Tue City brief: Sky high figures boost market
A late rally saw the FTSE100 headed back towards its record high after an unsettled session earlier on.
Good results from Sky and Arm Holdings pushed the index to and intraday high of 7,105.13 before it closed up 0.15% at 7.062.93, just shy of the all-time closing high of 7,096 on 15 April.
Third-quarter results from Sky generated the most growth in 11 years, as near 70% growth in new customers fed through to a 20% increase in operating profits.
Also higher was smartphone and tablet microchip designer Arm Holdings which beat its own guidance with a 14% jump in dollar revenues in the first quarter of 2015. The company also gave an upbeat outlook, saying that dollar revenues for the full year should be “at least in line with current market expectations”.