Tui Travel tops FTSE 100

TOUR operator Tui Travel topped a buoyant FTSE 100 in early trading, as the top share index extended yesterday’s gains. Encouraging data from the US also flattered the FTSE.

Tui Travel, which this morning said it was confident of hitting the top end of this year’s profit guidance on the back of strong bookings, was up 3.6 per cent in early deals.

Miner Eurasian Natural Resources, after slumping yesterday following Kazakhmys’ $2.22bn write-down on its stake, was up 2.1 per cent. FTSE 250-listed Kazakhmys also rebounded, adding 4.1 per cent in early deals.

Fellow miner Rio Tinto rose 1.6 per cent, while pump maker Weir Group rose 1.8 per cent.

Consumer packaging company Rexam was up 1.9 per cent.

On the FTSE All-Share credit card insurer CPP Group was up 30 per cent while Russian oil and gas firm Ruspetro rose 19.1 per cent.

At the other end of the spectrum, banking shares weighed heavily on the FTSE 100, with state-backed RBS the biggest faller, shedding 2.1 per cent.

Fund house Schroders, which earlier this week agreed to a £424m acquisition of Cazenove Capital, was off 1.6 per cent.

Insurer Prudential was down 1.55 per cent. This morning the City watchdog fined it £30m for failing to tell it about its attempted takeover of Asian rival AIA three years ago.

The majority of UK banking shares were in negative territory this morning. HSBC was broadly flat in early deals, Barclays was down 1.1 per cent and Lloyds Banking Group fell 0.3 per cent.

On the wider index, broker Icap fell 7.6 per cent as it said it expects its full-year revenues to fall 13 per cent.