Earnings help lift FTSE 100

Business | 22 Jul 2021 4:30 pm

British stocks gained on Thursday as a set of positive corporate results helped outweigh concerns over increasing coronavirus infections, while Unilever was the worst blue-chip performer after it cut its full-year margin forecasts, Reuters reports.

The blue-chip FTSE 100 index inched 0.1 percent higher, led by travel, retail, and banking stocks.

Unilever Plc dropped by 4 percent after it reduced annual operating margin forecast while reporting higher-than-expected underlying sales growth for the second quarter.

The domestically focused mid-cap index climbed by 0.7 percent, with Howden Joinery Group and IG Group being the top boost to the index on positive results.

Transport firm FirstGroup jumped by 3.1 percent after it increased its planned shareholder returns by US$185.29 million after closing the sale of its U.S. bus assets to private equity firm EQT Infrastructure.

 



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