Bright start for Footsie

London markets were in positive territory today after investors benefited from a strong finish to trading in New York and a boost by PartyGaming.

With just over a dozen shares in the red, the FTSE 100 Index stood 24.9 points higher at 5882.2 by mid-morning.

Online gambling group PartyGaming led the way with a rise of 5.5p or 5% to 111.25p. Even though the US House of Representatives passed a bill to ban internet gambling it is not expected to have such an easy ride in the Senate.

GUS saw its shares move up 14.5p to 1004p after its catalogue business Argos reported a 7% rise in like-for-like sales. GUS said shoppers snapped up flat screen televisions and set-top boxes in the run-up to the World Cup.

Retailer Marks & Spencer lost half a penny to 584.5p despite being upgraded by Deutsche Bank from 655p to 675p. The bank also lifted its pre-tax profit forecast 3% to £950 million – 4% above consensus.

Outside the top flight, Branston owner Premier Foods gained 8.75p to 318.25p after confirming a £460 million takeover of the UK and Ireland operations of Campbell Soup.

And fashion house Burberry moved 2.5p ahead to 462.5p, as it said revenues rose 19% in the quarter to June 30.

The progress, which was in line with market expectations, reflected strong demand across operations worldwide, including in Europe where revenues were 14% higher than a year earlier at £44 million.

Restaurants and bars group Gondola, which owns Pizza Express, ASK and Zizzi chains, moved 7.5p to 326.5p after revealing an increase in sales across the group despite the impact of the World Cup and hot weather.

Total restaurant sales for the financial year to July 2 grew 7% while like-for-like sales were up 4%.