Mothercare Share News (MTC)

LONDON (Alliance News) - The FTSE 100's gains accelerated as the session progressed on Monday, the dollar-earner heavy index boosted as the pound tumbled on the resignation of UK Foreign Secretary Boris Johnson.Johnson's resignation came less than 24 hours after the departure of David Davis from his Cabinet role of Brexit secretary.Among London's blue-chip stocks, Just Eat ended higher as RBC raised the online takeaway platform to one of its Top Picks, and BHP Billiton gained on a Reuters report that BP is in pole position to acquire its US onshore shale oil and gas assets.The FTSE 100 index closed up 0.9%, or 70.29 points at 7,687.99. The FTSE 250 ended up 1.0%, or 202.82 points, at 20,821.16, and the AIM All-Share closed up 0.5%, or 4.96 points, at 1,091.94.The Cboe UK 100 ended up 1.1% at 13,042.98, the Cboe UK 250 closed up 1.0% at 19,014.47, and the Cboe Small Companies ended down 1.0% at 12589.04.It was a volatile day for the pound, which rose initially on news of the resignation of Davis with investors hoping the UK government is on course for a softer Brexit. However, sterling soon pared these gains after Johnson resigned, less than 24 hours after Davis.Davis announced his departure just before midnight on Sunday, writing in his registration letter that the government's proposals for close trade and customs ties would leave the UK in "at best a weak negotiating position, and possibly an inescapable one."This came after Prime Minister Theresa May secured senior ministers' agreement at Chequers for a Brexit plan on Friday, including an offer to Brussels to share a "common rulebook" on goods and form a new UK-EU free trade area.There was growing speculation about Johnson's plans on Monday after he failed to attend a meeting of the government's Cobra emergencies committee as well as a summit of Western Balkan nations being held in London.On Monday afternoon, a statement was issued by Downing Street: "This afternoon, the prime minister accepted the resignation of Boris Johnson as Foreign Secretary. His replacement will be announced shortly. The prime minister thanks Boris for his work."The pound was quoted at USD1.3244 at the London equities close Monday - having risen to an intraday high of USD1.3363 prior to his departure - compared to USD1.3261 at the close on Friday."Whilst David Davis' resignation was no threat to May's leadership, Johnson's resignation provides Conservatives with an alternative leader. The next few hours will be critical for Theresa May as she fights for her political life," said Fiona Cincotta, senior market analyst at City Index."May's session in the commons today will be watched closely by traders as she faces the fury of her Conservative party over a softer Brexit," Cincotta added.In European equities on Monday, the CAC 40 in Paris ended up 0.4%, while the DAX 30 in Frankfurt ended up 0.4%.The euro stood at USD1.1748 at the European equities close Monday, against USD1.1739 at the same time on Friday.Figures on Monday showed Germany's seasonally-adjusted trade surplus grew to EUR20.3 billion in May, higher than the EUR19.4 billion last month and the consensus EUR20.0 billion forecast.Exports rose 1.8% month-on-month in May, above forecasts to rise 0.7% after a 0.3% decline last month. Imports, however, rose just 0.7% on month in May after climbing 2.6% in April. This was slightly above a widely-expected 0.5% rise.Stocks in New York were higher at the London equities close, with the Dow Jones up 1.1%, the S&P 500 index up 0.7%, and the Nasdaq Composite up 0.5%. In commodities on Monday, Brent oil was quoted at USD77.95 a barrel at the London equities close Monday from USD76.95 late Friday.Meanwhile, gold was quoted at USD1,260.90 an ounce at the London equities close Monday against USD1,255.42 at the close on Friday.Among the best performers in the FTSE 100 on Monday was Just Eat, boosted as RBC raised the online takeaway platform to one of its Top Picks. The stock closed 2.7% higher.Others to be lifted to Top Pick status included FTSE 250 constituents Premier Oil, Weir, and Drax, as well as AIM market's ASOS. The stocks ended up 8.8%, 4.4%, 2.7% and 2.0%, respectively.Back in the FTSE 100, BHP Billiton closed 2.7% higher after Reuters reported that BP is in the lead to acquire the Australian miner's US onshore shale oil and gas assets after submitting an offer in excess of USD10 billion. A deal could be reached in coming weeks, Reuters said, citing people familiar with the matter. BP finished 1.0% higher.In the FTSE 250, Stobart Group closed 3.9% higher after it said over the weekend its former chief executive had been re-elected but was then immediately dismissed.A majority of shareholders, 51%, voted Andrew Tinkler back onto the board at the company's annual general meeting on Friday, the results of which were delayed until Saturday evening. However, the company's directors subsequently removed him from this position."The board maintains the view that, notwithstanding the support of certain shareholders, given the seriousness of his breach of fiduciary duty and the impending court cases against him [Tinkler], it would not be in the best interests of the company for him to act as a director," said Iain Ferguson, who was re-elected as chairman.At the bottom of the index was gold miner Centamin, losing 3.2%.For the three months to June 30, Centamin produced 92,803 ounces of gold compared to 124,641 a year ago. For the first half of 2018, production fell 7% year-on-year to 217,099 ounces from 233,828 ounces.Elsewhere on the Main Market, Mothercare closed down 5.9% at 27.50 pence after the baby and parents product retailer said it is seeking to raise GBP32.5 million through a placing and open offer priced at 19p per share, a 34% discount to Friday's closing price.The retailer also said it will shut down 60 UK stores under its company voluntary arrangement, which has now become effective with no challenges have been made or filed with the High Court.In the economic events calendar on Tuesday there is UK like-for-like retail sales figures from the BRC at 0001 BST, China inflation readings at 0230 BST, UK industrial and manufacturing production data at 0930 BST and South Africa business confidence at 1030 BST. In the UK corporate calendar Tuesday there are half-year results from online grocer Ocado Group and trading statements from veterinary medicines maker Dechra Pharmaceuticals and construction company Kier Group.