Business

London Market Report

  • 18 August 2014
  • From the section Business

(Close): Shares in London closed higher on Monday, helped by news of progress in talks between Russia and Ukraine.

The FTSE 100 index closed up 56.31 points, or 0.84%, at 6,745.39.

Homebuilder Bovis Homes shares rose 5% after it reported a 150% rise in half year operating profits and increased its estimate for the full year. The healthy dividend on offer also helped.

Profits were £51.2m, and the company built a record number of homes in the period.

The engineering firm Smiths Group saw its shares jump suddenly towards the end of the trading session. They closed up more than 4%, the best performer on the FTSE 100.

UK chip designer ARM Holdings was also among the best performers on the index, up 2.7%, after Goldman Sachs turned positive on the company.

Sterling is up 0.19% against the dollar at 1.6750, and is up 0.56% against the euro to 1.25250 euros.