London Market Report

Search company or market
Search company or market:
Refresh this page Launch Marketwatch ticker
London | Wall Street | Asia

(Close): Car and plane parts maker GKN was the biggest riser on the FTSE 100 at the close of trade after reporting a surge in profits.

The company's share price gained 7% on the strength of its first-half results, which showed a 6% increase in pre-tax profit.

Overall, the FTSE index closed up 19.68 points, or 0.29%, at 6,807.75.

Clothing retailer Next added more than 2% after the firm reported a half-yearly sales rise of 10.7%.

It also said it was raising its profit forecast for the second time in three months.

Commenting on the GKN and Next results, Patrick Butler from the broker Prime Wealth Group, said:

"In both cases, good numbers. Next has come out with another stunning set of numbers and sales are higher than anticipated," he said.

Wealth manager St James's Place was the among the biggest losers, down 2.8% despite reporting record funds of £47.6bn.

On the currency markets, the pound was down 0.26% against the dollar at $1.6939, and down 0.06% against the euro at 1.26730 euros.