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UK shares higher as sterling falls | |
(about 4 hours later) | |
UK shares were trading higher by midday, but the pound was lower on the back of the latest economic data. | |
Shortly after midday, the benchmark FTSE 100 share index was up 37.32 points, or 0.5%, at 7,155.80. | |
Mining shares were among the top risers on the index, with BHP Billiton and Anglo American both up by more than 2%. | |
Sterling fell on the currency markets after figures from the Bank of England suggested that growth in personal borrowing stalled in December. | |
On the currency markets, the pound fell 0.2% against the dollar to $1.2465, and was down 0.8% against the euro at 1.1591. | |
The euro was boosted by the release of a raft of economic data that suggested the bloc's recovery was picking up pace. | |
Among individual shares in London, Ocado jumped nearly 10% after the online grocer reported a rise in full-year profits. | |
The company reported a 21.8% increase in pre-tax profits to £14.5m for the year to 27 November. | The company reported a 21.8% increase in pre-tax profits to £14.5m for the year to 27 November. |
Also in the FTSE 250, Britvic shares were up nearly 5% after the soft drinks company reported a 4.3% rise in first-quarter revenues. | |