London’s FTSE 100 is up this morning after fresh figures revealed the UK economy was the third fastest growing across G7 countries in the second quarter.
GDP expanded by 0.6% during the three months to June, following a 0.7% rise during the second quarter. This was as the service sector grew 0.8%, offsetting declines across the production and construction industries.
Britain’s new Labour government has set targets for the UK to secure the highest sustained growth across the G7 after coming into power last month.
In company news, insurer Admiral saw its shares rocket after it hiked its interim dividend from 51p to 71p per share on stronger profits over the first half of the year. This was as group customers ticked up 12% to 10.53 million, with Admiral having faced a drop in recent years after hiking premiums ahead of peers.