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Travel stocks lift London shares as higher unemployment rate weighs

Published 11/10/2020, 04:23 PM
Updated 11/10/2020, 04:30 PM
© Reuters.
UK100
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PFD
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FTMC
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FTNMX502010
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FTNMX405010
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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 0.6%; FTSE 250 adds 0.4%

Nov 10 (Reuters) - London's FTSE 100 rose on Tuesday after
scaling a near three-month high in the previous session,
although gains were capped on a slightly stronger pound, while a
higher jobless rate stoked fears of a faltering economic
recovery.
The blue-chip FTSE 100 index .FTSE rose 0.6%. The
domestically-focussed mid-cap FTSE 250 index .FTMC added 0.5%,
boosted by travel and leisure .FTNMX5750 and aero .FTNMX2710
stocks.
Official data showed layoffs in Britain hit a record high
during the third quarter as the unemployment rate jumped to
4.8%, while surveys said consumer spending faded in October even
as the re-introduction of lockdowns prompted a renewed
stockpiling spree. Shares in Premier Foods Plc PFD.L jumped 3.9% after it
raised its full-year trading profit outlook and said it expects
higher demand for its brands due to the recent government
restrictions on eating out.


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