London stocks rise on upbeat earnings; Dunelm jumps

  • Reuters
  • Stock Market News
London stocks rise on upbeat earnings; Dunelm jumps
Credit: © Reuters.

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* FTSE 100 up 0.6%, FTSE 250 adds 0.4%

Feb 10 (Reuters) - UK stocks rose on Wednesday as a clutch of positive corporate results helped outweigh concerns about the economic impact from prolonged coronavirus-induced lockdowns, with Dunelm jumping after saying it would resume dividend payouts.

The homeware retailer DNLM.L also reported a higher first-half profit on strong online demand, sending its shares 6.1% higher. blue-chip FTSE 100 .FTSE was up 0.6% by 0806 GMT, with the financials sector tracking gains in Europe after upbeat earnings from Societe Generale SOGN.PA and Dutch bank ABN Amro ABNd.AS . The mid-cap FTSE 250 index .FTMC rose 0.4% to extend gains into an eighth straight session.

Asian stocks hit a record high earlier in the day on hopes of more U.S. fiscal stimulus to boost economic growth. MKTS/GLOB

Homebuilder Redrow RDW.L added 0.4% after reporting an 11% rise in its first-half profit, while insurer Lancashire LRE.L rose 2.3% as it posted a surprise profit for the year.

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