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The FTSE 100 opened higher after the Easter break although uncertainty over Brexit, oil prices and the terror attacks in Belgium continue to curb investor confidence.
“Soft drinks group AG Barr’s full year figures showed plenty of fizz with profits rising by 7% and total dividends up 10%,” says AJ Bell Investment Director Russ Mould.
“One cloud on the horizon is Chancellor George Osborne’s proposed sugar tax but the group believes its combination of brand strength, ongoing product reformulation and consumer driven innovation will allow it to minimise the financial impact. The makers of Irn Bru expect two-thirds of its portfolio to be levy-free by the time the tax is introduced.
“Pharmaceutical giant AstraZeneca was up in early riser after its lung cancer drug Tagrisso (osimertinib) received approval in Japan. This follows recent approvals in the EU and the US.
“Faroe Petroleum’s shares also edged higher as the group reduced full year losses despite the slump in commodity prices Output from its main fields exceeded forecasts and the group completed its exploration drilling programme safely and under budget and doubled reserves, principally in Norway.”
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