Hellman's and Unilver make early gains on FTSE
on 25/10/2012 08:58:03
Shares in the household goods firm rose 3% amid a better session for the wider London market, with the top flight 33.2 points higher at 5837.6.
This was despite a fall of 3%, or 24.25p to 783.75p, for advertising and marketing giant WPP after it cut its full-year growth outlook due to fears over the prospects for trading in the United States and Europe.
Most other blue-chip stocks were on the front foot, with Barclays up 3.45p to 233.35p and Lloyds Banking Group ahead 0.7p to 41.2p. Unilever was 72.5p higher at 2337.5p after it reported a better-than-expected 5.9% rise in underlying sales growth for the quarter to September 30.
Debenhams surged to the top of the FTSE 250 Index risers board after it reported a 4.2% rise in pre-tax profits to £158.3 million for the year to September 1. The figures, which were better than expected, were accompanied by plans for another 17 stores over the next five years. Shares jumped 7%, or 7.3p to 116.3p, and helped other retail stocks to make headway.
They included JD Sports Fashion, which lifted 13.75p to 329.85p, and Dixons Retail Group with an improvement of 0.2p to 20.9p.