AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 127.04 No Change ▼ 0.00 (0%)
BOP 6.67 No Change ▼ 0.00 (0%)
CNERGY 4.51 No Change ▼ 0.00 (0%)
DCL 8.55 No Change ▼ 0.00 (0%)
DFML 41.44 No Change ▼ 0.00 (0%)
DGKC 86.85 No Change ▼ 0.00 (0%)
FCCL 32.28 No Change ▼ 0.00 (0%)
FFBL 64.80 No Change ▼ 0.00 (0%)
FFL 10.25 No Change ▼ 0.00 (0%)
HUBC 109.57 No Change ▼ 0.00 (0%)
HUMNL 14.68 No Change ▼ 0.00 (0%)
KEL 5.05 No Change ▼ 0.00 (0%)
KOSM 7.46 No Change ▼ 0.00 (0%)
MLCF 41.38 No Change ▼ 0.00 (0%)
NBP 60.41 No Change ▼ 0.00 (0%)
OGDC 190.10 No Change ▼ 0.00 (0%)
PAEL 27.83 No Change ▼ 0.00 (0%)
PIBTL 7.83 No Change ▼ 0.00 (0%)
PPL 150.06 No Change ▼ 0.00 (0%)
PRL 26.88 No Change ▼ 0.00 (0%)
PTC 16.07 No Change ▼ 0.00 (0%)
SEARL 86.00 No Change ▼ 0.00 (0%)
TELE 7.71 No Change ▼ 0.00 (0%)
TOMCL 35.41 No Change ▼ 0.00 (0%)
TPLP 8.12 No Change ▼ 0.00 (0%)
TREET 16.41 No Change ▼ 0.00 (0%)
TRG 53.29 No Change ▼ 0.00 (0%)
UNITY 26.16 No Change ▼ 0.00 (0%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 10,010 Increased By 126.5 (1.28%)
BR30 31,023 Increased By 422.5 (1.38%)
KSE100 94,192 Increased By 836.5 (0.9%)
KSE30 29,201 Increased By 270.2 (0.93%)

LONDON: The British mid-cap stock index rose to a record high on Tuesday, helped by gains in industrials and consumer discretionary stocks, while an upbeat reading on factory activity infused confidence on the economic recovery.

The domestically focused mid-cap FTSE 250 index advanced 0.8% as a deluge of new orders helped drive a record increase in British manufacturing activity last month as the economy began to recover from the Covid-19 pandemic.

The blue-chip index climbed 0.8%, with base metal miners gaining 3.7% as they tracked higher copper and iron ore prices.

Oil majors BP and Royal Dutch Shell added more than 1.2% each after Brent crude topped $70-mark on favourable demand outlook.

“UK markets has been the big beneficiary of inflation trade since it is a heavily weighted market with the commodity sector. At the same time, it’s underperforming when compared to the rest of Europe,” said Keith Temperton, a sales trader at Forte Securities.

Mortgage lender Nationwide said British house prices jumped by an annual 10.9%, the most in nearly seven years, apparently set to accelerate further as people seek new homes after the pandemic. The wider homebuilders index rose 2.1%. 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.

Among other stocks, Wickes Group added 4.7% after the do-it-yourself retailer said its full-year profit would be in the upper half of analyst expectations after sales surged in April.

M&C Saatchi jumped 12.1% after the advertising agency forecast upbeat annual results on new robust campaigns. Travel food group SSP Group rose 3.0% after Peel Hunt upgraded the stock to “add” on potential growth from European air market opening.

Comments

Comments are closed.