Sunday, June 29, 2008

London Market Report : Latest

The London sharemarket was in good health at lunchtime, having topped the 5,600 level, ahead of an expected solid opening on Wall Street.

The FTSE 100 was up 127 points at 5,601on its highs for the day at 1340 GMT.

Hopes of another UK interest rate cut in December have kept London shares well supported.

Investors shook off a mixed batch of company news and gloomy figures from retailers.

There was more bad news on the high street from Storehouse, which is behind the BhS and Mothercare chains.

The group warned its full-year profits were likely to be lower than last year's.

Its shares lost 27p to 135p. Rival Debenhams lost 18½p to 353p.

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