14 July 2005, 15:35  London shares remain higher at midday, Emap climbs on soothing trading news

Leading shares remained higher at midday, with a scattering of upbeat broker comments helping to lift the FTSE 100 to fresh three-year highs, while an upbeat trading statement from Emap also boosted sentiment, dealers said. By 11.55 am, the FTSE 100 index was up 16.6 points at 5,261.5, with all the broader FTSE indices also higher. Volume was well above average, with 1.276 bln shares changing hands in 98,160 deals, swelled by some 400 mln trades in Rolls-Royce B shares. Looking ahead to Wall Street, US stocks are expected to open higher this afternoon, taking their lead from robust after-hours figures from Apple and AMD. According to spread-betting firm IG Index, the DJIA is seen up around 40 points, while the Nasdaq is seen up 15. Another batch of economic reports could hit sentiment however, with US inflation and retail sales data both due before the market's opening. June CPI is seen up 0.3 pct, after a 0.1 pct decline in May, while June retail sales are expected to rise 0.8 pct, after a 0.6 pct fall in May. Back in London, Emap added 17 pence to 822-1/2 following an upbeat trading statement.

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