London midday: Stocks pare gains as early China boost fades
London stocks had pared gains by midday on Tuesday, as an early boost on the back of Chinese growth hopes faded.
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London stocks had pared gains by midday on Tuesday, as an early boost on the back of Chinese growth hopes faded.
Turnover at the FTSE 250 business - which trades as Utility Warehouse - skyrocketed by more than £1.5billion to a record £2.48billion for the 12 months ending March.
The FTSE 100 Index closed Tuesday up 0.1% to 7461 points pushed by banks and miners as hopes of state support for the Chinese economy backed commodity prices, AJ Bell investment director Russ Mould says in a note.
The cost of living crisis has helped to drive an influx of customers to bundled deals at Utility Warehouse, generating record profits at the energy and tele
London stock markets presented a muted picture at the close of trading on Tuesday, following an early surge influenced by optimism about Chinese economic growth, which subsequently lost momentum.