Dixons Carphone leads FTSE 100 higher

December 16, 2015 8:30 am Published by

Dixons Carphone leads FTSE 100 higher

  • 16 December 2015
  • From the section Business

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(Open): London’s leading shares continued their renewed rise in early Wednesday trading, the day after the benchmark index rose back above 6,000.

Shortly after opening, the FTSE 100 was up 22.26 points or 0.37% at 6,040.05.

The rise was led by Dixons Carphone, which added 4.7% on the strength of a 23% rise in first-half profit.

The retailer said it had its biggest single day’s trade on Black Friday, 27 November, helping it to an underlying pre-tax profit of £121m.

The FTSE 100’s recovery comes after it touched three-year lows on Monday. Other companies contributing to the rise included publisher Pearson, up 2.8%, and miner BHP Billiton, adding 2.5%.

However, not all mining stocks fared well. Anglo American, which announced last week that it was cutting its workforce by 85,000 in a major restructuring programme, was the biggest loser on the 100-share index.

The company’s share price fell 2.3% at the start of trading as both Credit Suisse and JP Morgan downgraded the stock.

On the currency markets, the pound rose 0.05% against the dollar to $1.5048 and was little moved against the euro at €1.3760.

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