Vodafone keeps FTSE 100 in the green after 1% share rise

 
Vodafone rose 2.3p to 197.9p and ensured the top flight index in London consolidated the 1% improvement seen yesterday to stand 1.1 points higher at 6796.1.

Mobile phone giant Vodafone kept the FTSE 100 Index in positive territory today after a rise of more than 1% for shares in the market heavyweight.

Traders were encouraged by the performance of Vodafone's former US partner Verizon, which reported strong second quarter profits.

Vodafone, which is due to present its own figures on Friday, rose 2.3p to 197.9p and ensured the top flight index in London consolidated the 1% improvement seen yesterday to stand 1.1 points higher at 6796.1.

Markets have been helped by an easing in tensions over the downing of a passenger jet in Ukraine after pro-Russian separatists released bodies from the crash site and handed over the aircraft's black boxes.

Outsourcing firm Capita set the pace at the top of the FTSE 100 after its half-year results showed a 16% rise in underlying profits to £238 million.

The update, which prompted Investec to upgrade its rating on the stock from hold to add, caused shares to surge by 3% or 32.5p to 1187.5p.

Outside the top flight, regional airline Flybe was 3% higher after chief executive Saad Hammad highlighted further progress in the company's turnaround.

Having recently announced its first profit in four years, Flybe said the first quarter had seen a jump in its load factor to 75.8% from 66.5% a year earlier. The stock was 3.6p higher at 121.6p.

PA