Hill & Smith Share News (HILS)

LONDON (Alliance News) - The FTSE 100 ended higher on Monday, with China-exposed mining stocks gaining ahead of US-Sino trade talks to be held later in the week."Investors will be watching these bilateral trade talks closely as the two powers try to find some common ground in their escalating trade war, which is set to see more tariffs imposed on China as soon as Wednesday," said Fiona Cincotta, senior market analyst at City Index.Among other movers, housebuilders declined on soft August housing data while Sage ended as the biggest faller in the blue-chip index following a broker rating downgrade. The FTSE 100 index closed up 0.4%, or 32.67 points at 7,591.26. The FTSE 250 also gained 0.4%, or 86.79 points, at 20,531.15, and the AIM All-Share closed up 0.2%, or 2.42 points, at 1,080.55.The Cboe UK 100 ended up 0.6% at 12,880.57, the Cboe UK 250 also closed 0.6% higher at 18,660.21, and the Cboe Small Companies ended up 0.3% at 12,219.24.The pound was quoted at USD1.2761 at the London equities close Monday, up compared to USD1.2733 at the close on Friday."The FTSE 100 started the week on the front foot, helped by the recovery in global commodity prices, with oil, copper and gold all higher, as well as positive market sentiment ahead of US-Chinese trade talks in Washington later this week, which adds further strength to many of the China-exposed mining shares," said Artjom Hatsaturjants, research analyst at Accendo Markets.China and the US will hold lower-level trade talks this week, just before new US tariffs on USD16 billion of Chinese goods take effect.Commodity stocks were bolstered as metal prices rose on Monday, with steelmaker Evraz ending as the top performer in the FTSE 100, up 2.8% and miners such as Anglo American and BHP Billiton closing up 1.3% and 1.0% respectively. Copper was quoted at USD5,977.81 a tonne on Monday, up from USD5,934.00 late Friday.Gold was quoted at USD1,186.49 an ounce at the London equities close Monday against USD1,178.54 at the close on Friday. Gold miner Fresnillo ended the session 1.3% higher, tracking the price of the precious metal.In other commodities, Brent oil was quoted at USD72.14 a barrel at the London equities close Monday from USD71.67 late Friday.In European equities on Monday, the CAC 40 in Paris ended up 0.7%, while the DAX 30 in Frankfurt climbed 1.0%.In data from mainland Europe on Monday, eurozone construction output increased for the third straight month in June as it advanced 0.2% month-on-month. This was, however, slower than the 0.3% rise in May.On a yearly basis, growth in construction output accelerated further to 2.6% in June from 2.0% in the prior month, which was revised up from 1.8% reported earlier.Meanwhile, Greece on Monday emerges from its third and final bailout programme, ending eight years of EU and IMF loans that attempted to help the country out of its debt crisis.In 2015, Greece and its European creditors agreed to a third bailout package worth up to EUR86 billion under the European Stability Mechanism.Following a financial meltdown in 2010, international creditors including the International Monetary Fund saved Greece from national bankruptcy with a total of EUR289 billion in credit.But the bailouts were granted on condition that Athens implemented strict austerity measures, causing the average Greek income to drop by one quarter.The euro stood at USD1.1437 at the European equities close Monday, against USD1.1413 at the same time on Friday.Stocks in New York were mixed at the London equities close, with the Dow Jones up 0.3% and the S&P 500 index up 0.1%, but the Nasdaq Composite down 0.3%.Back on the London Stock Exchange, NMC Health closed up 1.5% as it posted a sharp rise in interim profit.The United Arab Emirates-focused private hospital operator said pretax profit rose 20% year-on-year to USD118.7 million as earnings before interest, taxes, depreciation and amortisation jumped 32% to USD225.5 million over the first half of 2018. Revenue rose by 20% to USD932.0 million from USD775.2 million.Sage ended as the worst FTSE 100 performer, slumping 7.0%. Deutsche Bank cut its rating on the accounting software provider to Sell from Hold, highlighting increasing competition facing the company.Similarly, DIY retailer Kingfisher ended lower after a broker downgrade, shedding 1.1% after Davy cut its rating on the B&Q owner to Neutral from Outperform.Housebuilders were also among those in the red on Monday, with Berkeley Group and Persimmon in the FTSE 100 both ending 1.1% lower, and Crest Nicholson in the FTSE 250 declining 1.4%.Rightmove - down 0.1% - on Monday said UK house prices dropped in August as more sellers entered the market during summer holiday season, with asking prices decreasing 2.3% month-on-month. This was particularly pronounced in London, with prices down 3.1%.Sellers who come to the market in the peak holiday season often have a pressing need to sell and price down accordingly, Miles Shipside, Rightmove director said.On a yearly basis, house prices increased 1.1% to GBP301,973.In the FTSE 250, Hill & Smith closed up 3.6% after Investec raised the galvanising services firm to a Buy rating from Add previously.G4S declined 1.2% after the UK Ministry of Justice assumed control of HMP Birmingham, one of Britain's largest prisons.The highly unusual intervention came as Chief Inspector of Prisons Peter Clarke warned that levels of violence were the highest for any local jail in the country, with some inmates saying they felt unsafe even behind locked cell doors - while perpetrators could act with "near impunity".G4S welcomed the move, saying the prison, which it has managed since October 2011, faces "exceptional challenges".Elsewhere on the Main Market, luxury fashion firm Mulberry tumbled 30% as it warned on its annual profit amid challenging UK retail conditions and a hit following troubles at department store House of Fraser.Mulberry, which operates in 21 House of Fraser's stores employing 88 workers, said it expects to incur GBP3 million in exceptional costs for the six months to September. House of Fraser earlier in August fell into administration, but was then bought out in a 'pre-pack' deal by Sports Direct International.Mulberry also highlighted challenging market conditions in the UK."If these sales trends in the UK continue into the key trading period of the second half of the financial year, the group's profit for the whole year will be materially reduced," the company said.In the corporate calendar on Tuesday are half-year results from precious metals miner Polymetal International, housebuilder Persimmon, and oilfield services firm John Wood Group. Late on Monday, at 2330 BST, are full-year results from miner BHP Billiton.In the economic calendar on Tuesday, UK public sector borrowing is at 0930 BST and the CBI industrial trends survey at 1100 BST. The latest Kantar Worldpanel grocery market share and inflation figures are due at 0800 BST.In the US, the Redbook index is at 1355 BST and API weekly crude oil stocks at 2130 BST.While Tuesday's economic calendar is light, investors are looking to minutes from the Federal Reserve and European Central Bank and the eagerly-awaited Jackson Hole gathering of central bankers in the US state of Wyoming later in the week.Fed Chair Jerome Powell is due to speak at the symposium on Friday.