London shares higher amid strong corporate results

[YahooNews]

               London (AFP) - London shares opened higher on Thursday as more British companies issued strong third quarter figures, dealers said.

The benchmark FTSE 100 index was up 21.00 points or 0.32 percent at 6,695.48 points at 8:28 am.

Shares had slipped on Wednesday on profit-taking after recent gains and as traders looked nervously on plans by the European Central Bank to assess the balance sheets of eurozone banks.

WPP led the London leader board, climbing 2.36 percent to 1,344 pence after the advertising group reported third quarter revenues up 7.4 percent year-on-year at £2.68 billion.

The operating margin for the nine months to September was up by 0.5 points and WPP still expects a similar improvement for the full year, to a 15.3 percent margin.

Rolls-Royce gained 1.22 percent to 1,158 pence as the aero engine maker unveiled a contract to supply thrusters and deck machinery for two South Korean drilling rigs.

Miners were in favour too, with Fresnillo up 2,31 percent at 1,017 pence and Vedanta up 1.22 percent at 1,078 pence.

One company whose figures failed to please was sportswear retailer Sports Direct, whose shares sank 6.11 percent to 668.50 pence following release of its pre-close trading update for the latest period.

Group total sales for the nine weeks ending September 29 were up 15.1 percent at £463.7 million and gross profit was up 19.4 percent at £199.8 million, Sports Direct said.

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Source: London shares higher amid strong corporate results