London stocks open higher; mid-caps rally on TP ICAP’s strong earnings

UK shares opened higher on Wednesday led by Coca-Cola HBC after the bottler’s upbeat annual revenue outlook, while mid-cap stocks rallied on TP ICAP’s strong earnings report.

The FTSE 100 index rose 0.7% by 0712 GMT, while the FTSE 250 index climbed 0.9%.

Beverage stocks gained 0.8%, with Coca-Cola HBC rising 3.3% after the company lifted its annual revenue target.

TP ICAP jumped 11.6% to the top of the mid-cap index, after the world’s biggest inter-dealer broker reported a higher half-year profit.

London stocks edge lower at open, Unite Group slips

Bank stocks rebounded after a sell-off in the previous session, as global sentiment improved after Italy’s government eased its stance on new banking levy.