Begbies Traynor, Petra Diamonds and Chapel Down

“The FTSE100 opened on the front foot after cautious gains in Asia overnight and a mixed US session on Friday with the market looking to eurozone manufacturing data out mid-morning,” says AJ Bell Investment Director Russ Mould.

“Fears that June’s Brexit vote would take its toll on British businesses have been allayed by insolvency specialist Begbies Traynor’s latest research. Its ‘Red Flag’ report, which monitors the financial health of companies, showed that levels of 'significant' distress fell in the third quarter as the economy showed resilience in the face of Brexit. it is still too early to tell what longer term impact the 'Leave' decision might have on the economy but businesses appear to be better placed to tackle any new challenges on the horizon ahead of the Government's Brexit negotiations.

“Petra Diamonds’ shares sparkled in early trading after first quarter output rose by 30%. Rough diamond prices remain flat compared with the second half of the last financial year but the group’s expansion programmes remain on track and new caves at the Cullinan and Finsch underground mines in South Africa are both starting to deliver undiluted ore. Petra Diamonds led the FTSE250 board with its shares up by more than 7.6%.

“Winemaker Chapel Down has been given the go-ahead to develop a brewery for its Curious Drinks beer and cider business on a 1.6 acre site in Ashford town centre. The site is next to the International station and just 38 minutes from Kings Cross. The group raised more than £1.7m earlier this year through a crowdfunding campaign and share placing for the proposed brewery which it sees becoming an icon for contemporary British brewing.”

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