Associated British Ports (ABP) has soared to the summit of London's financial markets after a successful year.

The UK authority topped the FTSE 250 after showing pre-tax profits in the upper reaches of market expectations.

Previously, ABP shares had come under serious pressure from arch-rival Mersey Ports – until the latter sent out profit warnings to the City on December 14.

Since then, APB shares have bounced back 24p to 400p.