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SSE merger powers FTSE 100 higher

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Energy firm SSE led the FTSE 100 higher in early Wednesday trading after it announced it was merging its domestic business with Npower.The firm was the index’s biggest riser, adding 3.7%.Overall, the benchmark 100-share index was up 0.22% or 16.38 points at 7,529.49.Marks and Spencer was also among the top gainers, up 1.1%, after announcing its first-half results. Total sales rose 2.6% but pre-tax profit fell 5.3%.Primark owner AB Foods dropped for a second day, shedding 2% to become the biggest loser on the FTSE 100.On Tuesday, its shares fell more than 3.7% after it said that profits at its sugar business were set to fall this year as a result of lower EU prices.On the currency markets, the pound fell 0.28% against the dollar to $1.3130 and was down 0.39% against the euro at €1.1317.
Source: BBC Regional