Sunday, 14 November 2010

FTSE 100 edges up as travel, utility shares rise

TUI Travel, topped the movers list, with a jump of 4.8pc to 227.2pc after it reported "strenghtened" winter travel bookings.

The company, which released a trading update on Tuesday, stated that full-year results will be “in line with previous guidance” and in addition, that net debt is expected to fall. British Airways likewise rose 2pc to 243.9p.

Utilities climbed by 1pc on boosts to Centrica, National Grid and Severn Trent. Centrica, gaining 1.3pc to 326p, has embarked upon a pilot recycling project, which attempts to turn human waste into renewable gas at Didcot sewage works.

However, performance in utiliies and travel was offset by slumps elsewhere as Inmarsat led the loserboard with a fall of 4.35pc following the sale of 65m ordinary shares in the telecommunications group by US hedge fund Harbringer Capital Partners.

Trading volumes remained thin as investors stay cautious in anticipation of this week's US jobs report – which may provide clues for investors on the health of the world's top economy.


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