🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

UPDATE 2-London stocks rise on earnings boost, virus worries cap gains

Published 15/01/2021, 04:30 am
© Reuters.
UK100
-
EZJ
-
RIO
-
BHPB
-
ABF
-
WTB
-
TW
-
HG
-
FTMC
-
FTNMX551030
-
FTNMX601010
-
TUIT
-

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

* Whitbread gains on lower job cuts than expected

* Primark owner AB Foods jumps on higher sales expectations

* British housing market boom fades - survey

* FTSE 100 up 0.8%, FTSE 250 adds 0.8% (Updates to close)

By Shashank Nayar

Jan 14 (Reuters) - British shares ended higher on Thursday as a slew of upbeat corporate earnings supported investor sentiment at a time when rising cases of COVID-19 and fresh lockdowns across Europe raised concerns about fiscal health.

The blue-chip FTSE 100 index .FTSE gained 0.8%, after three consecutive sessions of declines, with mining .FTNMX1770 and energy stocks .FTNMX0530 gaining the most.

"Investors are more or less sitting on the sidelines and trade is expected to be subdued as the market waits for more forward earnings guidance from corporates to assess the damage from climbing virus cases," said Andrea Cicione, head of strategy at TS Lombard.

Miners BHP Group BHPB.L and Rio Tinto RIO.L were the top boosts to the index after data showed copper and iron ore imports by China, the biggest metals consumer, hit record highs in 2020. mid-cap index .FTMC gained 0.8%, with travel stocks easyJet EZJ.L and TUI AG TUIT.L being the top boosts.

Holiday company TUI gained 5% after it said the vaccine roll-out in Britain had boosted summer bookings from those aged 50 and over, with that age group accounting for 50% of all web bookings since the end of last year. FTSE 100 has recorded consistent monthly gains since November, supported by hopes of a vaccine-led economic recovery, but it has recently lost steam as a wave of coronavirus infections sparked new business restrictions.

A boom in Britain's housing market has started to fade, dampened by new COVID-19 lockdowns and the coming expiry of a temporary tax cut for buyers, a survey showed. Taylor Wimpey TW.L jumped 2.5% after saying its 2020 operating profit would meet market expectations, while Premier Inn-owner Whitbread WTB.L gained 4.3% on lower job cuts than earlier expected. owner AB Foods ABF.L rose 1.2% after it said it is confident of strong growth upon reopening, but warned of higher loss of sale if current lockdowns last till March. ($1 = 0.7310 pounds)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.