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FTSE 100 gains on earnings boost, Vodafone jumps

Published 12/05/2020, 08:28
Updated 12/05/2020, 08:30
© Reuters.
UK100
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VOD
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KGF
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MRW
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FTMC
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(For a live blog on European stocks, type LIVE/ in an Eikon
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* FTSE 100 up 0.5%, FTSE 250 up 0.2%

May 12 (Reuters) - London's FTSE 100 headed higher on
Tuesday as a batch of upbeat quarterly earnings updates
outweighed concerns about a slower economic recovery as
countries balance reopening businesses with avoiding a potential
jump in COVID-19 cases.
The blue-chip FTSE 100 .FTSE gained 0.5%, with Vodafone
VOD.L , the world's second largest mobile operator, jumping
3.4% to the top of the index after meeting full-year profit
expectations and saying it was seeing significant increases in
data volumes. Home improvement group Kingfisher KGF.L said sales in the
three months ended April fell by a quarter, but its shares rose
6.5% as it said store re-openings meant it was seeing an
improving trend at the beginning of May. The stock was the top boost to the domestically focussed
FTSE 250 .FTMC , pushing up the index 0.2%.
Supermarket group Morrisons MRW.L added 1.4% after
reporting a 5.7% rise in group like-for-like sales in its latest
quarter, with demand boosted by the country's coronavirus
lockdown.

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