Equities bounced back after weak start on the back of Chinese data disappointment after German manufacturing data came in stronger than expected. Click here to see what the Trader Nicole Elliott thinks of the latest market moves.
IC TIP UPDATES:
Building supplies specialist Wolseley (WOS) continues to benefit from the upturn in the US economy, where it has significant exposure. Revenues from ongoing businesses in the six months to January rose by more than 10 per cent at constant exchange rates to £6.4bn with trading profit up 12 per cent at £340m on the same basis and the dividend is increased by 10 per cent to 30.25p. But the headline profit figure was reduced sharply by a £245m impairment charge relating to an acquisition in 2006. Nonetheless, we retain our buy rating.