Business

FTSE 100 closes up led by Easyjet

Traders in London Image copyright AFP

London's stock market was slightly ahead at the close of trade on Wednesday after sliding on Tuesday.

The benchmark FTSE 100 gained 29.6 points or 0.4% to reach 7,514.90.

Retailer Kingfisher was the worst hit, down 7%, after reporting a first-quarter drop in revenues of 0.6% on the back of weak trading in France.

But High Street retailer Marks and Spencer recovered from a fall at the start of trading and was finished the day 1.47% higher.

Babcock, which had been the biggest FTSE riser on Tuesday, was down 1%.

The fall came despite the support services group announcing a 7.6% rise in annual underlying pre-tax profit.

Other fallers included private hospital operator Mediclinic International, which lost 6.44%, miner Randgold Resources, down 1.45%, and packaging group Smurfit Kappa which shed 1.12%.

The biggest gainers were airline Easyjet, up 3.31%, travel group TUI, which gained 2.8%, water company Severn Trent, which gained 2.49% and advertising giant WPP, which was up by 1.67%.

On the currency markets, the pound was down 0.19% against the dollar to $1.2938 and was also down by a marginal 0.08% against the euro to 1.1583 euros.