Positive profits start FTSE on an upward slant

UK stocks are actually climbing for the first time in three days, thanks largely at this stage to expectations of a profit for P&O. The Peninsular & Oriental Steam Navigation Co has seen its share price rise7.75p or 5.3% to 153p already this morning, pushing the FTSE 100 up a fraction to 3569.3, as initial indications are there will be a profit in 2003 compared with the second-half loss last year. Positive news for Arriva, the bus and rail firm, also boosted its share price by 4.25p or 1.5% to 287.25 after reporting full-year profit rose 61% thanks to its expansion of the bus div...