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Market Wrap - Market Open

FTSE 100 posts strong gains after ITV impresses

26 July 2017 08:59

The FTSE 100 gained 0.77% to 7,434.82 on Wednesday morning, with ITV (ITV) leading the increase.

The broadcaster said a drop in pre-tax profits in the six months to 30 June, from £425 million to £381 million, was as expected and increased the interim dividend by 5%. ITV shares gained 4.15% to 183.2p.

Pub and brewery Marston's (MARS) fell 3.4% to 177.3p despite like-for-like sales continuing to be ahead of the market.

Tullow Oil (TLW) swung to a pre-tax loss of $519 million in the first half from a profit of $24 million a year earlier. Sales revenue grew by 46% to $788 million, but it was hit by impairment costs of $642 million owing to weak oil prices. Nevertheless, the stock gained 3.7% to 159.4p.

GKN (GKN) slipped 2.4% to 318.8p after reporting organic sales growth of 5%.

Compass (CPG) saw organic revenue growth in the third quarter of 3.9%, with strong net new business in North America, good progress in Europe, and a challenging - but improving - environment in Rest of World. It gained 1.8% to 1,627p.

Antofagasta's (ANTO) group copper production for the first six months of the year rose to 346,300 tonnes - 7.1% up on a year ago - helping the stock add 0.32% to 954p.

Huntsworth's (HNT) headline profit before tax rose by 58% to £10.0m in the six months to the end of June with revenues up 9% at £94.2m. This boosted the share price by 2% to 63p. Story provided by

Related Company: ITV

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