Weir Group shares moved higher after the FTSE 250 engineering firm secured a £100 million order on an Australian iron ore project.

The Glasgow-based firm said the deal was its "largest-ever mining order".

The company said the deal will see it work on the Iron Bridge Magnetite Project in the Pilbara area of Western Australia.

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Under the terms of the contract, the engineering business will provide a range of its crushing and pump equipment for the project, which is intended to produce 22 million wet metric tonnes of iron ore every year.

Jon Stainton, chief executive of the company, said: "This is a great example of working in close partnership with an ambitious customer."

Shares in Weir Group were up 0.9% to 1,499p.

Sir Philip Green's Arcadia retail empire has laid bare the state of its finances in the year before its move to shake up the business with a radical recovery plan.

In annual accounts for the year to September 2018 filed to Companies House, the retailer's holding company Taveta Investments reported a loss of £177.3 million.

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The group said it had incurred £217.1 million of exceptional costs, which meant it swung to a loss despite making a profit on an underlying basis.

It compares to a profit of £49.4 million posted in the previous year.

Morrisons is set to end its three-and-a-half-year run of continuous growth next week as supermarkets continue to struggle with tough competition and squeezed profits on the high street.

The grocer will update the market on Thursday, and analysts predict a 2% fall in like-for-like sales for the second quarter of the financial year.

READ MORE: Business Week

For the last 14 consecutive quarters, sales had been rising.

Pre-tax profits for the half year are expected to hit £192 million, compared with £188 million during the same period a year ago.