Scotland business

Weir Group elevated to FTSE 100

Weir site
Image caption Weir Group is worth about £2.79bn

Glasgow engineering firm Weir Group has been promoted to the FTSE-100 in the latest reshuffle of the index.

Shares in the company have soared in recent months and the firm is now valued at £2.79bn.

Last month, Weir Group announced a 58% rise in pre-tax profits in the first six months of this year to £144m.

Weir joins the FTSE-100 along with the investment firm Resolution and manufacturing group Tomkins.

Weir employs more than 9,000 people around the world, working across the mineral, oil and gas and power sectors.

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