AIRLINK 81.10 Increased By ▲ 2.55 (3.25%)
BOP 4.82 Increased By ▲ 0.05 (1.05%)
CNERGY 4.09 Decreased By ▼ -0.07 (-1.68%)
DFML 37.98 Decreased By ▼ -1.31 (-3.33%)
DGKC 93.00 Decreased By ▼ -2.65 (-2.77%)
FCCL 23.84 Decreased By ▼ -0.32 (-1.32%)
FFBL 32.00 Decreased By ▼ -0.77 (-2.35%)
FFL 9.24 Decreased By ▼ -0.13 (-1.39%)
GGL 10.06 Decreased By ▼ -0.09 (-0.89%)
HASCOL 6.65 Increased By ▲ 0.11 (1.68%)
HBL 113.00 Increased By ▲ 3.50 (3.2%)
HUBC 145.70 Increased By ▲ 0.69 (0.48%)
HUMNL 10.54 Decreased By ▼ -0.19 (-1.77%)
KEL 4.62 Decreased By ▼ -0.11 (-2.33%)
KOSM 4.12 Decreased By ▼ -0.14 (-3.29%)
MLCF 38.25 Decreased By ▼ -1.15 (-2.92%)
OGDC 131.70 Increased By ▲ 2.45 (1.9%)
PAEL 24.89 Decreased By ▼ -0.98 (-3.79%)
PIBTL 6.25 Decreased By ▼ -0.09 (-1.42%)
PPL 120.00 Decreased By ▼ -2.70 (-2.2%)
PRL 23.90 Decreased By ▼ -0.45 (-1.85%)
PTC 12.10 Decreased By ▼ -0.89 (-6.85%)
SEARL 59.95 Decreased By ▼ -1.23 (-2.01%)
SNGP 65.50 Increased By ▲ 0.30 (0.46%)
SSGC 10.15 Increased By ▲ 0.26 (2.63%)
TELE 7.85 Decreased By ▼ -0.01 (-0.13%)
TPLP 9.87 Increased By ▲ 0.02 (0.2%)
TRG 64.45 Decreased By ▼ -0.05 (-0.08%)
UNITY 26.90 Decreased By ▼ -0.09 (-0.33%)
WTL 1.33 Increased By ▲ 0.01 (0.76%)
BR100 8,052 Increased By 75.9 (0.95%)
BR30 25,581 Decreased By -21.4 (-0.08%)
KSE100 76,707 Increased By 498.6 (0.65%)
KSE30 24,698 Increased By 260.2 (1.06%)

The UK’s main stock indexes climbed on Tuesday as investors took comfort from largely upbeat earnings reports, with WPP being a standout gainer, as well as signs of easing price pressures.

The exporter-heavy FTSE 100 rose 0.5% and the domestically focussed FTSE 250 added 0.4% by 0856 GMT.

Both indexes were trading near a three-week high.

Advertisement firm WPP rose 4.6%, the biggest percentage gainer on the FTSE 100, after it forecast 2023 operating profit margin at the top end of its previous guidance.

The British Retail Consortium said prices at shops rose at the slowest annual pace since May 2022 this month, adding to signs of easing inflation pressures ahead of the Bank of England’s (BoE) policy decision this week.

“Recent inflation and wage data suggests diminishing pressure to raise rates, and the central bank appears inclined to wait for a sustained movement towards the 2% inflation target before considering any rate cuts,” said Steve Matthews, investment director at Canada Life Asset Management.

FTSE 100 near two-week high on oil boost; Ryanair slides

“This cautious approach is expected to persist in the coming months, with a potential policy shift not anticipated before June, unless major economic shocks occur.”

The BoE is seen holding interest rates on Thursday, and it is a close call on whether the central bank starts trimming borrowing costs next quarter or in July-September, a Reuters poll found.

The indexes were also boosted by a record close for New York’s S&P 500 index on Monday ahead of this week’s slew of megacap earnings, economic data and the Federal Reserve’s monetary policy meeting.

SSP Group climbed 3.1% after the operator of food outlets at airports and train stations posted an over 14% sales growth in its first quarter.

Meanwhile, Diageo slipped 3.4% after the world’s top spirits maker missed first-half sales estimates, as a sharp decline in Latin America weighed on its overall performance.

Deliveroo fell 5.3% after Delivery Hero sold its 4.5% stake in the British meal delivery group in an accelerated bookbuild offering.

Comments

200 characters