The FTSE 100 started to rebound from weakness in global markets on Monday as the blue-chip index rose 0.4% to 7,539 around midday, supported by strong utility companies.

United Utilities (UU.) and British Gas owner Centrica (CNA) gained over 1% apiece. They were followed higher by Severn Trent (SVT) and SSE (SSE).


Satellites network operator Inmarsat (ISAT) lost 9.8% to 570.2p after Eutelsat decided it was no longer considering a takeover bid, less than a day after considering one.

Oil services company Petrofac (PFC) revealed a 5.9% rise in new order intake and said it was trading in line with expectations thanks to higher demand. Investors took profit following the company's strong share price run as the stock retreated 1.9% to 526p.

Silver producer Polymetal (POLY) launched its Kyzyl mine in Kazakhstan ahead of schedule and below budget, pushing the shares 1% higher to 665.6p.


Embattled Carpetright (CPR) tumbled into the red in the year to 28 April as underlying sales continued to fall. The floor coverings retailer blamed warm weather and stock shortages for the underwhelming trading. The stock shed 3.3% to 29p.

Exhibitions company ITE (ITE) plummeted 42.5% to 80.3p but this reflected the share price adjusting to a big rights issue to fund ITE's purchase of certain assets from Ascential (ASCL).

Cluff Natural Resources (CLNR) confirmed it is currently considering additional funding by issuing new shares to accelerate the development of its enlarged portfolio of assets. This was not welcome news for the market as the shares dropped 14% to 2.1p.