Rock­Rose eyes big deals

Oil and gas: Pro­ducer to be ‘sig­nif­i­cant’ player if ac­qui­si­tions com­pleted

The Press and Journal (Aberdeen) - - BUSINESS -

The FTSE 100 In­dex lifted to a two-week high yes­ter­day on the back of a weaker pound, which dropped fol­low­ing a down­ward re­vi­sion to UK growth fig­ures.

London’s blue-chip in­dex ended the day up nearly 0.7%, or 49.94 points at 7,372.76, its high­est level since midSeptem­ber.

It made gains on the back of a softer pound, as multi­na­tional firms on the FTSE 100 tend to ben­e­fit when for­eign cur­ren­cies are stronger than sterling. In UK stocks, trou­bled in­fra­struc­ture Pur­ple­bricks jumped 15.25p to 387.5p af­ter the on­line es­tate agent said it ex­pected to dou­ble hal­fyear rev­enue in the UK to £36mil­lion be­cause of good progress over the past few months.

In­surer Bea­z­ley rose 19.8p to 479.5p de­spite a profit warn­ing from the com­pany. It said an­nual earn­ings would take a £112mil­lion hit fol­low­ing At­lantic hur­ri­canes and earth­quakes in Mex­ico which are ex­pected to ramp up claims.

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