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FTSE 100 gains on earnings cheer, mining stocks boost

FTSE 100 gains on earnings cheer, mining stocks boost
FTSE 100 gains on earnings cheer, mining stocks boost   -   Copyright  Thomson Reuters 2021
By Reuters

– London’s FTSE 100 climbed on Wednesday, helped by strong earnings and heavyweight miners, although investor mood remained cautious over rising COVID-19 infections and risks of higher inflation.

The blue-chip FTSE 100 advanced 0.5% with builder Taylor Wimpey being the top gainer, while miners BHP Group, Rio Tinto and Anglo American were the top boosts on the back of strong base metal prices.

Taylor Wimpey gained 6.1% as it joined bigger rivals in forecasting sustained demand and forecast annual operating profit above the top end of market consensus.

The domestically focused mid-cap index inched 0.3% higher.

Legal & General gained 2.4% after it posted an above-forecast 14% rise in first-half operating profit and said it saw continued strong growth.

British e-commerce company The Hut Group rose 3.6% after it said it would buy UK-based online beauty retailer Cult Beauty for 275 million pounds ($382.91 million).