ITV's better-than-expected profits and a £250 million payday for its investors helped shares in the broadcaster near a record high today.
The stock closed 6% higher in a session when the FTSE 100 Index finished 30.1 points stronger at 6919.2, after a late recovery ensured the top flight recouped a chunk of the previous day's 50 point loss.
The uncertain mood came on the eve of China revealing its official growth target for this year, with Premier Li Keqiang expected to lower the forecast to 7% from last year's 7.5% when he appears before the national legislature.
The pound was lower against the US dollar at 1.525 after UK data showed that the services sector suffered a slight dip in growth despite boosting employment. Sterling was up against the weakening euro at 1.38 after a series of disappointing service sector reports from the region.
ITV set the pace in the top flight after it reported a 23% rise in pre-tax profits to £712 million and said it hoped this year's Rugby World Cup and a raft of new dramas would help turn around a decline in audience numbers.
It also cheered investors with the special dividend windfall worth 6.25p per share while the full-year dividend rose 34% to 4.7p. The stock lifted 12.7p to 234.5p, near to the record high set last month.
Asia-facing bank Standard Chartered also fared well, with shares up 5% or 49.8p to 1024p as the expected fall in annual profits was offset by relief that its dividend payment had been maintained after a difficult 2014.
Precious metals miner Fresnillo was the biggest faller in the top flight after it posted lower-than-expected full-year profit hurt by falling gold and silver prices.
It said pre-tax profit slumped 40% to 251.1 million US dollars (£163.6 million). Shares fell by more than 8%, or 67p to 724.5p.
Elsewhere in the sector, Glencore was 7.95p lower at 283.25p, Rio Tinto was down 61.5p at 3073.5p and Anglo American fell 37.5p to 1167p.
Away from the top flight, shares in baker Greggs jumped 11% after it said annual profits jumped 41% as fresh coffee and calorie-conscious sandwiches helped boost sales growth to an eight year high.
The group said pre-tax profit reached £58.3 million in the 53 weeks to January 3, as it refocused its menu and refitted outlets.
With the retailer confident of achieving another year of growth, shares lifted 392.5p to 963p to leave it the biggest riser in the FTSE 250 Index.
The biggest FTSE 100 risers were ITV up 12.7p at 234.5p, Standard Chartered ahead 49.8p to 1024p, Barclays up 8.1p at 262.4p and International Airlines Group ahead 13.5p at 569.5p.
The biggest fallers were Fresnillo down 67p at 724.5p, Randgold Resources off 211p at 4786p, Anglo American down 37.5p at 1167p and Legal & General off 7.9p at 270.3p.
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