HSTG.L Share News (HSTG)

LONDON (Alliance News) - The FTSE 100 climbed on Tuesday as it rebounded from Monday's fall, though losses for miner Glencore ensured London's blue-chip index lagged the performance of its European counterparts.The FTSE 100 index closed up 0.6%, or 45.44 points at 7,593.29 - having closed down 1.2% on Monday. The FTSE 250 ended up 0.3%, or 59.36 points, at 20,665.22, and the AIM All-Share closed up 0.3%, or 3.20 points, at 1,079.54.The Cboe UK 100 ended up 0.3% at 12,851.52, the Cboe UK 250 closed up 0.2% at 18,890.04, and the Cboe Small Companies ended down 0.3% at 12,603.2.In European equities on Tuesday, the CAC 40 in Paris ended up 0.8%, while the DAX 30 in Frankfurt ended up 0.9%."The FTSE would have likely been higher, however, if it weren't for a couple of factors. Firstly, the pound benefited from the best construction PMI for 7 months," said Spreadex analyst Connor Campbell.Campbell continued: "Secondly, and perhaps more pertinent, was the situation over at Glencore. The miner received a subpoena from the US Department of Justice related to possible money laundering, news that was greeted just as well as you'd imagine."The pound was quoted at USD1.3187 at the London equities close Tuesday, compared to USD1.3124 at the close on Monday.In UK data on Monday, IHS Markit and Chartered Institute of Procurement & Supply showed construction output grew at the fastest pace in seven months in June.The construction Purchasing Managers' Index rose to 53.1 in June from 52.5 in May. The latest reading pointed to the sharpest rise in construction output since November 2017, with consensus forecasts having seen the figure unchanged from May.The survey showed that residential work remained the best performing area of activity. Commercial building also contributed to the stronger overall rise in construction output. Meanwhile, civil engineering activity rose only slightly in June.The euro stood at USD1.1658 at the European equities close Tuesday, against USD1.1601 at the same time on Monday.German Chancellor Angela Merkel and her coalition partners reached a compromise deal to end a standoff over migration policy on Monday.After hours of negotiations, the Christian Social Union and Christian Democrats agreed to set up transit centers on the German side of the border with Austria. That would allow German authorities to speedily process applicants and, if they are rejected, repatriate them to their EU arrival country if that state consents.Horst Seehofer, leader of Bavaria's Christian Social Union, said that he would continue in his post following the compromise deal.However, Germany's centre-left SPD party is to decide Tuesday whether to go along with the migration policy plan.Stocks in New York were broadly higher at the London equities close, with the Dow Jones up 0.2%, the S&P 500 index up 0.1%, and the Nasdaq Composite down 0.1%. Markets in the US will close early on Tuesday, at 1pm local time, and will remain closed on Wednesday for the Independence Day holiday.In a move that could further inflame trade tensions between the US and China, President Donald Trump's administration has recommended blocking China Mobile from offering telecom services from within the US.A statement from the National Telecommunications & Information Administration, an agency of the US Commerce Department, attributed the recommendation to national security concerns.The decision by the NTIA comes amid an ongoing trade dispute between the US and China, with reciprocal tariffs worth billions of dollars on US and Chinese goods set to take effect on Friday.In commodities, Brent oil was quoted at USD76.74 a barrel at the London equities close Tuesday from USD77.78 late Monday.Gold was quoted at USD1,255.80 an ounce at the London equities close Tuesday against USD1,244.51 at the close on Monday.Gold miners were among the best performers in the FTSE 100, tracking the price of the precious metal as it rose off a near seven-month low of USD1,238.16 overnight.Fresnillo ended 2.1% higher, while Randgold Resources also closed up 2.1%.At the bottom of the index was commodity trader Glencore, losing 8.0% - though having pared earlier losses, quoted as much as 12% lower during the session.The miner said subsidiary Glencore Ltd has received a subpoena from the US Department of Justice to produce documents in compliance with the Foreign Corrupt Practices Act and US money laundering statutes.The documents relate to Glencore's businesses in Nigeria, the Democratic Republic of Congo and Venezuela since 2007. Glencore said it is reviewing the subpoena."The fear for investors is that the firm will likely be hit by a substantial fine if found guilty of fraud and money laundering, the size of which will be subject to significant speculation," said IG market analyst Joshua Mahony.In the FTSE 250, Paragon Banking ended 8.7% higher after the lender said it has agreed to buy the business of Titlestone Property Finance for GBP48 million, and a portfolio of development finance loans for GBP226 million from special purpose vehicles.Both are owned by funds ultimately controlled by Oaktree Capital Management.Hastings finished 6.7% lower after JPMorgan cut its rating on the insurer to Neutral from Overweight.Elsewhere on the Main Market, McBride lost 5.2% after it warned on its full year profit due to weak recent sales.McBride - which makes household and personal care products - said after disappointing sales in May and June it now expects adjusted pretax profit to be below market expectations. In Personal Care & Aerosols the company's loss will be larger than expected mainly due to lower revenue, but it expects the business to breakeven from July next year following the sale of UK Aerosol operations in Hull."The company clearly waited until the very end of the period to see whether profits might sneak in at the lower end of guidance. It wasn't to be. Results on 6 September will offer much more detail and of course fresh guidance on 2018/19 which could impact valuations and the share price again," said Michael van Dulken, head of research at Accendo Markets.On London's junior AIM market, ASOS closed 2.1% higher after the online fashion retailer said it will appoint Adam Crozier, formerly the chief executive of broadcaster ITV, as its new chair.In the UK corporate calendar on Wednesday there are trading statements from grocer J Sainsbury, recruiter Staffline Group, kitchen & bathroom tile specialist Topps Tiles, real estate investor McKay Securities and wealth management and employee benefits firm Mattioli Woods. In the economic events calendar on Wednesday there is UK shop price index data from the British Retail Consortium at 0001 BST. There are also services PMI readings from China, Italy, France, Germany, eurozone and UK at 0245 BST, 0845 BST, 0850 BST, 0855 BST, 0900 BST and 0930 BST respectively.