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Pound and FTSE 100 head higher | |
(about 4 hours later) | |
(Noon): The FTSE 100 rose, with shares in Kingfisher up after "solid" first-quarter sales, while the pound jumped after the latest EU referendum poll. | |
By midday, the FTSE 100 index was up 46.44 points at 6,182.87. | |
Screwfix and B&Q owner Kingfisher rose 2.3% after it reported an increase in first-quarter sales to £2.7bn. | |
Kingfisher said it had seen a "solid" start to the year with like-for-like sales up 3.6%, with Screwfix sales up 16.2%. | |
In the UK and Ireland sales rose 6.2%, helped by a 16.2% jump at Screwfix. | In the UK and Ireland sales rose 6.2%, helped by a 16.2% jump at Screwfix. |
However, in France, where its brands include Castorama and Brico Depot, like-for-like sales edged up just 0.2%. | However, in France, where its brands include Castorama and Brico Depot, like-for-like sales edged up just 0.2%. |
In the FTSE 250, shares in Entertainment One - the firm behind the Peppa Pig children's TV series - fell 1.4% despite it reporting a 9% rise in full-year profits £48m. | |
On the currency markets, the pound rose sharply after a poll in the Daily Telegraph suggested the "Remain" camp was well ahead of the "Leave" campaign ahead of the EU referendum. | |
Sterling continued to gain as Bank of England governor Mark Carney appeared before the Treasury select committee. | |
The pound was up by more than one cent against the dollar at $1.4602, and rose by more than one and a half euro cents against the euro to €1.3062. |