FTSE 100 flat but Ferguson boosted by results
Shares in plumbing supplies group Ferguson topped the FTSE 100 at midday after it reported rising profits and announced a £500m share buyback.
The firm – formerly known as Wolseley – reported an 8.6% rise in annual revenues at its ongoing businesses, with trading profit up 8.7% to £1.03bn.
Ferguson shares rose 4.75%, with the FTSE 100 up 4.17 points at 7,443.01.
Shares in bottling firm Coca-Cola HBC fell 2.4% after the company announced the death of its chief executive.
The company – one of the world’s largest bottlers of Coca Cola – said Dimitris Lois had died on Monday.
Mr Lois had been on medical leave of absence since mid-September. The company said Michalis Imellos would continue in the role of acting chief executive.
Shares in Greggs were 1.1% higher after the High Street baker reported rising sales.
In the three months to 30 September, total sales grew 8.6% with like-for-like sales up 5%. However, Greggs added that rising food ingredient costs were a “headwind”.
On the currency markets, the pound dipped 0.1% against the dollar to $1.3257 and fell 0.3% against the euro to €1.1278.