Pub and restaurant chain Mitchells & Butlers was among the biggest risers on the FTSE 250 index after more than doubling its profits.
The owner of Toby Carvery and All Bar One said profits rose from £40m to £108m in the first half to April 13, while revenue rose 8.9 per cent to £1.4bn.
The company, which is also behind Miller & Carter, Browns and Stonehouse, said trading had been strong since Easter.
Costs are lower than expected as the rise in the national living wage has been offset by lower energy prices and falling food inflation.
It expects performance for the year to be at the top end of market forecasts and rose 10 per cent, or 26.5p, to 292.5p, taking gains for the year to 15 per cent.
Costs drop: Mitchells & Butlers, owner of Toby Carvery and All Bar One, said profits rose from £40m to £108m in the first half to April 13, while revenue rose 8.9% to £1.4 billion.
As hopes fade over interest rate cuts this summer, the FTSE 100 fell 0.6 per cent, or 46.12 points, to 8,370.33 and the FTSE 250 fell 0.4 per cent. , or 73.39 points, to 20,710.07.
Integrafin reported that funds on its Transact investment platform rose 13 per cent to a record £61bn in the first half to 31 March.
Group revenue rose 6 per cent to £70.4 million, while profits rose 16 per cent to £32.4 million. The shares soared 11.1 per cent, or 34.5p, to 346.5p.
British Land expects its rent to rise by 3 to 5 percent in the coming year, following a 5.9 percent rise in the year to the end of March, just days after selling its 50 percent stake in Meadowhall shopping center in Sheffield. for £360 million.
It added 2.1 per cent, or 8.4p, to 403.2p.
Close Brothers said it could pay millions in compensation while its motor financing division is investigated.
Stock Market Surveillance – Alpha Financial Markets Consulting
One of two private equity bidders hoping to buy Alpha Financial Markets Consulting has pulled out.
Cinven, which said this month it was considering a bid for the AIM-listed company, no longer intends to make a bid.
Bridgepoint, the other bidder, must announce whether it wants to make a formal proposal or withdraw next week.
The shares, which were trading at 160p in October 2017, fell 4.7 per cent, or 20p, to 405p.
The merchant bank said the Financial Conduct Authority’s review of “borrowers in financial difficulty” is likely to result in the payment of compensation of up to £9 million.
It expects to pay a further £10m linked to a separate investigation into the possible mis-selling of car loans, and fell 6.7 per cent, or 32.8p, to 458.2p.
ITV will invest up to £4.5m in Purplebricks by taking a small stake in the online estate agency, which was bought by rival Strike for £1 last year, and helping it launch a television advertising campaign. ITV fell 1.9 per cent, or 1.45p, to 77.1p.
BT, which rose 0.9 per cent, or 1.15p, to 129.15p, has been fined £2.8m for failing EE and Plusnet customers.
The telecommunications giant breached consumer protection rules after making more than 1.3 million sales since June 2022 without providing customers with the necessary information before signing contracts, Ofcom said.
Yarn maker Coats’ revenue rose 7 per cent in the four months to April 30, boosted by a 14 per cent rise in sales at its clothing division. It rose 1.5 per cent, or 1.3p, to 87.6p.
4imprint, which makes promotional products, said sales rose 6 percent in the first four months of 2024 and that DavidBuscas will leave his role as chief financial officer before the end of 2025. Shares sank 2.5 percent , or 150 pence, to 6040 pence.
Marlowe, which helps companies comply with legal regulations, will earn more than expected from the sale of software assets and services: £225 million, up from £150 million.
The shares gained 9 per cent, or 48 pence, to 582 pence.