Reckitt helps Footsie push through 7,700

The FTSE 100 broke through 7,700 on the back of a bumper share boost for Reckitt Benckiser.

The consumer goods giant was the top riser on the index, with its shares surging 8 per cent after the company said its infant baby formula business had lifted sales.

Ken Odeluga, market analyst at City Index, said: “Strong corporate updates from Reckitt Benckiser, Pearson and BT offered support to the FTSE 100 index, as did a weaker pound.

“After a run of bad news for the firm, stronger than forecast sales and an improved outlook reminded investors of what Reckitt Benckiser was capable of before its series of one off disasters across the year including a cyber-attack and failed Scholl footcare launch.”

Reckitt Benckier’s success helped lift the FTSE 100 by 38.14 points overall, and seeing it close the session at 7,701.31.BT’S shares were in demand when the telecoms giant unveiled better-than-expected sales figures. Shares closed 5 per cent or 11.15p higher at 236p.

Oil giant BP said it was buying BHP Billiton US shale gas assets in a £8 billion deal, helping lift shares 2.8p to 567.3p.

The move will see BP acquire BHP’S Petrohawk Energy subsidiary - which holds a raft of assets the oil firm is keen to take over.

Investors are rewarding Pearson for its turnaround efforts, boosting its shares 33.6p to 957.4p over the session after the company announced a rise in profit.

The publisher made an operating profit of £233m, up from £16m during the same period last year, boosted by the sale of a teaching unit.