23/07/2003 12:12
London’s top shares raced ahead in opening trading, bolstered by the rally on Wall Street and a raft of company earnings.
Supermarket giant J Sainsbury advanced despite reporting underlying sales just 0.3% higher in the UK, including petrol sales.
However, Cadbury Schweppes wasn’t so lucky, heading down after posting a 4% fall in first half earnings and a forecasting a similar performance for the year.
GUS edged lower despite announcing that its three main businesses have achieved “excellent sales growth,” after the retail group cautioned that growth would not be so strong for the rest of the year.
The battle to take over troubled ad agency Cordiant reaches a climax today as shareholders meet to vote on WPP's bid. There are due to be four separate meetings on the future of the group
Elsewhere, internet bank Egg raced forward after delivering a leap in first half profits at its UK operations. Even news of a massive first half loss due to its French arm failed to dampen sentiment.
Supermarket giant J Sainsbury advanced despite reporting underlying sales just 0.3% higher in the UK, including petrol sales.
However, Cadbury Schweppes wasn’t so lucky, heading down after posting a 4% fall in first half earnings and a forecasting a similar performance for the year.
GUS edged lower despite announcing that its three main businesses have achieved “excellent sales growth,” after the retail group cautioned that growth would not be so strong for the rest of the year.
The battle to take over troubled ad agency Cordiant reaches a climax today as shareholders meet to vote on WPP's bid. There are due to be four separate meetings on the future of the group
Elsewhere, internet bank Egg raced forward after delivering a leap in first half profits at its UK operations. Even news of a massive first half loss due to its French arm failed to dampen sentiment.
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