Business

FTSE 100 bolstered by ITV and UK growth data

Market trader (file picture) Image copyright Getty Images

(Close): London's main share index rose on Wednesday, helped by better-than-expected results from ITV and strong UK growth data.

At one point, the FTSE 100 touched its highest level since August last year, reaching 6,757.96, but closed slightly off that, 26 points higher at 6,750.43.

ITV shares jumped 8% to 199.26p after its latest results.

It said advertising revenue was set to fall 1% in the first nine months of the year, which was less than feared.

Shares in housebuilder Taylor Wimpey rose 6% to 153.84p after it said it had not been affected by last month's Brexit vote.

Pre-tax profits for the first half of the year rose 12% to £267m, and the company said "current trading remains in line with normal seasonal patterns".

"Customer interest continues to be high, with a good level of visitors both to our developments and to our website," said chief executive Pete Redfern.

Sentiment in the market was helped by the release of stronger-than-expected UK growth figures.

The UK economy grew by 0.6% in the second quarter of the year, according to official figures, faster than the rate of 0.4% in the previous quarter.

However, the data suggested growth was much stronger in April before easing off in May and June.

On the currency markets, the pound fell 0.27% against the dollar to $1.3095 and dropped 0.28% against the euro to €1.19230.