Newspaper article The Journal (Newcastle, England)

Footsie Ends Day in Positive Territory; Stocks and Shares

Newspaper article The Journal (Newcastle, England)

Footsie Ends Day in Positive Territory; Stocks and Shares

Article excerpt

The FTSE 100 index ended the day in positive territory, up 42.6 points to close at 6313.3. There were strong gains from mining companies and the Bank of England decided to keep interest rates on hold at 5.75%.

Arriva released its results for the first half of the year with a pre-tax profit of pounds 47.3m, compared to pounds 48m last year. The Sunderland-based company said that there was a strong performance from its bus division despite recent rises in the cost of fuel. Higher costs were blamed for the fall in operating profit of its train division, down to pounds 1.1m from pounds 2.2m a year ago.

The Group has operations in Germany and Italy and David Martin, chief-executive of Arriva, indicated that they are looking for further acquisitions in these two countries. Mr Martin said "We are actively looking at opportunities in probably every country in which we operate." In addition, he said that Arriva would take a "closer look" at any opportunity for a possible acquisition of Chiltern Railways, the London-Birmingham train operator, which is owned by John Laing. …

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