London share prices close higher

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Hornby rail modelImage copyright Getty Images
Image caption Model train firm Hornby announced the immediate departure of its chief executive

Share prices in London closed higher on Monday, with the FTSE 100 index ending the day 36 points up at 7,414 – a rise of just under 0.5%.

The shares showing the biggest increases on the day were the troubled money lender Provident Financial and the airline Easyjet,

Both were up by more than 3%.

In the FTSE 250 index, shares in troubled infrastructure firm Carillion fell nearly 2% after it announced a number of management changes.

That included the departure of its chief financial officer, Zafar Khan.

The company said Mr Khan would step down with immediate effect.

He is being replaced by Emma Mercer, the finance director of its UK construction business.

Back in the FTSE 100, shares in Associated British Foods were the biggest faller, dropping by 5% despite the group raising its full-year results outlook due to strong trading at its subsidiary Primark.

AB Foods said its adjusted operating profit would be “well ahead of last year”, after Primark enjoyed good trading in the run-up to Easter.

Shares in the toy model company Hornby rose by nearly 1% after the chief executive Steve Cooke said he would stand down soon.

He has been the boss of the troubled company for just over a year but seems to have fallen victim to his new bosses, the investment firm Phoenix which staged a sudden takeover of Hornby in July.

On the currency markets, the pound fell slightly to $1.317, and was up slightly at 1.102 euros.

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