Blue-Chip Gains Amid Mixed Corporate Earnings
Britain's blue-chip FTSE 100 index rose by 0.3% on Wednesday due to strong performances by bank and healthcare stocks. However, energy and travel stocks declined. Associated British Foods dropped due to Primark sales decline, while Anglo American gained from a merger deal. Sage saw a boost in line with Oracle's projections.
In a mixed session on Wednesday, Britain's blue-chip FTSE 100 index saw a modest increase of 0.3%, predominantly driven by gains in bank and healthcare sectors. Haleon's shares rose 2.9% following an upgrade by Goldman Sachs, while banks advanced, with HSBC seeing a 1.1% uplift.
Meanwhile, energy stocks took a hit, declining by 0.4%, as heavyweights like Shell and BP dropped. Travel stocks also had a rough day, with companies like IAG and Wizz Air posting notable losses. The homebuilding sector struggled, led by Vistry's earnings slump impacting the mid-cap index.
Other notable movements included a 10.6% drop in Associated British Foods due to lower Primark sales expectations, while DCC rose 4.8% with strategic shareholder return plans. Anglo American continued its upward trajectory following a merger announcement, while Sage benefitted alongside peers, given Oracle's optimistic cloud order projections.
(With inputs from agencies.)
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