Today

Steelmaker and foundry mould maker Cookson lived up to its new name today when it spurted up more than 9 per cent.

Investors in the world's second-biggest listed oil group were yesterday left shell-shocked after news of a 60 per cent fall in profits. Royal Dutch Shell's second-quarter results were 23 per cent below analysts' consensus forecasts and Richard Curr, head of dealing at broker Prime Markets, said they "came totally out of the blue".

The City was hoping it would not wake up with a hangover today after booze and fag sellers boosted the blue-chip index yesterday to the highest point in a week. Good results from British American Tobacco, spirits giant Diageo and Belgian-based beer group AB InBev pushed peers SAB Miller and Imperial Tobacco towards the top of the table.

Hugo Boss hopes new shops and a womenswear line by one of Michelle Obama's favourite designers Jason Wu will help grow its sales and profits for the year. Mr Wu was brought in as artistic director of the fashion group's womenswear last month to re-invigorate its collections.

News of a high court claim against African Barrick Gold over the deaths of Tanzanians tarnished its shares on a day when it revealed $185m of cost cuts.

Banks have disappointed government and they have disappointed the public, and yesterday Barclays disappointed the City. This time, the crushing disappointment wasn’t due to mis- selling or big bonuses – Barclays yesterday frustrated the Square Mile when it emerged it will pursue a £5bn-plus rights issue to plug the perceived hole in its balance sheet that the Bank of England’s capital requirements have revealed.

On a day when traders' screens turned red and the market dived more than 30 points, Shire was breaking records.

The luxury goods sector is still booming but there are signs that shoppers have fallen out of love with established names such as Louis Vuitton.

Thirsty traders were diving into the pubs group JD Wetherspoon as the heatwave helped to sell more pints and glasses of Pimm's. Wetherspoon raised its profit guidance for the year and the chairman and founder, Tim Martin, said he was "more bullish" after the positive period.