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Ashtead Group leads FTSE 100 higher | |
(about 3 hours later) | |
(Noon): The market rose, regaining some of the ground lost on Tuesday when it fell 2% on worries about the situation in Greece. | |
In lunchtime trade, the FTSE 100 index was up 7.94 points at 6,537.41. | |
Ashtead Group was the biggest riser on the index, climbing 8.8% after the equipment hire firm raised its full-year profits guidance. | |
Ashtead's half-year profits rose by a third to £266m, and it said full-year results would be above forecasts. | |
BG Group rose at first but then fell back to stand 0.4% lower after it announced it had sold an Australian pipeline network for $5bn (£3.2bn). | BG Group rose at first but then fell back to stand 0.4% lower after it announced it had sold an Australian pipeline network for $5bn (£3.2bn). |
After falling 6.6% on Tuesday following a profit warning, Tesco shares steadied, edging up 0.1% to 175.10p. | After falling 6.6% on Tuesday following a profit warning, Tesco shares steadied, edging up 0.1% to 175.10p. |
In the FTSE 250, shares in Stagecoach fell nearly 8% after the transport group said it had lowered its expectations of operating profits from its regional UK bus and US operations. | |
However, Stagecoach added that this should be offset by the share of profit it expects from Virgin Rail Group. | However, Stagecoach added that this should be offset by the share of profit it expects from Virgin Rail Group. |
Shares in home shopping group N Brown jumped 7% after the company said sales had risen in October and November after a fall in September. | |
Serco shares were up 4% after the outsourcing group said it had signed a new five-year contract to continue providing services to the Australian immigration services. | |
On the currency markets, the pound rose 0.07% against the dollar to $1.5679, and climbed 0.11% against the euro to €1.2675. |