FTSE on the rise despite Compass profits slump

Investors displayed a fresh hunger for blue-chip stocks today despite a profits slump at the world’s largest foodservices firm.

Compass Group was restraining progress by the FTSE 100 Index after the caterer capped a disappointing first-half performance with a 7.8% drop in pre-tax profits, sending its shares down 6% or 13p to 223p.