London shares higher but Sainsbury's falls on results

(Close): The FTSE 100 closed higher despite shares in Sainsbury's falling 3.16% to 266.30p after reporting its first full-year loss for 10 years.

The UK's third-largest supermarket chain reported a £72m loss in the year to March, after being hit by several one-off costs, including a write-down in the value of some of its stores.

The benchmark FTSE 100 index was up 6.16 points at 6,933.74, with Sage the biggest gainer - up 7.96% on results.

Imperial Tobacco rose 1.76% to 3,175p.

The tobacco firm said it was on track to meet its financial targets, despite underlying half-year sales dropping 5%.

Pubs chain Wetherspoon was up 3.87% after it reported results showing profit margins holding up better than expected.

In the FTSE 250, shares in Superdry owner Supergroup extended gains to stand 7.42% higher at noon after it reported strong fourth-quarter sales.

The fashion chain reported an 11.6% rise in like-for-like sales for the 15 weeks to 25 April, and said it was on track to hit full-year targets.

The pound was having a mixed day on the currency markets. Against the dollar it rose 0.36% to $1.5236, but against the euro it fell 0.94% to €1.3445.