Traders in London

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The London market constructed on Wednesday’s document excessive, however shares in Merlin Entertainments fell regardless of it reporting an increase in income.

Merlin – which operates theme parks resembling Legoland and Alton Towers – reported pre-tax income of £277m for 2016, up from £250m a yr earlier.

The weak pound had led to extra European vacationers visiting its UK websites, which additionally embrace Madame Tussauds.

Regardless of this shares in Merlin had been down 2.eight% at 544p in early commerce.

Shares in outsourcing group Capita fell three.7% after it reported a fall in full-year income and stated its chief executive was stepping down.

That made it the largest faller on the FTSE 100. Nevertheless, the UK’s benchmark was up in early commerce, climbing 5.98 factors to 7,388.88, because it constructed on the document closing excessive recorded within the earlier session.

Within the FTSE 250, shares in Travis Perkins fell 5.three% to £14.82 after the constructing supplies firm stated full-year income had fallen by two-thirds.

Income final yr sank to £73m from £224m in 2015 after the corporate wrote down the worth of its plumbing, heating and tile companies by £235m.

However shares in aerospace and defence agency Cobham rose three.eight% to 126.80p regardless of it asserting plans for a £500m rights challenge.

The information got here as the corporate reported pre-tax losses of £847.9m, in contrast with £39.8m the yr earlier than, after a sequence of hefty asset writedowns.

On the foreign money markets, the pound fell zero.1% against the US dollar to $1.2286 however rose zero.1% against the euro to 1.1663 euros.