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London stocks gain on earnings support, fresh lockdowns weigh

Published 01/14/2021, 04:33 PM
Updated 01/14/2021, 04:40 PM
© Reuters.
UK100
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TSCO
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WTB
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TW
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FTMC
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FTNMX301010
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FTUB3510
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BOOH
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(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
* 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. The 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. Tesco 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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