Engineering firm Tomkins beat profits expectations today after overcoming setbacks such as hurricanes and slumping sales of car giants in the United States.

British food producer RHM was valued at £958m (€1.4bn) today as the City clamoured for a slice of the maker of Hovis bread, Paxo stuffing and Mr Kipling cakes.

The maker of Mr Kipling cakes and Bisto gravy will be valued at up to £975m (€1.4bn) when it floats on the London stock market, it emerged today.