Home news FTSE 100 flat but Ferguson boosted by results

FTSE 100 flat but Ferguson boosted by results

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Shares in plumbing supplies group Ferguson topped the FTSE 100 in early trade after it reported rising profits and announced a £500m share buyback.The firm – formerly known as Wolseley – reported an 8.6% rise in annual revenues at its ongoing businesses, with trading profit up 8.7% to £1.03bn.Ferguson shares were up 3.5%, but the FTSE 100 fell 4.37 points to 7,434.47.Shares in bottling firm Coca-Cola HBC fell 1.8% after the company announced the death of its chief executive.The company – one of the world’s largest bottlers of Coca Cola – said Dimitris Lois had died on Monday. Mr Lois had been on medical leave of absence since mid-September. The company said Michalis Imellos would continue in the role of acting chief executive.Shares in Greggs were 1.7% higher after the High Street baker reported rising sales.In the three months to 30 September, total sales grew 8.6% with like-for-like sales up 5%. However, Greggs added that rising food ingredient costs were a “headwind”.On the currency markets, the pound was unchanged at $1.3277 and dipped 0.1% against the euro to €1.1309.
Source: BBC News