Sep 29, 2017

FTSE 100 opens higher as ITV gains

ITV led the FTSE 100 share index higher after Barclays upgraded its rating on the broadcaster to "Overweight". Shares in ITV were up 2.3% in early trade, with the FTSE 100 rising 18.19 points to 7,341.01. Mining firms also bolstered the index, with Glencore shares up 1.6% and Anglo American 1.4% higher. The firm reported a first-half loss of £1.15bn as it took further charges, and cut its full-year revenue forecast to £4.6bn-£4.8bn, down from a previous expectation of £4.8bn-£5bn. Shares in Lloyd's of London insurer Beazley rose 3%, despite the company saying that losses from the impact of hurricanes Harvey, Irma and Maria, and earthquakes in Mexico, would cut its earnings this year by about $150m. On the currency markets, the pound fell 0.25% against the dollar to $1.3407, and dropped 0.4% against the euro to €1.1356.

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