London Report: Reed rise offsets Kingfisher crash as FTSE ends up

THE FTSE yesterday rose, as gains at media company Reed Elsevier helped offset a slump in home improvements ret­ailer King­fisher.

Britain’s main index closed up 0.3 per cent, or 23.31 points, at 6,821.46.

Anglo-Dutch publisher Reed Elsevier climbed 4.37 per cent to 980p, after reporting first-half earnings that beat market expectations.

British Airways and Iberia owner International Consolidated Airlines Group rose two per cent to 342.90p on news that the Spanish airline had resolved a labour dispute with its aircrew and ground staff.

However, Kingfisher slumped 8.18 per cent to 308.50p, after it suffered a sharp slowdown in trading in June.

EasyJet suffered a 4.4 per cent fall after its annual profit growth forecast of at least 14 per cent failed to meet analysts’ expectations.