FTSE Moves: The London market rises on the back of strong earnings from financial stocks

The London market lifted close to a 14-month high in afternoon trading, buoyed by gains in financial stocks. The FTSE 100 Index was 22.8 points higher at 6,832, after Standard Life stock hit its highest level since the UK's Brexit vote, following the insurer reporting an increase in assets under management. The FTSE 250 rose 44.3 points to 17,602.

Top flight shares are hovering at just below a high last reached in June 2015. The FTSE 100 index is up around 9% so far this year.

Standard Life said total assets under administration rose 6.7% to £328bn ($428bn) in the half year, helping shares rise 14.1p to 332.6p.

Worldpay, which provides platforms for merchants to accept payments by cards and other methods, said its underlying earnings rose 19% to £217.9m ($282.9 million) for the six months ended June 30.

The payment processer's statement was ahead of City forecasts, which saw shares rise 15.1p to 316.5p.

Trustnet Direct market analyst Tony Cross said: "Worldpay Group also updated the market this morning and this is another company benefitting off the back of the falling pound – news that has helped propel the stock to the top of the board."

In afternoon trading the biggest risers on the FTSE 100 Index were Worldpay Group (+15.1p to 316.5p), Standard Life (+14.1p to 332.6p), EasyJet (+34p to 1073p), Smiths Group (+40p to 1330p) and Morrisons (+4.2p to 192.2p).

The biggest fallers on the FTSE 100 Index were Legal & General (-12.2p to 205.9p), Barratt Developments (-8.2p to 427.7p), Sky (-16p to 892p), Travis Perkins (-22p to 1543p) and Berkeley Group (-37p to 2620p).

In afternoon trading the biggest risers on the FTSE 250 Index were Amec Foster Wheeler (+43.6p to 510p), Tullow Oil (+11.5p to 222p), Entertainment One Limited (+9p to 206.9p), Spirax-Sarco Engineering (+167p to 4269p) and Ocado Group (+8.7p to 285p).

The biggest fallers on the FTSE 250 Index were SIG (-4.2p to 102.9p), IP Group (-5.5p to 154.7p), Sophos Group (-7.4p to 224.7p), Vectura Group (-4.6p to 141p) and Riverstone Energy (-32p to 1028p).