The FTSE 100 had a delayed start to Thursday morning, after a technical issue prevented it from opening at its usual time of 8am.

After opening at around 9am, it moved to trade up 0.05 percent. The biggest risers were Auto Trader (LON:AUTO), up 5pc after a strong set of full year results, and Mitie (LON:MTO) and Capita Group (LON:CPI), both up 4.5 percent.

The biggest news on the markets this morning is House of Fraser’s decision to close 31 of its stores, including its London Oxford Street Store. The decision puts 6,000 jobs at risk and follows a period of poor performance for the department store chain.

Fallers included Princess Private Equity (LON:PEYS), down 6 percent, and Puretech (LON:PRTC), trading down 5.5 percent.

The German DAX also rose on Thursday morning, trading up 0.34 percent, with France’s CAC40 up 0.61 percent.