LONDON: London-listed stocks logged their best day in nearly two weeks on Wednesday on signs of progress in securing a new Brexit trade deal and optimism over a global recovery aided by the rollout of coronavirus vaccines.
The domestically focused FTSE 250 index jumped 1.2%, rising for a third straight session, helped by a 10.5% surge in shares of Dixons Carphone’s after the electricals retailer posted a big rise in first-half profit.
The blue-chip FTSE 100 index firmed about 0.9%, with Wall Street also edging up on signs that another fiscal stimulus package was imminent, while investors also awaited the US Federal Reserve’s policy decision later in the day.
Among individual movers, Fashion retailer Superdry jumped 9.6% as it said interim Chief Executive Officer Julian Dunkerton would take the top job on a permanent basis.
The European Union’s chief executive said headway had been made in the long-running trade talks with Britain and that the next few days would be critical ahead of an end-of-year deadline. Latest business surveys showed Britain’s economy limped back to growth in December following November’s four-week lockdown in England, although hospitality businesses still struggled with restrictions.
“Today’s UK PMI release provides a ray of hope in what may otherwise be a tough winter,” said Jai Malhi, global market strategist at J.P. Morgan Asset Management.—Reuters
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