Business

London Market Report

  • 16 July 2014
  • From the section Business

(Close): Royal Mail was the biggest faller on the London stock market on Wednesday after it emerged that its French subsidiary, GLS, was facing an anti-trust inquiry.

Shares in the firm were down 1.88% on news of a competition inquiry which could result in a "material" fine.

Overall, the FTSE 100 index was up 74.22 points, or 1.11%, at 6,784.67.

Biggest riser was aerospace engineer Meggitt, up 9.57% on rumours of a possible takeover bid.

On the currency markets, the pound was down 0.1% against the dollar at $1.7127, but it was 0.2% higher against the euro at 1.2661 euros.