SThree, Ortac and Landore

“The FTSE 100 hit an 11-month high and the FTSE 250 continued to rally post-Brexit as speculation the Bank of England would stimulate the economy through looser monetary policies boosted investor confidence,” says AJ Bell Investment Director Russ Mould.

Specialist staffing group SThree had a mixed first half. Continental Europe remained the group’s fastest growing region but the UK market was hit by uncertainty in the run-up to the EU referendum and results were also affected by tough trading conditions in the energy and finance sectors with a marked slowdown in global banking. The longer term impact of Brexit will start to become clearer as the group trades through the seasonally more important second half. Its shares were down by more than 4.5% in lunchtime trading.

Exploration group Ortac Resources’ shares soared after a court dismissed an appeal against approval of an underground mining application in Slovakia. Ortac has now navigated local opposition to the project with its application passing rigorous scrutiny by both the environmental office and the regional courts. Ortac was up by nearly 35%.

Landore Resources was also popular with investors following the sale of its non-core Root Lake lithium property in Ontario. Australian mineral explorer Ardiden has exercised its option to buy Root Lake in a cash and shares deal with Landore having a 3% net smelter royalty. Ardiden has the right to purchase half of the royalty for C$1m. Landore’s shares were up by almost 10%.

These articles are for information purposes only and are not a personal recommendation or advice.