* FTSE 100 up 0.5 pct
* FTSE 250 up 1.1 pct
* WPP surges as investors cheer 2018 results
* Relx skids on its worst day in ~10 yrs
* LSE rises after profit surge
* Robert Walters jumps on higher earnings (Adds news items, milestones, analyst comment and updates to closing prices)
By Muvija M
March 1 (Reuters) - A surge in WPP shares after it reported underlying sales that were better than feared helped the British blue-chip bourse snap a three-day losing streak on Friday, while the midcaps surged to a four-month high.
The FTSE 100 added 0.5 percent, as a steep fall in information and analytics provider Relx curbed gains in the index, while the FTSE 250 bounced 1.1 percent to levels not seen since early November.
Ireland's main share index .ISEQ , seen as a barometer for Brexit sentiment, meanwhile rose 1.3 percent to its highest since November.
"I think the market is progressively anticipating a compromise (on Brexit) ... I remain optimistic regarding the pound and more domestic UK shares," Raymond (NS: RYMD ) James analyst Chris Bailey said.
WPP WPP.L , the world's biggest advertising company, jumped 5 percent on its best day in nearly a year after results showed that although underlying net sales fell 0.4 percent in 2018, it was better than a forecast of a 0.5 percent dip. Stock Exchange Group LSE.L added 4.2 percent after a rise in 2018 adjusted operating profit and a round of job cuts. positive read-across from Italian luxury group Moncler's MONC.MI results sent Burberry BRBY.L 3.1 percent higher.
"I think the people who wished they'd bought into the market two weeks ago are buying in now," CMC (NS: CMC ) Markets analyst David Madden said.
"A lot of the negative news has been overlooked in recent weeks and traders are viewing that as a sign that negative news hasn't held sentiment back so far and is probably not going to hold it back in the near term."
A dip in the pound helped lift shares in dollar earners, with British American Tobacco BATS.L rising 4 percent.
Relx REL.L was a sour spot on the FTSE 100, slumping 7 percent for its worst day in nearly a decade as the University of California announced its intention not to renew its subscription with the company's Elsevier unit. news also dragged the stock into the red for the year.
Among midcaps, asset manager Jupiter Fund Management JUP.L jumped 7.6 percent after it said its capital surplus had increased, margins were steady and costs were set to be lower in the year ahead.
Industrial firm Coats Group COA.L underperformed with an 8 percent drop as its full-year operating profit was hit by a rise in costs.
Small-cap recruiter Robert Walters RWA.L surged 12 percent as investors focused on the positive 2018 results rather than a cautious tone set by the company on Brexit and its impact on confidence.
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ WPP slow to catch up with changing landscape in advertising industry
Add Chart to Comment
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 Investing.com’s discretion.