FTSE 100 Live: Trainline stock soars, BP and Shell edge higher

Good morning from the City AM liveblog team.

Shares in Shell, BP, Playtech and Trainline were among the biggest risers in the London markets this morning, after the latter two reported earnings that sailed past analyst expectations.

The government’s growth ambitions were dealt another hammer blow last night, after US pharma giant Merck pulled the plug on a planned £1bn research facility in King’s Cross after warning the UK was losing its international competitiveness.

Meanwhile in the US, buy now pay later business Klarna saw its stock jump more than 20 per cent after the Swedish tech firm finally made its debut on the New York Stock Exchange.

Here’s a look at some of our other top stories from yesterday:

• CBI boss calls for Rachel Reeves to break Labour’s tax pledge
• Profit slashed at Mike Ashley-backed Hugo Boss
• ABF: Primark owner’s shares sink as sales slow at FTSE 100 giant
• Starling Bank eyes £4bn valuation in secondary share sale
• Pisces rival claims LSE won’t offer firms enough trading volume
• Revealed: How much profit Amazon makes in the UK