Shares higher at midday

PUBLISHED : Friday, 24 March, 1995, 12:00am
UPDATED : Friday, 24 March, 1995, 12:00am

Stock prices were higher at midday yesterday in moderate trading.

The Financial Times 100-stock index, which rose 4.7 points on Wednesday, was ahead another 17.8 points to 3,157.5.

Volume amounted to about 339 million shares compared with 278.3 million shares by midday on Wednesday.

Analysts said London equities benefited from generally positive company trading news and a rally in the American and British debt markets.

They added that the release of British inflation figures for February removed some uncertainty from the market.

Among the most widely traded stocks, alcoholic drinks manufacturer Guinness climbed after reporting its annual results, which were in line with expectations.

Speculation over rationalisation in the merchant banking sector boosted S G Warburg and Kleinwort Benson.

However, food producer Northern Foods fell after announcing a restructuring programme involving the loss of 2,200 jobs over the next two years.