UK shares benefit from positive earnings reports

Last week was volatile on UK market, as investors received mixed signals about the UK economy, including lower-than-expected Christmas sales, and hawkish comments from central bank officials. The FTSE 100 fell 0.9%.

This morning, the index edged up 0.1%, thanks to positive corporate earnings. Investors are also still focused on slowing rate hikes and the reopening of the Chinese economy.

Among stocks, National Express Group climbed 4% after the transport firm announced that its National Express Rail GmbH business has won a contract worth €1 billion t to operate express lines in Germany to 2033.

Dignity Plc jumped 8.4% after the funeral services provider said it will be acquired by a consortium of investment firms in a deal worth 281 million pounds.

Meanwhile, Fuller, Smith & Turner fell 6.5% after issuing disappointing guidance.

 

Things to read today:

Millionaires Continued to Flee Post-Brexit Britain in 2022 (Bloomberg)

Sunak accused of burdening UK economy with legislative chaos (Financial Times)

Eurozone set to avoid recession this year as economists’ gloom lifts (Financial Times)