According to StockMarketWire.com, Shell drops on Nigeria payments revelation

Airlines and miners kept the FTSE 100 in positive territory as Royal Dutch Shell (RDSB) acted as a drag on the index.

Leaked emails suggested knowledge of a Nigerian corruption scandal relating to an $1.3bn deal in 2011 went right to the top of the company. This prompted a 0.3% drop to £22.34.

Inflation was still at its highest level since September 2013 as it remained at 2.3% in March. Rising prices for essentials such as food, clothing and footwear mainly contributed to the high rate.

Brent crude oil slid 0.5% to $55.67 per barrel.

Gold rallied 1.6% to $1,271 per ounce, while copper struggled at $5,732 per tonne. 

OVERSEAS MARKETS

United Airlines was among the top fallers on the S&P 500 after a video revealed a passenger was dragged off an overbooked US flight.

The stock fell 4% amid outrage over the treatment of the passenger, while the overall index declined 0.7% on Tuesday. 

Geopolitical concerns over North Korea's missile programme subdued the majority of Asia's markets, with only China's SSE Composite in positive territory, up 0.6% on Tuesday.

FTSE 250 RISERS AND FALLERS

JD Sports Fashion (JD.) sprinted 4.4% higher to 424.6p on record final results for year to 28 January 2017. Revenues at JD Sports were up 31% on a year-on-year basis with profit before tax climbing an impressive 81% to £238.4m.

SMALL CAP RISERS AND FALLERS

Cambria Africa (CMB) dominated the small caps as its largest subsidiary Payserv Africa more than doubled profit after tax from $357,000 to $807,000 in the half year to 28 February. The stock soared 66% to 1.3p.

Kin Wellness, previously known as Fitbug (FITB) announced a customer renewal for wellbeing services with a large financial institution, which is expected to generate £70,000 of revenues this year. The stock was 25.6% higher at 0.1p on the good news.

The UK Department for Business, Energy & Industrial Strategy decided to initiate a public interest review into Sepura (SEPU) due to its commercial arrangements with UK government entities. The company was subject to a takeover bid by a Chinese company in January. Shares in the business slumped 7.7% to 12p.

Bank notes manufacturer De La Rue (DLAR) expected its full year underlying operating profit to be above the top end of the market consensus and sparked a share price jump of 7% to 662.5p.

Surveillance systems designer Synectics (SNX) was in the spotlight after winning a multi-million dollar contract to supply an integrated video and security management solution to a Philippines casino. Investors were feeling lucky as they marked the stock 12% higher at 227p.

An option agreement to acquire three lithium exploration projects pushed Arian Silver (AGQ) 18.4% higher to 0.9p. The business entered the agreement with Mexican subsidiary Arian Mexico.

Exploration firm Ironveld (IRON) impressed the market with two non-binding memorandum of understanding agreements. 

The deals were with Siyanda Inkwali Smelting Services to acquire a 100% interest in Siyanda Smelting and Refining, as well as an agreement to acquire a 70% stake in Power Alt.

Story provided by StockMarketWire.com