- The FTSE 100 bounced back from trade war concerns and on the back of positive US trading overnight, rising 0.6% to 7,590 around midday.

Utility companies were among the top performers, led higher by Severn Trent (SVT), up 1.8% at £20.11. United Utilities (UU.) gained 1.3% to 773p and British Gas owner Centrica (CNA) added 1.5% to 161.2p.

The market apparently relaxed about new rules on dividends and executive pay from water regulator Ofwat.

Other noticeable risers were cigarette sellers British American Tobacco (BATS) and Imperial Brands (IMB), which both moved over 2% higher each.

Brent crude oil rose 1% to $78 per barrel. Copper climbed 0.3% to $2.94 per pound and gold glittered at $1,244 per ounce.

UK construction output growth hit a seven-month high in June as Markit's Purchasing Managers' Index advanced from 52.5 in May to 53.1. A reading over 50 implies growth while one under 50 suggests contraction.


Miner Glencore (GLEN) slumped 9.1% to 317.6p after receiving a subpoena from the US Department of Justice to produce document to comply with the Foreign Corrupt Practices Act and money laundering statutes.

Ferrexpo (FXPO) shed 2.1% to 179.5p following a decline in pellet production in its second half of 2018 compared to the same period last year.

Hungarian airline Wizz Air (WIZZ) unveiled strong passenger numbers for June, helping the shares fly 1.3% higher to £35.37.

Elsewhere in the sector, Ryanair (RYA) reported it carried 7% more passengers in June despite thousands of customers suffering cancellations following strikes by air traffic controllers. The stock was flat at €15.65.

Paragon Banking (PAG) added 9.1% at 513p on its acquisition of Titlestone Property Finance for £48m.

Fashion retailer Asos (ASC) appointed former ITV chief exec Adam Crozier as chairman, pushing the shares 1.7% higher to £62.26.


Personal care products manufacturer McBride (MCB) announced its second profit warning this year after revealing full year pre-tax profit will be marginally lower than analyst expectations. Shares in the company fell 6.2% to 123.8p.

Car seller Marshall Motor (MMH) accelerated 0.9% to 168p after announcing its full year outlook is at the upper end of expectations thanks to a tighter control on costs and the closure of several loss making sites.

The success of Jurassic World Evolution was good news for video game developer Frontier Developments (FDEV) as it implies it could hit the upper end of market forecasts if the game continues to sell well. Shares in Frontier jumped 5.4% to £14.38.

Utilitywise (UTW) rallied 19.8% to 33.4p on collaboration with Vodafone (VOD) and computer firm Dell to launch an Internet of Things energy and building management platform.

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