FTSE 100 outperforms European peers on strong earnings, upbeat GDP data Global stocks extend sell-off from previous session about an hour ago
London’s FTSE 100 rebounded on Wednesday, supported by positive earnings updates from companies including Diageo, while stronger-than expected monthly GDP data bolstered optimism about a sharp recovery from the pandemic-driven slump last year. The blue-chip index rose 0.3 per cent, with spirits maker Diageo adding 2.7 per cent after it forecast organic operating profit growth to be at least 14 per cent in its current fiscal year and restarted its capital return programme. Catering company Compass Group rose 1.9 per cent as it said its fiscal third-quarter margins would improve sequentially, supported by cost-cutting measures, after reporting a slight profit and revenue beat in the first half.