London stocks gain on earnings support, fresh lockdowns weigh

  • Reuters
  • Stock Market News
London stocks gain on earnings support, fresh lockdowns weigh
Credit: © Reuters.

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* FTSE 100 up 0.3%, FTSE 250 adds 0.7%

Jan 14 (Reuters) - British shares gained on Thursday as a set of positive earnings helped support investor sentiment at a time when rising COVID-19 infections and fresh lockdowns across Europe raised fiscal health concerns.

However, gains were capped as a major chunk of the global recovery in companies' earnings expected in the first quarter is at risk of being pushed back further as mobility restrictions cloud hopes of a swifter economic rebound, investment banks said. blue-chip FTSE 100 index .FTSE gained 0.3%, with banks .FTNMX8350 and real estate stocks .FTUB8600 gaining the most. The mid-cap index .FTMC gained 0.7%.

Homebuilder Taylor Wimpey TW.L dropped 1.6% even after saying its 2020 operating profit would meet market expectations, while Premier Inn-owner Whitbread WTB.L gained 0.6% on lower job cuts than earlier expected.

A boom in Britain's housing market has started to fade, dampened by new COVID-19 lockdowns and the coming expiry of a temporary tax cut for buyers, a survey showed. TSCO.L , Britain's biggest retailer, fell 2.1% even as it reported buoyant Christmas trading, while fashion retailer Boohoo BOOH.L slipped 3.4% even after raising its annual revenue target.

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