BUSINESS LIVE: Footsie climbs | Pingdemic shrinks Primark sales | Rolls-Royce sells stake to clear debt
The FTSE 100 climbed in morning trading today, with housebuilders and financial stocks leading the charge.
The leading UK stock market index was up 0.85 per cent, or 58.7 points, to 7,087.9 at 12.30pm, with builders Persimmon, Barratt, Berkeley and Taylor Wimpey all claiming spots in the top ten risers tables with share price gains of more than 2 per cent.
Phoenix, Lloyds Banking Group and Aviva were among the big name financial stocks making gains, while the FTSE 100’s biggest faller was Primark-owner Associated British Foods, which reported its bargain clothing price chain had seen sales sink 17 per cent below normal as the pingdemic dents the retail revival.
Primark profited as stores reopened, but said the pingdemic is now denting sales
Among other news, Rolls-Royce has sold its AirTanker stake for £189million to raise cash to pay down debts and Heathrow called for a shake-up of Britain’s travel rules to help the beleagured industry. Traffic numbers revealed it had slipped down the rankings of Europe’s busiest airports.