Shares in Tate & Lyle rose 11p to finish on 730.5p yesterday following a positive trading update.

Tate & Lyle said that its pre-tax profit for the five months to 31 August was comfortably ahead of last year.

Andrew Saunders, an analyst from Numis Securities, said: “This is a very positive trading statement. And that is now quite usual for Tate & Lyle, which is a contrast to how it used to be when the business was more commodity focused.”