Retail shares push FTSE 100 higher

http://www.bbc.co.uk/news/business-30878005

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(Close): Retailers sent the FTSE 100 higher, but a strong rally on London's benchmark index eventually waned.

Dixons Carphone was the index's biggest riser, up 4.4% on hopes that its forthcoming trading update would show strong growth over Christmas.

Tesco's shares initially rose more than 2% after a Morgan Stanley upgrade, but the stock ended 1.1% up.

The FTSE 100 closed up 35.2 points, or 0.54%, at 6,585.5, with commodity and mining shares holding back the index.

Glencore, down 1.9%, was the index's biggest loser, followed by BHP Billiton, down 1.4%.

Outside the main index, a 2% rise in like-for-like sales over the Christmas and new year period helped shares in pub group Greene King tick up 0.19%.

Greene King said that sales had fallen in Scotland after tougher drink-driving laws were introduced.

Thorntons shares jumped 5% after the chocolate maker reported strong sales at its own stores over the Christmas period. It said like-for-like sales at its stores rose 7.8% between 1-24 December.

However, the company - which issued a profit warning just before Christmas - confirmed that sales through other channels had been poor. Sales through UK commercial channels fell 10.5% in the 14 weeks to 10 January.

On the currency markets, the pound dipped 0.05% against the dollar to $1.51360, and fell 0.56% against the euro to €1.30260.