StockMarketWire.com - The FTSE 100 has started the new decade positively, nudging higher on the first day of trading in 2020, up 0.7% to 7,596.93.

Wealth manager Quilter followed the UK's flagship index, rising 0.5% to 161.85p after announcing the completion of the disposal of Quilter Life Assurance to ReAssure Group for a total cash consideration of c.£445m.

Tullow Oil has tumbled 6.9% to 59.54p after reporting a discovery at its Carapa-1 exploration well.

The company said it had encountered approximately four metres of net oil pay based on preliminary interpretation, lower than pre-drill forecasts.

CRH has bounced 1.5% to £30.90 after confirming that Richie Boucher has become chairman of the board.

Boucher officially took over as chairman on 1 January 2020, succeeding N. Hartery who stepped down from the board on 31 December 2019.

Intellectual property business IP Group has climbed 3.2% to 73.30p on the news that its portfolio holding Oxford Nanopore has completed a £109.5m financing and it will realise £22m cash from a partial sale of its holding in the business.

IP Group also announced that cash realisations during 2019 totalled more than £75m compared to the £30m achieved in 2018. Story provided by StockMarketWire.com