The Market Report with Katie Pilbeam.
FTSE 100 again shrugged off the events in Ukraine as huge payouts from Rio Tinto and Barclays diverted investors’ attention. The blue-chip index was up 43 at 7,537 in early trades.
Rio Tinto unveiled one of the biggest dividends ever seen in the UK. The mining giant is handing out an annual dividend of US$10.40 per share including a special of 247c, costing around US$16bn.
Barclays meanwhile is pay out £2.5bn after annual profits jumped to £8.4bn, nearly three times the previous year. The bank has also frozen shares worth £19mln that belonged to former chief executive Jes Staley.
Ted Baker sales jumped 35% in its fourth quarter in spite of omicron. Trading margins also improved with full price sales especially strong said the fashion clothing retailer.
Among the small caps, shares in Mirriad Advertising jumped more than 10% in opening deals after the in-content advertising company announced a surge in US revenues and a first major partnership in Canada. US campaign revenues jumped more than 800% during the 2021 holiday season compared to the year before, thanks to content on the Hallmark and Lifetime channels and the Super Bowl.
Union Jack Oil is advancing plans to pay dividends or make share buybacks in the future. The company said it has reviewed its operational and financial plans for 2022 and has the cash to pay out.
OKYO Pharma has been issued a US patent for its dry eye disease candidate (DED) OK-101. The key claim in the application covered the drug’s use to treat neuropathic pain.
