Britain’s top share index edged higher after a positive update from mobile operator Vodafone and hopes of central bank stimulus following a survey showing a sharp drop in economic activity in July.
The FTSE 100 index of leading shares was 18 points, or 0.27 per cent, higher at 6,718.33 just before midday and is on track for its fifth week of gains.
Shares in Vodafone, the world’s second-largest mobile operator, rose 4.7 per cent after reporting a better-than-expected 2.2 per cent gain in first-quarter revenue, despite billing problems in Britain. It is the eighth consecutive quarterly rise from Vodafone.
The market interpreted a special ‘flash’ set of UK manufacturing and services PMIs pointing to a recession as a good reason to expect an
