Mining, transport and carpets

The FTSE 100 was virtually flat in early trading despite crude staging a mini comeback and gains in the US and Asian markets Attention is focused on today's press conference by the European Central Bank in Frankfurt.

“Mining giant Anglo American’s sweeping strategic overhaul in February seems to have steadied the ship with the group maintaining full year guidance following solid progress in the first quarter,” says AJ Bell Investment Director Russ Mould.

“The group is concentrating on lower cost and higher margin assets and investors are encouraged that the steps which have been taken are having a positive effect.

“Bus and rail operator Go-Ahead Group's full year expectations are unchanged after a satisfactory first quarter performance. Go-Ahead Singapore will begin operations in the third quarter and the group has made good progress in mobilising the business.

“United Carpets’ shares jumped after it forecast that full year results are likely to be ahead of market expectations. The improved trading performance seen in first half has continued into the second half with like-for-like sales up 6.4%.”

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