• Carphone Warehouse has shot up to the top spot on the midcap index, gaining 20.4, or 7.58pc to 289.6p, after the mobile phone shop chain announced a store concept deal with Samsung. The mobile phone shop said it is the preferred partner to roll out 60 shops dedicated to just the South Korean tech company’s products.
• Shares in Mulberry have tumbled by 22pc in morning trading after a shock profit warning from the luxury leather goods company. The stock was dragged to a three-year low of 700p after the company said that its 3pc drop in retail sales was due to a deteriorating UK trading environment and order cancellations in Korea.
• J Sainsbury is the biggest faller on the blue-chip index, shedding 6.9, or 2.3pc to 349.7p after chief executive Justin King announced he would step down in July after spending 10 years at the helm of the business. Mike Coupe, the grocer’s relatively unknown commercial director, has been chosen as Mr King’s replacement.
• Mining shares have performed strongly, buoyed by Anglo American climbing 70.5, or 5.25pc, to £14.14 after the miner reported a better than expected rise in iron ore production in the fourth quarter. Antofagasta also lifted 50, or 6.14pc, to 873p after the Chilean miner posted record full-year copper productions.
• London’s indices rose on Wednesday following a rally in global stocks after Turkey sharply hiked interest rates to defend its currency. The measure has calmed concerns about a run on emerging market currencies. The FTSE 100 has gained 14.89 points, or 0.23pc, to 6587.22, while the FTSE 250 is up 93 points, or 0.59pc, to 15,809.11 points.
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