Reed Elsevier takes FTSE higher

Reed Elsevier added 6.62% to £6.44 after it said revenue growth for 2006 was in line with expectations, adding it plans to sell its Harcourt Education division to allow it to concentrate on its digital opportunities. Diageo gained 2.35% to £10.45 after it said 8% net sales growth in spirits was the key driver of its overall performance during the first half. Plumbing supplies group Wolseley led the fallers, down 2.27% to £13.75, after its strong rise yesterday on reports it was courting private equity interest. Marks & Spencer, which has been touted as a potential bidder for J Sainsbu...