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    UKX   GB0001383545

FTSE 100

Delayed Great Britain  -  11:35 2022-07-01 am EDT
7168.65 PTS   -0.01%
7168.65 PTS
07/01European Stocks Mixed at Close Friday After Eurozone Inflation Hits New Record
07/01Wall Street Set for Losses as Recession Fears Linger
07/01European Bourses Wobble Midday on Recession, Inflation Outlooks
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Miners, strong earnings drive FTSE 100 higher; BoE meeting now in focus

04/29/2022 | 12:03pm EDT
FILE PHOTO: A worker shelters from the rain as he passes the London Stock Exchange in London

(Reuters) -London's FTSE 100 rose on Friday, driven by miners and strong quarterly earnings, with investors now focused on the Bank of England meeting next week amid concerns over the soaring cost of living.

The blue-chip index closed 0.5% higher, lifted by a 1.2% rise in shares of Dove soap maker Unilever and advances in miners.

The FTSE 100 has risen nearly 0.4% this month, helped by gains in energy majors, defensive consumer staples and pharmaceutical stocks such as AstraZeneca.

The Ukraine war, China's COVID lockdowns and surging inflation have weighed on the outlook for the global economy, sparking volatility ahead of a widely expected move by the British central bank to raise interest rates for a fourth straight meeting on May 5.

Financial markets have fully priced in a quarter-point rise in Bank Rate to 1.0%, its highest since 2009, and investors await what the Bank of England will signal about its next moves as it seeks to tackle surging prices.

"The coming months will see the Bank of England performing a high wire balancing act between retaining credibility on inflation-targeting on the one hand and nudging the economy towards recession on the other," said Laith Khalaf, head of investment analysis at AJ Bell.

Smurfit Kappa jumped 4.3% after the boxmaker's revenue and core profit both surged 33% year-on-year in the first quarter.

Pearson added 1.9% as the education group reiterated its full-year profit forecast after reporting underlying sales growth of 7% in the first quarter.

The domestically focused mid-cap FTSE 250 index advanced 0.4%, however, recorded a monthly dip of 2%.

Reckitt Benckiser Group rose 0.5% as it beat quarterly sales expectations, having increased prices to offset soaring raw material costs and flat volumes.

AO World Plc tumbled 13.0%, after the electricals retailer warned of a hit to profit in the near term due to inflationary pressures and supply chain woes.

(Reporting by Devik Jain and Amal S in Bengaluru;Editing by Vinay Dwivedi and Nick Macfie)

By Devik Jain

© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AO WORLD PLC -1.45% 68 Delayed Quote.-38.46%
AUSTRALIAN DOLLAR / BRITISH POUND (AUD/GBP) -0.74% 0.5629 Delayed Quote.5.78%
BASICNET S.P.A. -1.04% 5.72 Delayed Quote.-0.52%
CANADIAN DOLLAR / BRITISH POUND (CAD/GBP) 0.45% 0.641667 Delayed Quote.9.21%
EURO / BRITISH POUND (EUR/GBP) 0.02% 0.8623 Delayed Quote.2.56%
FTSE 100 -0.01% 7168.65 Delayed Quote.-2.92%
FTSE MID 250 INDEX -0.16% 18636.98 Delayed Quote.-20.63%
GOLD 0.19% 1810.1 Delayed Quote.-1.25%
INDIAN RUPEE / BRITISH POUND (INR/GBP) 0.63% 0.010477 Delayed Quote.4.92%
RECKITT BENCKISER GROUP PLC 0.94% 6228 Delayed Quote.-1.80%
RIO TINTO PLC -1.67% 4834.5 Delayed Quote.-1.18%
S&P GSCI GOLD INDEX -0.32% 1048.85 Real-time Quote.-1.16%
SILVER -1.93% 19.87 Delayed Quote.-13.02%
SMURFIT KAPPA GROUP PLC -2.21% 31.37 Real-time Quote.-35.24%
UNILEVER PLC 2.12% 3800 Delayed Quote.-3.69%
US DOLLAR / BRITISH POUND (USD/GBP) 0.54% 0.826856 Delayed Quote.11.26%
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Technical analysis trends FTSE 100
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Rankings FTSE 100
OCADO GROUP PLC 814 Delayed Quote.4.20%
SSE PLC 1677.5 Delayed Quote.3.81%
ROLLS-ROYCE HOLDINGS PLC 86.08 Delayed Quote.3.77%
MELROSE INDUSTRIES PLC 154.2 Delayed Quote.3.01%
COMPASS GROUP PLC 1728 Delayed Quote.2.86%
AUTO TRADER GROUP PLC 542.2 Delayed Quote.-2.31%
ANTOFAGASTA PLC 1121.5 Delayed Quote.-2.90%
ABRDN PLC 154.5 Delayed Quote.-3.35%
ANGLO AMERICAN PLC 2818.5 Delayed Quote.-4.03%
GLENCORE PLC 424.95 Delayed Quote.-4.53%
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