FTSE 100 index opens up on Royal Mail, Johnson Matthey and miners
The FTSE 100 opened 0.7 per cent higher this morning, at 6,322 points, led by gains in Royal Mail, Shell, BG and Johnson Matthey.
Royal Mail's share price increased 4.1 per cent to 18.6p as markets opened , after reporting progress in its cost-cutting programme, which left revenue largely flat against difficult market conditions. The company reported revenue of £4.4bn for the first half of the year ending 27 September.
Read more: Royal Mail making progress in cost-cutting programme
Meanwhile, Shell and BG's £47bn merger received approval from the Australian Competition and Consumer Commission, meaning it just needs the nod from Australia's Foreign Investment Review Board and China.
Royal Dutch Shell's FTSE 100 listed stock rose 1.22 per cent to 1,660p per share, while BG's stock increased 1.47 per cent to 1,037.5p per share on the announcement.
Read more: Shell and BG's £47bn merger receives Australian approval
Johnson Matthey, a specialty chemicals firm, reported underlying revenue up 20 per cent for the first half of 2015, compared to the previous period and said the full year outlook for the group is in line with current market expectations. Its share price rose 5.05 per cent to 2,584p on the news.
Miners again made gains, with BHP Billiton up 3.49 per cent at 911.55p per share, Glencore 2.81 per cent higher at 95.91p per share and Anglo American 2.95 per cent up at 462.58p per share.
Sky's stock was also up 1.65 per cent at 1,110.5p per share as Ofcom removed a requirement for Sky to offer Sky Sports 1 and 2 on a wholesale basis.