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FTSE 100 rebounds as China worries ease | FTSE 100 rebounds as China worries ease |
(about 3 hours later) | |
(Noon): The UK market managed to recover some of the ground lost over the past couple of days in the wake of the yuan's depreciation. | |
By lunchtime, the FTSE 100 index was up 50.85 points, or 0.8%, at 6,622.04. | |
Shares in drink bottling company Coca-Cola HBC surged 8.5% after its half-year results beat expectations. | |
In the six months to 3 July, net profits rose 32% to €125.2m, and the company said it was upbeat about its prospects. | In the six months to 3 July, net profits rose 32% to €125.2m, and the company said it was upbeat about its prospects. |
"We have become more optimistic as the year has progressed and remain confident that 2015 will be a year of volume growth and progress on margins," said chief executive Dimitris Lois. | "We have become more optimistic as the year has progressed and remain confident that 2015 will be a year of volume growth and progress on margins," said chief executive Dimitris Lois. |
Tui Group jumped 7.2% after the travel firm said annual profits were set to come in at the top end of expectations. | |
The company said strong demand for summer holidays had offset the impact of the beach attack in Tunisia, which it said would cost it £20m. | |
Shares in security and outsourcing firm G4S fell 4.4% after Goldman Sachs and Exane BNP Paribas both lowered their ratings for the company. | |
On the currency markets, the pound rose 0.1% against the dollar to $1.5629 and climbed 0.49% against the euro to €1.4060. |