Good start for FTSE
Positive updates from a clutch of blue-chip firms helped the London market make a good start to the week today.
Household products maker Reckitt Benckiser, mobile giant Vodafone and FT-owner Pearson were all among the biggest top flight risers as investors welcomed their latest news.
A positive close on Wall Street last week also contributed to the FTSE 100 Index rising 14.8 points to 5256.6 by mid-morning.
Reckitt Benckiser was leading the Footsie higher after beating expectations on second quarter profits and raising its net income guidance for the full year. Shares increased by more than 2% or 42p to 1707p.
Vodafone featured high up on the risers board, gaining 2p to 145.5p, after saying its UK operations had regained momentum and unveiling growth in first quarter overall revenues of 8.6%.
And Pearson cheered 1% or 6.5p to 647.5p after it reported a strong start to the year with underlying sales rising 10% in its first half.
Oil majors BP and Royal Dutch Shell were also driving the Footsie higher, up 13.5p and 29p to 639.5p and 1824p respectively.
In the lower tiers, there was mixed news from retailers as Woolworths and Monsoon shed light on the state of the high street.
FTSE 250 stock Woolworths lost 2% or 0.75p to 36p after reporting a 4.4% fall in same-store sales at its core chain in the 24 weeks to July 16 amid difficult trading conditions.
But Monsoon was heading in the opposite direction as investors overlooked cautious comments about the outlook for retailers to concentrate on a 34% hike in annual profits. Shares added 5p to 392.5p.
Elsewhere, Patientline lost a nearly a third of its market value after warning on earnings and revealed regulator Ofcom will investigate the price it charges for incoming calls to hospital patients. Its stock slumped 30% or 25p to 57p.
