US growth sends FTSE higher

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Figures published by the US government today showing that economy grew by a higher than expected 3.3% annualised rate in the second quarter helped support UK share prices to send the FTSE up 20.80 points to close at4,588.10.

British Airways led the way with a 6.5p rise to 212.75p as investors bought into hopes of stronger trans-Atlantic traffic. Hanson, the brick maker, gained 12p to 410.5p after Austrian competitor Weinerberger said it would buy the UK’s third-biggest maker of bricks thebrickbusiness. Old Mutual gained 3p to 113.5p after South African stock indices set new records on a falling rand, which increases profits for exporters pricing their wares in dollars. Johnson Matthey, the chemicals and metals specialist, gained 20.5p to 961.5p after stating its first half earnings would be better than...

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