London Stocks Rise on Upbeat Earnings; Dunelm Jumps

Feb 10 Reuters UK stocks rose on Wednesday as a clutch of positive corporate results helped outweigh concerns about the economic impact from prolonged coronavirusinduced lockdowns, with Dunelm jumping after saying it would resume dividend payouts.

The homeware retailer also reported a higher firsthalf profit on strong online demand, sending its shares 6.1 higher.

The bluechip FTSE 100 was up 0.6 by 0806 GMT, with the financials sector tracking gains in Europe after upbeat earnings from Societe Generale and Dutch bank ABN Amro . The midcap FTSE 250 index rose 0.4 to extend gains into an eighth straight session.

Asian stocks hit a record high earlier in the day on hopes of more U.S. fiscal stimulus to boost economic growth.

Homebuilder Redrow added 0.4 after reporting an 11 rise in its firsthalf profit, while insurer Lancashire rose 2.3 as it posted a surprise profit for the year.

Reporting by Amal S in Bengaluru; editing by Uttaresh.V

Source Reuters

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