London's FTSE up in early trade, Hargreaves leads

AFP
The FTSE 100 index was up 0.51 percent at 6,534.16 points in early trade on Monday January 12, 2015
The FTSE 100 index was up 0.51 percent at 6,534.16 points in early trade on Monday January 12, 2015 (AFP Photo/Facundo Arrizabalaga)

London (AFP) - London shares opened slightly higher on Monday with financial services firm Hargreaves Lansdown leading the charge.

By 8:33 am the benchmark FTSE 100 index was 0.75 percent, or 50.09 points, higher at 6,739.17 points.

Analysts variously cited upbeat expectations for Hargreaves Lansdown's full-year earnings in September and a shake-up in its operations and charges for their positive view on the stock, pushing it 1.94 percent higher to 1,101.0 pence.

Semiconductor and software firm ARM Holdings was the next highest riser, up 1.87 percent to 924.0 pence following positive analyst reports in recent days.

Struggling supermarket chain Tesco was the morning's biggest drag, down 1.23 percent at 244.95 pence.