Economy

FTSE 100 boosted by hotel groups

UK stocks rose in early Tuesday trade, boosted by strong financial results from hotel companies.

InterContinental Hotels Group (IHG) shares climbed 3.5% after posting its third quarter results. The company said it was confident in its outlook for the year due to encouraging trading trends.

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Premier Inn owner Whitbread also saw strength in its hotels business which, combined with growth in its Costa Coffee brand, which helped it to post first-half profits of 5.4%. Shares in the company rose 2.8%.

Overall, the FTSE 100 was up 8.74 points or 0.14% at 6,361.07. On the currency markets, the pound was 0.21% higher against the dollar at $1.5497 and up 0.504% against the euro at €1.3663.

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