London’s top-flight index closed in positive territory today on the back of better-than-expected US economic figures.
The FTSE 100 was up 16.4 points to 5,825.8 after the Institute for Supply Management purchasing managers index rose to 55.1, where 50 marks growth.
Transport giant FirstGroup lost more than a fifth of its stock market value however, after a UK Government U-turn dealt a blow to its hopes of running the West Coast franchise. The FTSE 250-listed company saw shares plunge 21% or 50.6p to 193.4p, wiping more than £240million off its value.
One of the defeated parties in the earlier West Coast bidding process saw its shares rally 2%. Stagecoach has a 49% stake in Virgin Rail Group and is expected to be back in the frame when the franchise is re-let next year. Shares were 5.5p higher at 288.8p.
Elsewhere, the supermarket sector was in focus on the FTSE 100 after figures from Tesco and Sainsbury’s.
The latter’s shares were 2% or 5.7p higher at 352.5p after a 1.9% rise in like-for-like sales in the 16 weeks to September 29, but Tesco’s shares fell 8.8p to 328p after revealing a 12% decline in group pre-tax profits to £1.7billion in the six months to August 25.
The biggest Footsie risers were International Consolidated Airlines Group up 4.7p to 163.7p, Arm Holdings up 12p to 589p, Centrica 6.2p ahead to 334p and Vedanta Resources up 19p to £10.61.
The biggest Footsie fallers included Anglo American down 57p to £18.18, Weir Group 36p lower at £17.62 and Capita down 12.5p at 763p.
Steven McKay, of investment manager and financial planning specialist Brewin Dolphin in Aberdeen, noted that SSE closed 1.8% higher at 1416p, EnQuest added 0.52% at 115.3p and Standard Life rose 0.5% to 279p.
On the faller’s board today, Wood Group lost 0.49% to finish the day at 813p.