AIRLINK 62.48 Increased By ▲ 2.05 (3.39%)
BOP 5.36 Increased By ▲ 0.01 (0.19%)
CNERGY 4.58 Decreased By ▼ -0.02 (-0.43%)
DFML 15.50 Increased By ▲ 0.66 (4.45%)
DGKC 66.40 Increased By ▲ 1.60 (2.47%)
FCCL 17.59 Increased By ▲ 0.73 (4.33%)
FFBL 27.70 Increased By ▲ 2.95 (11.92%)
FFL 9.27 Increased By ▲ 0.21 (2.32%)
GGL 10.06 Increased By ▲ 0.10 (1%)
HBL 105.70 Increased By ▲ 1.49 (1.43%)
HUBC 122.30 Increased By ▲ 4.78 (4.07%)
HUMNL 6.60 Increased By ▲ 0.06 (0.92%)
KEL 4.50 Decreased By ▼ -0.05 (-1.1%)
KOSM 4.48 Decreased By ▼ -0.09 (-1.97%)
MLCF 36.20 Increased By ▲ 0.79 (2.23%)
OGDC 122.92 Increased By ▲ 0.53 (0.43%)
PAEL 23.00 Increased By ▲ 1.09 (4.97%)
PIAA 29.34 Increased By ▲ 2.05 (7.51%)
PIBTL 5.80 Decreased By ▼ -0.14 (-2.36%)
PPL 107.50 Increased By ▲ 0.13 (0.12%)
PRL 27.25 Increased By ▲ 0.74 (2.79%)
PTC 18.07 Increased By ▲ 1.97 (12.24%)
SEARL 53.00 Decreased By ▼ -0.63 (-1.17%)
SNGP 63.21 Increased By ▲ 2.01 (3.28%)
SSGC 10.80 Increased By ▲ 0.05 (0.47%)
TELE 9.20 Increased By ▲ 0.71 (8.36%)
TPLP 11.44 Increased By ▲ 0.86 (8.13%)
TRG 70.86 Increased By ▲ 0.95 (1.36%)
UNITY 23.62 Increased By ▲ 0.11 (0.47%)
WTL 1.28 No Change ▼ 0.00 (0%)
BR100 6,941 Increased By 63.6 (0.92%)
BR30 22,802 Increased By 233 (1.03%)
KSE100 67,176 Increased By 628.6 (0.94%)
KSE30 22,090 Increased By 175.1 (0.8%)

LONDON: London’s FTSE 100 ended higher on Wednesday, helped by gains in travel stocks and retailers, while data showed UK factory activity grew in August at the weakest rate for six months.

The blue-chip FTSE 100 index climbed 0.4% to have its best session in three weeks, with travel and leisure stocks and retailers both up over 1%.

Meanwhile, a survey showed British factory output grew in August at the weakest rate for six months as supply chain problems weighed on manufacturers’ recovery from the COVID-19 pandemic.

The FTSE 100 has gained 10.6% so far this year, but continues to lag its European and US peers as a resurgence in coronavirus cases across the world has sparked concerns of a slowdown in global economic growth.

“Corporate results are strong, but the COVID crisis is not over,” said Ipek Ozkardeskaya, a senior analyst at Swissquote Bank, adding the Delta coronavirus variant, global inflation spikes, and worsening chip and other material shortages would at some point affect businesses.

“But the markets are on path for more gains. Nobody can tell how healthy the actual trend is, where it will end, or how it will end ... but for now, the overall market holds on to its gains and no one dares saying ‘the king is naked’.”

The domestically focussed mid-cap index advanced 0.6%, hitting another intraday record high at 24,290.06.

Homebuilders fell 0.1% despite figures from mortgage lender Nationwide showing British house prices rose by 2.1% month-on-month in August.

Among stocks, WH Smith slipped 3.8% to be the worst performing stock on the mid-cap index after the retailer provided a grim annual profit forecast.

JD Sports Fashion rose 3% after Berenberg raised its price target on the stock of Britain’s biggest sportswear retailer.

Comments

Comments are closed.