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

UPDATE 2-FTSE 100 gains on upbeat Coca-Cola HBC outlook; Relx shines

Published 11/02/2021, 10:36
Updated 11/02/2021, 18:36
© Reuters
UK100
-
AZN
-
REL
-
FTMC
-
FTNMX451010
-
FTUB3510
-
TED
-
AZN
-
IDSI
-
CCH
-

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
* Royal Mail rises on revenue jump
* Ted Baker falls on poor results
* FCA says 40% of Britons face financial problems
* FTSE 100 up 0.1%, FTSE 250 adds 0.1%

(Updates to market close)
By Shashank Nayar and Shivani Kumaresan
Feb 11 (Reuters) - London's FTSE 100 rose on Thursday as
upbeat earnings outlooks and dividend hikes from soft drink
bottler Coca-Cola HBC and information group Relx boosted
investors' hopes for a speedy economic recovery.
Coca-Cola HBC CCH.L jumped 4.6% to the top of the
blue-chip index after raising its dividend and saying it expects
2021 revenue to bounce back strongly as at-home demand cushions
a hit to consumption in hotels and restaurants. European information business provider Relx REL.L was also
among the biggest gainers on the index, up 2.9% after it said
it planned to raise its dividend by 3%. The FTSE .FTSE rose 0.1% with industrial stocks such as
Intertek Group Plc ITRK.L and Ashtead Group plc AHT.L
leading gains.
The mid-cap index .FTMC also inched up 0.1%.
"Constant liquidity infusion by central banks is continuing
to help support equities, in addition to the hope and optimism
among investors that the vaccine roll-outs will help the economy
get back on track," said Keith Temperton, sales trader at Forte
Securities.
Weighing on sentiment was a sharp drop in oil heavyweights
with BP BP.L and Royal Dutch Shell RDSa.L falling 0.5% and
2.2% respectively as oil prices slumped on renewed demand
concerns O/R
A raft of global stimulus has helped the FTSE 100 rebound
nearly 30% from a coronavirus-induced crash in March 2020, but
the index is still about 15% below its highest level last year,
underperforming its European and U.S. peers.
More than 40 percent of Britons are struggling financially
or suffering poor health, Britain's Financial Conduct Authority
said. “This is unsurprising given the health, lifestyle and
financial impact the pandemic has had on people's lives, but
nonetheless remains seriously worrying," said Tom Selby, senior
analyst at AJ Bell.
Retailer Ted Baker TED.L plunged 9.0% after reporting a
47% fall in fourth-quarter revenue, as stores in Britain were
shut during the latest lockdown and due to weak demand during
the Christmas season. Royal Mail RMG.L rose 4.9% after its quarterly revenue
jumped 20%, while the company also forecast an annual profit of
more than 500 million pounds ($692.20 million).

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.