London shares fell back slightly this morning as investors await the latest set of economic figures.
Analysts are hopeful today's GDP figures will be less dire than those seen in the first quarter. Nonetheless, the FTSE 100 was down 3.35 points (0.07%) to 4,556.45 this morning.
Vodafone shares added 2.78% to 120.15p this morning after revealing its earnings had increased by almost 10% in the last quarter. Home Retail Group shares were up 1.51% to 303p this morning after Deutsche Bank upgraded its rating from ‘hold' to ‘buy'.
Shares in Pennon Group fell back this morning after water regulator Ofwat announced it would be working to keep prices down. The sewage services firm lost 2.04% to 480.5p.
Fellow utilities provider Centrica was also among the biggest losers, though for different reasons. The British Gas owner's shares fell 1.41% to 227.25p after Venture Production snubbed its takeover attempt.
Wall Street shares surged forward yesterday, hitting 6-month highs after a raft of good corporate results.
The Dow Jones climbed 188.03 points (2.12%) to 9,069.29, boosted by positive data on home sales and the economy.
3M led the pack on Thursday despite a 17% fall in second quarter profits. Shares were up 7.36% as the fall was not as bad as analysts had predicted.
McDonald's shares were by far the biggest loser yesterday, down 4.64% after the fast food giant's profits fell 8% during the second quarter.
In Tokyo, the Nikkei 225 jumped 151.61 points (1.55%) to 9,944.55 on the back of hopes the US economy is beginning to recover.
