London stocks rise on upbeat earnings; Dunelm jumps

FILE PHOTO: Pedestrians leave and enter the London Stock Exchange in London, Britain August 15, 2017. REUTERS/Neil Hall

(Reuters) – UK stocks rose on Wednesday as a clutch of positive corporate results helped outweigh concerns about the economic impact from prolonged coronavirus-induced lockdowns, with Dunelm jumping after saying it would resume dividend payouts.

The homeware retailer also reported a higher first-half profit on strong online demand, sending its shares 6.1% higher.

The blue-chip FTSE 100 was up 0.6% by 0806 GMT, with the financials sector tracking gains in Europe after upbeat earnings from Societe Generale and Dutch bank ABN Amro. The mid-cap FTSE 250 index rose 0.4% to extend gains into an eighth straight session.

Asian stocks hit a record high earlier in the day on hopes of more U.S. fiscal stimulus to boost economic growth. [MKTS/GLOB]

Homebuilder Redrow added 0.4% after reporting an 11% rise in its first-half profit, while insurer Lancashire rose 2.3% as it posted a surprise profit for the year.

Source: Read Full Article