FTSE Close: FTSE 100 edges higher despite uninspiring day

London’s main stock market index, the FTSE 100, managed to eke out a small gain on Tuesday, closing up just 0.1% at 7,646.16. However, the broader market lacked direction, with the FTSE 250 gaining marginally and the AIM All-Share dipping slightly.

Mining companies lead the pack, with shares in Fresnillo and Endeavour rising over 3%. Meanwhile, Intertek jumped 6.2% after reporting a rise in revenue and pretax profit for 2023. On the flip side, Ashtead’s stock plummeted 9.4% following a profit drop in their latest quarter.

Daily Recap

The biggest gainer of the day came from the FTSE 250. Spirent Communications soared 59% after agreeing to a £1.01 billion takeover by Viavi Solutions. This all-cash deal highlights continued activity in the tech M&A space.

Daily Risers and Fallers

FTSE All-Share risers: Spirent 63.28%, Oxford Biomedica 13.64%, Reach Plc 13.12%, Trustpilot 8.38%, Keller 7.31%, Aptitude 6.25%, Intertek Group 6.15%, Hochschild 5.4%, Hiscox 5.35%, Centamin PLC 5.22%.

FTSE All-Share fallers: Ashtead Group -9.36%, Inchcape -8.23%, Nb Global -6.91%, Aston Martin Lagonda -6.06%, Phoenix Spree D -5.23%, PureTech -5.14%, Oxford Instruments -5.02%, Wincanton -4.65%, Dr. Martens -4.26%, Residential Sec -4.25%.