FTSE in positive territory
Thomson Holidays owner TUI Travel celebrated its recent promotion to the London market’s top flight with a gain of almost 2% today.
TUI lifted 5.5p to 297.25p, adding to gains secured on Monday following its elevation to the FTSE 100 Index.
The wider market was in positive territory, up 20.6 points to 6499.9 by mid-morning. However, a dearth of corporate news in the first full session since Christmas Eve meant trading volumes were light.
US markets – open on St Stephen's Day – also made slim advances overnight as investors stayed away.
With shoppers heading to the sales, retailers saw a mixed session amid reports of heavy discounting to attract interest.
Fashion retailer Next held firm at 1623p, while B&Q owner Kingfisher fell 1.5p to 147.1p. Argos firm Home Retail Group cheered 0.5p to 329p.
Marks & Spencer enjoyed slightly better fortunes, up 4.5p at 554.5p, but DSG International – the owner of Currys – was down 1p at 102p.
Royal Bank of Scotland provided one of the biggest gains of the session, up 8p to 451.5p after a newspaper report at the weekend said the banking giant had raised £1bn (€1.4bn) from recent property sales. Lloyds TSB followed its lead with a gain of 6.5p to 481.75p.
Oil prices edging close to 96 US dollars a barrel helped prop up the petrochemical majors. BP gained 2p to 619p, while Royal Dutch Shell was ahead 19p at 2099p.
Outside the top flight, UK Coal continued to rise following a speculative approach for its mining and power generation assets. The move by energy investor Meinl was rebuffed by UK Coal, but shares still rose amid hopes of further interest. The FTSE 250 Index stock stood almost 3% higher, up 12p at 462p.
