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FTSE 100 flat but Ferguson boosted by results | FTSE 100 flat but Ferguson boosted by results |
(about 3 hours later) | |
Shares in plumbing supplies group Ferguson topped the FTSE 100 at midday after it reported rising profits and announced a £500m share buyback. | |
The firm - formerly known as Wolseley - reported an 8.6% rise in annual revenues at its ongoing businesses, with trading profit up 8.7% to £1.03bn. | The firm - formerly known as Wolseley - reported an 8.6% rise in annual revenues at its ongoing businesses, with trading profit up 8.7% to £1.03bn. |
Ferguson shares rose 4.75%, with the FTSE 100 up 4.17 points at 7,443.01. | |
Shares in bottling firm Coca-Cola HBC fell 2.4% after the company announced the death of its chief executive. | |
The company - one of the world's largest bottlers of Coca Cola - said Dimitris Lois had died on Monday. | The company - one of the world's largest bottlers of Coca Cola - said Dimitris Lois had died on Monday. |
Mr Lois had been on medical leave of absence since mid-September. The company said Michalis Imellos would continue in the role of acting chief executive. | Mr Lois had been on medical leave of absence since mid-September. The company said Michalis Imellos would continue in the role of acting chief executive. |
Shares in Greggs were 1.1% higher after the High Street baker reported rising sales. | |
In the three months to 30 September, total sales grew 8.6% with like-for-like sales up 5%. However, Greggs added that rising food ingredient costs were a "headwind". | In the three months to 30 September, total sales grew 8.6% with like-for-like sales up 5%. However, Greggs added that rising food ingredient costs were a "headwind". |
On the currency markets, the pound dipped 0.1% against the dollar to $1.3257 and fell 0.3% against the euro to €1.1278. |