wall Street after the US Labor Department revealed the first monthly jobs decline since 2010. The S&P 500 was 0.2% lower at 2,545 on Friday.

MID AND LARGE CAP RISERS AND FALLERS

Budget airline easyJet (EZJ) warned that ticket prices would remain under pressure amid ongoing market capacity growth, causing the shares to retreat 1.1% to £12.69.

Defence business Ultra Electronics (ULE) announced shareholders at its US acquisition target Spartan approved the $325m takeover. The share price was broadly unmoved at £18.38 despite the takeover helping the company's position as the main supplier of sonobuoys for the US Navy.

SMALL CAP RISERS AND FALLERS

Cakes and chocolates developer Finsbury Food (FIF) decided to shut its loss-making Grain D'Or bakery and cautioned its adjusted profit performance will be achieved from a lower-than-expected sales base. Shares in the speciality food business declined 1.7% to 106.6p.

Car retailer Motorpoint (MOTR) sparked 4.8% to 142p after forecasting a 64% rise in first half profit, driven by an 18% rise in revenue.

There was good news for miner Lonmin (LMI), which received approval from its lending bank to acquire the Pandora joint venture, causing the shares to surge 15% to 85.1p.

Bowling operator Hollywood Bowl (BOWL) forecast full-year earnings to be marginally ahead of its forecasts, helping the stock gain 1.2% to 186.2p.

RWS Holdings (RWS) said revenues were expected to rise 33.6% to £163m in the year to 30 September and forecasted its 'best ever year,' triggering a share price rally of 8.1% to 427p.


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