3i surges on strong earnings leading UK shares higher

UK shares gained value on London trading after falls overnight on Wall Street and in most of Asia.

3i surges on strong earnings leading UK shares higherThe benchmark FTSE 100 gained 0.34% to close at 6,973.04.

Private equity firm 3i Group was the biggest gainer which rose 3% after a strong set of full year results.

The company, which owns the Agent Provocateur lingerie business, says its net asset value had increased by 14% to 396p a share.

Mondi was another big winner in the FTSE 100, adding nearly 2.8%.

On Wednesday, shares in the packaging company jumped nearly 9% after the company reported a 29% rise in first-quarter operating profits.

Three of the five biggest losers on the 100 share index were companies going ex-dividend which means that anyone buying those shares will not receive the next dividend payments.

GlaxoSmithKline, Kingfisher and Aberdeen Asset Management all shed more than 1%.

On the currency markets, the Pound hit a five month high against the dollar, trading at $1.5748, but was little changed against the euro at €1.3868.

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