ANL 16.20 Decreased By ▼ -0.18 (-1.1%)
ASC 14.63 Increased By ▲ 0.95 (6.94%)
ASL 20.04 Decreased By ▼ -0.41 (-2%)
BOP 8.55 Decreased By ▼ -0.05 (-0.58%)
BYCO 7.53 Increased By ▲ 0.24 (3.29%)
FCCL 17.50 Increased By ▲ 0.11 (0.63%)
FFBL 23.15 Increased By ▲ 1.68 (7.82%)
FFL 15.25 Increased By ▲ 0.35 (2.35%)
FNEL 7.35 Increased By ▲ 0.05 (0.68%)
GGGL 17.15 Increased By ▲ 0.74 (4.51%)
GGL 29.95 Increased By ▲ 0.10 (0.34%)
HUMNL 5.96 Increased By ▲ 0.17 (2.94%)
JSCL 20.68 Increased By ▲ 0.28 (1.37%)
KAPCO 28.99 Increased By ▲ 0.31 (1.08%)
KEL 3.48 Increased By ▲ 0.03 (0.87%)
MDTL 2.11 Decreased By ▼ -0.09 (-4.09%)
MLCF 33.60 Increased By ▲ 0.18 (0.54%)
NETSOL 106.00 Decreased By ▼ -1.55 (-1.44%)
PACE 4.33 Decreased By ▼ -0.17 (-3.78%)
PAEL 27.95 Increased By ▲ 0.75 (2.76%)
PIBTL 8.70 Increased By ▲ 0.10 (1.16%)
POWER 6.90 Decreased By ▼ -0.03 (-0.43%)
PRL 17.18 Increased By ▲ 0.87 (5.33%)
PTC 9.30 Increased By ▲ 0.12 (1.31%)
SILK 1.44 No Change ▼ 0.00 (0%)
SNGP 42.33 Increased By ▲ 0.27 (0.64%)
TELE 16.45 Decreased By ▼ -0.09 (-0.54%)
TRG 135.78 Decreased By ▼ -2.22 (-1.61%)
UNITY 29.90 Increased By ▲ 1.40 (4.91%)
WTL 2.40 Decreased By ▼ -0.05 (-2.04%)
BR100 4,668 Increased By ▲ 50.21 (1.09%)
BR30 20,892 Increased By ▲ 107.28 (0.52%)
KSE100 44,822 Increased By ▲ 487.85 (1.1%)
KSE30 17,521 Increased By ▲ 178.45 (1.03%)

Coronavirus
LOW Source: covid.gov.pk
Pakistan Deaths
28,269
1724hr
Pakistan Cases
1,264,384
72024hr
1.61% positivity
Sindh
465,486
Punjab
437,793
Balochistan
33,120
Islamabad
106,445
KPK
176,774
Markets

FTSE 100 gains on robust earnings, bumper dividends

  • Shell, Anglo American jump on strong earnings, dividends
  • Caterer Compass reports Q3 margins at top end of forecast
  • BT, Smith & Nephew top FTSE 100 losers
  • FTSE 100 up 0.9%, FTSE 250 adds 0.2%
Updated 29 Jul 2021

London's FTSE 100 ended higher on Thursday, as encouraging earnings and huge dividend payouts from some of the UK's biggest corporates helped support optimism around faster economic growth.

The blue-chip index rose 0.9%, led by a set of strong earnings and bumper dividends from oil major Royal Dutch Shell, miner Anglo American, pest control company Rentokil Initial, and event firm Informa . Their shares ended up between 3.8% and 7.3%.

Shell jumped 3.8% to be the top boost to the FTSE 100 after its second-quarter profit jumped to $5.5 billion, the highest in over two years, while Anglo American gained 5.4% after it increased its shareholder payout to $4.1 billion, following bumper earnings.

"Some of today's updates could raise optimism that there still remain a significant number of UK companies that may have further to go in terms of share price upside," said Michael Hewson, chief market analyst at CMC Markets.

FTSE 100 falls as Reckitt Benckiser's quarterly sales disappoint

Also supporting sentiment was Bank of England data that showed mortgage lending surged by a record amount in June as home buyers rushed to take advantage of a tax break before it was scaled back. Shares of homebuilders gained 0.9%

The domestically focussed mid-cap index edged 0.2% higher.

The FTSE 100 has recovered 41% from its March 2020 lows, supported by dovish central bank policies, although it has largely underperformed the local mid-cap index and wider European market peers on concerns about higher inflation and rising coronavirus cases.

"The UK market has been underowned and unloved for most of the global funds since Brexit and this perception doesn't look to change soon enough," said Keith Temperton, sales trader at Forte Securities.

Among other earnings, caterer Compass Group and information provider Relx added 3.8% and 3.5% respectively after reporting strong results.

Shares of communications company BT and medical technology company Smith & Nephew were the top losers on the FTSE 100 as their results failed to impress investors.

Comments

Comments are closed.