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London Market Report London Market Report
(35 minutes later)
(Open): Royal Mail was among the biggest fallers on the stock markets in Wednesday trading after it emerged that its French subsidiary, GLS, is facing an anti-trust inquiry. (Noon): Royal Mail was among the biggest fallers on the stock markets in Wednesday trading after it emerged that its French subsidiary, GLS, is facing an anti-trust inquiry.
By lunchtime, its shares were down 0.8% on news of a competition inquiry which could result in a "material" fine.By lunchtime, its shares were down 0.8% on news of a competition inquiry which could result in a "material" fine.
Overall, the FTSE 100 index was up 66.35 points, or 0.97%, at 6,775.80.Overall, the FTSE 100 index was up 66.35 points, or 0.97%, at 6,775.80.
Biggest riser was aerospace engineer Meggitt, up 9.1% on rumours of a possible takeover bid.Biggest riser was aerospace engineer Meggitt, up 9.1% on rumours of a possible takeover bid.
On the currency markets, the pound was down 0.11% against the dollar at $1.7124, but it was 0.12% higher against the euro at 1.2651 euros.On the currency markets, the pound was down 0.11% against the dollar at $1.7124, but it was 0.12% higher against the euro at 1.2651 euros.