FTSE makes steady progress as Topix hits five-year high

The FTSE 100 index is up 0.6% to 5464 in early trading as GUS, the owner of Argos and Homebase stores, rose 3.2% to 877p even though its first-half earnings were slightly lower than the company had predicted at £276.5m. Industrial gas group BOC also rose 0.9% to £11.38 after reporting a fiscal fourth-quarter profit of £88.5m. Man Group, the money marker and hedge fund company, also gained 34p or 2% to £17.16 after increasing net inflows of funds by $1bn thanks largely to client fees. In Asia, the Japanese Topix index climbed to a five-year high by close of business in Tokyo today a...