Breaking News
Ad-Free Version. Upgrade your experience. Save up to 40% More details

Energy, bank stocks boost FTSE 100; Bloomsbury jumps

Stock MarketsJun 02, 2021 17:11
Saved. See Saved Items.
This article has already been saved in your Saved Items
2/2 © Reuters. FILE PHOTO: A man wearing a protective face mask walks past the London Stock Exchange Group building in the City of London financial district, whilst British stocks tumble as investors fear that the coronavirus outbreak could stall the global economy, in 2/2

By Devik Jain and Shivani Kumaresan

(Reuters) -London's FTSE 100 index climbed on Wednesday, helped by gains in heavyweight energy and banking stocks, while Bloomsbury Publishing jumped on a robust earnings report.

The blue-chip index rose 0.4%, with oil majors BP (LON:BP) and Royal Dutch Shell (LON:RDSa) climbing 1.9% and 2.2% respectively, as crude prices extended gains. [O/R]

Banks, including HSBC, Prudential (LON:PRU) Plc, Lloyds Banking Group (LON:LLOY) and Barclays (LON:BARC) also provided the biggest boosts to the index.

The domestically focused mid-cap FTSE 250 index advanced 0.3%, touching a record high.

Bloomsbury Publishing surged 11.3% as the Harry Potter publisher declared a special dividend and lifted its targets for the current year, as strong book sales during lockdowns drove a 22% surge in its annual earnings. [nL3N2NK1LT]

"An upbeat assessment of demand from producers’ cartel OPEC and the waning prospect of a big increase in Iranian supply have helped support a rally in crude prices. Something which could make the market a little nervous if it is sustained given investors’ current preoccupation with inflation risks," said Danni Hewson, financial analyst at AJ Bell.

The FTSE 100 index has traded in a tight range since April as concerns grew that central banks might pare support early as economies reopen and inflation climbs.

British mortgage lending slumped in April as a government decision to prolong a tax break on property sales came too late to influence buyers that month, but housing market activity looks on course to rebound, Bank of England data showed.

Global stock markets hovered near record highs despite wary investors remaining unconvinced by central bank assurances that the current inflation upsurge is transient. [MKTS/GLOB]

Among other stocks, Tate & Lyle (LON:TATE) rose 2.5%, after Berenberg upgraded the food ingredients maker's stock to "buy" on prospects of a business split. [nL3N2NK1ZB]

Burberry Group (LON:BRBY) jumped 3.5% to the top of the FTSE 100 index after Exane BNP Paribas (PA:BNPP) upgraded the stock to "outperform" from "neutral". [nL5N2NK1B6]

Energy, bank stocks boost FTSE 100; Bloomsbury jumps

Related Articles

O’Reilly Automotive Earnings, Revenue beat in Q2
O’Reilly Automotive Earnings, Revenue beat in Q2 By - Jul 28, 2021 - O’Reilly Automotive reported on Wednesday second quarter earnings that beat analysts' forecasts and revenue that topped expectations. O’Reilly...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email