23/07/14 Market Movements

Market news

The FTSE100 closed at a 2 week high after rising 2.81 points to 6,798.15 as investors evaluated companies’ earnings reports.

Capita PLC was the biggest climber of the day after rising 4.76% to its highest closing price in 25 years after announcing revenue that beat analysts’ estimates.  The services provider to government agencies reported a 14% increase in revenue to £2.07billion in the first half of the year, beating analyst estimates of £2.01billion.

Conversely, GlaxoSmithKline Plc was the biggest faller of the day after experiencing its biggest daily slide since 2008 as second-quarter earnings missed projections. Glaxosmithkline eventually closed down 4.73%.