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London Market Report London Market Report
(about 4 hours later)
(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. (Close): Royal Mail was the biggest faller on the London stock market on Wednesday after it emerged that its French subsidiary, GLS, was 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. Shares in the firm were down 1.88% 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 74.22 points, or 1.11%, at 6,784.67.
Biggest riser was aerospace engineer Meggitt, up 9.1% on rumours of a possible takeover bid. Biggest riser was aerospace engineer Meggitt, up 9.57% 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 0.1% against the dollar at $1.7127, but it was 0.2% higher against the euro at 1.2661 euros.