The FTSE 100 is closing the week as it started, on the up and hitting new record highs.
London’s blue-chip index was up 10 points at 8,576 in early trades though it was FTSE 250 member Burberry making the headlines as it jumped 14% on a more upbeat trading statement than predicted.
Sales were 7% down in its third quarter but are picking up and it is now “more likely” that second-half results would offset the company’s first-half adjusted operating loss, said the luxury clothing group.
Severn Trent welcomed Ofwat’s decision on water sector pricing for the next five years and firmed up plans to hike dividends under the new regulatory regime.
Dividend payments would increase in line with inflation under the new pricing scheme, said the water utility, despite the brickbats it has received for repeated sewage spillages.
Finally, Barclays wants to bump up the potential maximum annual pay of its chief executive by 45% to £14.3 million, though the bank said the new scheme is more bonus-linked than previously and required it to hit very high targets to get the full pay out.
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