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FTSE 100 makes early gains as Smiths Group surges while Just Eat offloads Grubhub - Market Report

FTSE 100 makes early gains as Smiths Group surges while Just Eat offloads Grubhub - Market Report

London's FTSE 100 moved slightly higher on Wednesday, gaining 10 points to reach 8,036 as trading got underway.

Smiths Group (LSE:SMIN) led the early risers as shares surged after the engineering firm hiked full-year guidance on a 15.8% increase in first-quarter revenue.

Just Eat shares also jumped after it announced the sale of US-based Grubhub for $650 million after buying the business for $7.3 billion three years ago.

Elsewhere, SSE gained as news of its chief executive’s retirement after 11 years was coupled with a report of a 24.1% jump in adjusted interim operating profit to £860.2 million.

And finally, Lloyds and Close Brothers ticked up as the FCA proposed further pushing back the deadline for complaints in its probe over potential motor finance mis-selling.

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