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LONDON MARKET MIDDAY: Miners help lift FTSE 100 above 7,000 mark
Wed, 5th May 2021 12:27
(Alliance News) - Stock prices in London were higher at midday on Wednesday with miners driving the FTSE 100 back above the 7,000 mark, while investors look ahead to key US economic data in the afternoon.
The flagship UK stock index was up 81.95 points, or 1.2%, at 7,005.12. The mid-cap FTSE 250 index was up 47.65 points, or 0.2%, at 22,377.56. The AIM All-Share index was up 0.3% at 1,265.34.
The Cboe UK 100 index was up 1.3% at 697.30. The Cboe 250 was up 0.2% at 20,042.81, and the Cboe Small Companies down 0.1% at 14,675.26.
In mainland Europe, the CAC 40 in Paris was up 0.3%, while the DAX 30 in Frankfurt was up 1.2%.
5 May 2021 | 16:36pm
StockMarketWire.com - Powered by gains in the mining sector and other areas which will benefit from a reopening of the global economy the FTSE 100 made strong progress on Wednesday, closing the day up 1.7% at 7,039.30.
By 4.30pm UK time the S&P 500 had made more modest gains of 0.3% to 4,178.31.
Television broadcaster ITV gained 2.2% to 127.1p as it reported a 2% uptick in first-quarter revenue amid an ongoing rebound in the advertising market.
ITV said total advertising revenue in the first half was forecast to be up around 26% year-on-year.
Online fashion retailer Boohoo shed 2% to 320.1p despite reporting a 35% rise in annual pre-tax profit, underpinned by a 41% jump in sales.
The British firm is cautiously optimistic about its future performance.
CFO says consumer spending is now approaching pre-pandemic levels.
Virgin Money UK plc (LON: VMUK) said on Wednesday it swung back to a pre-tax profit in fiscal H1 as impairment charges declined sharply. The company also highlighted that it was cautiously optimistic about its future performance.
Virgin Money UK shares slid about 2% in premarket trading on Wednesday and lost another 5% on market open. The stock is currently exchanging hands at 193 pence per share versus a much lower 131 pence per share at the start of the year.
Virgin Money’s underlying profit jumps more than 100%
5 May 2021 | 11:50am
StockMarketWire.com - The FTSE 100 made a big recovery after yesterday s US tech inspired sell-off, surging 1.2% to just reclaim the 7,000 mark by midday.
Miners were leading the charge, with BHP, Glencore and Rio Tinto all making gains.
Television broadcaster ITV ticked up 0.4% to 124p as it reported a 2% uptick in first-quarter revenue amid an ongoing rebound in the advertising market.
ITV said total advertising revenue in the first half was forecast to be up around 26% year-on-year.
Online fashion retailer Boohoo shed 0.9% to 323.67p despite reporting a 35% rise in annual pre-tax profit, underpinned by a 41% jump in sales.
Boohoo forecast lower, but still respectable, revenue growth in the current year of 25%.