January 20, 2023

UK's FTSE 100 rebounds on boost from mining, energy stocks; 4imprint jumps

BENGALURU (Reuters) – UK’s commodity-heavy FTSE 100 bounced back on Friday after ending lower in the previous session, supported by miners and energy firms, while marketing firm 4imprint jumped on an upbeat profit forecast.

© Thomson Reuters
FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain

The export-oriented FTSE 100 rose 0.3% but was set to end the week in the red, while the FTSE 250 added 0.1%.

Industrial metals and energy firms were the biggest boost on the benchmark index gaining 1.0% and 1.3%, respectively, as crude oil and copper prices climbed on a brighter economic outlook from top-consumer China. [MET/L] [O/R]

Meanwhile, data showed that monthly retail sales in December unexpectedly narrowed further as higher food prices squeezed consumers. However, the retail sector added 0.2%.

Among stocks, Standard Chartered advanced 1.2% after it won an approval to set up a new securities brokerage unit in China. The broader banking sector added 0.4%.

4Imprint Group rose 3.8%, after it said it expected full-year profit before tax to be above the upper end of range of analysts’ forecasts.

(Reporting by Johann M Cherian in Bengaluru; Editing by Rashmi Aich)

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