January 20, 2023

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

BENGALURU, Jan 20 (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.

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

Industrial metals (.FTNMX551020) and energy firms (.FTNMX601010) 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.

Meanwhile, data showed that monthly retail sales in December unexpectedly narrowed further as higher food prices squeezed consumers. However, the retail sector (.FTNMX404010) added 0.2%.

Among stocks, Standard Chartered (STAN.L) advanced 1.2% after it won an approval to set up a new securities brokerage unit in China. The broader banking sector (.FTNMX301010) added 0.4%.

4Imprint Group (FOUR.L) 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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