StockMarketWire.com - Sterling weakened on the resignation of UK foreign secretary Boris Johnson after Brexit secretary David Davis' departure as investors worried about a leadership challenge against Theresa May.

The weaker pound boosted the FTSE 100, which rose 0.9% to 7,687.

Commodity prices remained strong, lifting miners and oil majors.

Brent crude oil surged 1.2% to $78 per barrel. Copper climbed 1.1% to $2.84 per pound and gold rose 0.6% to $1,262 per ounce.

Antofagasta (ANTO) gained 3.4% to 976p and BHP Billiton (BLT) increased 2.6% to £17.08.

Royal Dutch Shell (RDSB) advanced 2.1% to £27.56 and BP (BP.) added 0.9% to 584.6p. There were also reports that BP is interested in buying BHP Billiton's US shale unit.

MID AND LARGE CAP RISERS AND FALLERS

Directors at Southend Airport owner Stobart (STOB) dismissed ex-chief exec Andrew Tinkler after he was voted on to the board at Friday's AGM. Shares in the company rose 3.3% to 236.5p.

A decline in gold production at miner Centamin (CEY) hit the stock by 3.3% to 113.9p as low metal grades at its Egypt mine impacted performance.

Housebuilder MJ Gleeson (GLE) strengthened 3.4% to 790p after chief exec Jolyon Harrison and finance director Stefan Allanson both bought shares in the company.

Cairn Energy (CNE) revealed it will write down the value of its investment in Vedanta Resources as an India tax row rumbles on. Shares in Cairn Energy rose 2.4% to 238p.

SMALL CAP RISERS AND FALLERS

Embattled baby retailer Mothercare (MTC) announced a discounted £32.5m equity issue and hiked its planned store closures from 50 to 60. The shares were up 15.5% at 27.5p after an initial decline.

Shares in pharma company N4 Pharma (N4P) plummeted 53.6% to 10.6p on news its clinical trial results for its reformulation of sildenafil has not met key target endpoints at a preliminary stage.

Gift voucher supplier Park (PKG) sealed new deals with retailers Arcadia, Courtesy Shoes, Office Outlet, DJM Music and Fat Face. The stock advanced 2.1% to 74p.


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