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Johnson Matthey jumps 15% after revealing battery plan | |
(about 5 hours later) | |
A big rise in the value of shares in the specialist metals and chemicals firm Johnson Matthey was the highlight of the London stock market on Thursday. | |
Its shares closed 15% higher at £4.32 after it announced plans to invest £200m in developing batteries for electric cars. | |
The firm said this might lead to more than $30bn in sales when battery driven cars accounted for 10% of all vehicles. | |
The FTSE 100 index closed eight points lower at 7,264. | |
In the FTSE 250 market shares in the outsourcing group Capita fell 12% to £5.70 after it reported lower profits and gave a weaker than expected forecast. | |
The company said half-year pre-tax profits had fallen by 26% to £28m, after it sold its specialist recruitment arm and shut down its events operation. | |
However, it said that "underlying" profits were expected to "rise modestly" in the second half of the year. | |
Shares in Irish building materials firm CRH rose 2.4% after it agreed to buy the US cement maker Ash Grove Cement for $3.5bn (£2.6bn), in order to expand in North America. | |
On the currency markets, the pound rose 0.5% against the dollar to $1.357 and was barely changed at 1.136 euros. |