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FTSE 100 rises as Prudential leads financials higher

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By Reuters
FTSE 100 rises as Prudential leads financials higher
FTSE 100 rises as Prudential leads financials higher   -   Copyright  Thomson Reuters 2022

– London’s FTSE 100 rose on Wednesday, aided by gains in financial stocks after insurer Prudential reported upbeat earnings, while Unilever climbed after the food company suspended imports and exports out of Russia.

The blue-chip index FTSE 100 rose 2.2% in early trading, with banks and insurers leading the gains.

Prudential jumped 5.8% after the Asia-focussed insurer posted a 16% rise in its 2021 operating profit, boosted by strong new insurance sales as the region battles the pandemic.

The domestically focused mid-cap index advanced 2.4%, with travel and leisure among the top gainers.

Unilever rose 1.0% after it became the first major European food company to stop imports and exports out of Russia on Tuesday following the country’s invasion of Ukraine.