U.K. shares up as services industries accelerated in February

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Source: Dukascopy Bank SA
U.K. equities edged higher, with the FTSE 100 Index heading to its highest level in more than four years, after data showed that U.K. services industries unexpectedly expanded in February and companies reported higher-than-expected corporate profits. The FTSE 100 Index rose 1% to 6,406.39 by 15:31 in London. All but one sector climbed at least 0.4%. John Wood Group jumped 8.7% after the oil-services provider reported a 43% rally in its corporate earnings before taxes for 2012 and raised the dividend 26% to 17 cents a share. Serco Group posted biggest surge in more than three years after the outsourcing services provider increased its dividend by 20%. The company added to a 2.8% rise in basic materials. Furthermore, Xstrata Plc. soared 5.2% after reporting earnings that topped the estimates. On the downside, Intu Properties dropped 0.6%, capping gains in financial shares.
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