London stocks gain on quicker recovery hopes; Vodafone jumps

Feb 3 Reuters British shares rose for a third straight session on Wednesday, as investors hoped for a faster economic revival due to a slew of favourable earnings updates and quicker vaccine rollouts, while Vodafone jumped after its earnings beat estimates.

The bluechip FTSE 100 index climbed 0.8, with insurance and travel stocks leading the gains, while the midcap index added 0.7.

Markets in Asia and the United States rose on renewed hopes for U.S. President Joe Bidens proposed 1.9 trillion COVID19 aid bill and an acceleration in vaccine rollout programmes.

Vodafone, the worlds secondlargest mobile operator, rose 4.4 and was the top boost to the FTSE 100 after saying its organic service revenue returned to growth in its third quarter, beating analysts expectations. nL8N2K91JJ

Drugmaker GlaxoSmithKline gained 0.3 as it struck a 150 million euros 180 million deal to develop nextgeneration vaccines against COVID19 with German biotech firm CureVac .

Glencore which mines coal, nickel, silver, zinc and copper, climbed 0.6 after it stuck to all of its production targets for 2021.

Reporting by Shashank Nayar in Bengaluru; editing by Uttaresh.V

Source Reuters


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