Barclays lifts FTSE 100 as lockdown worries weigh

The blue-chip FTSE 100 index rose 0.4%, with shares in the British lender jumping 2.5% as its consumer businesses swung back to profit and provisions against bad loans fell in the third quarter. The wider banks sub-index added 2.4%.


Reuters | Updated: 23-10-2020 12:50 IST | Created: 23-10-2020 12:46 IST
Barclays lifts FTSE 100 as lockdown worries weigh
Representative image

London's FTSE 100 rose on Friday after Barclays posted an upbeat quarterly profit and data showed British retail sales grew in September, although gains were capped by concerns over new coronavirus restrictions across England. The blue-chip FTSE 100 index rose 0.4%, with shares in the British lender jumping 2.5% as its consumer businesses swung back to profit, and provisions against bad loans fell in the third quarter.

The wider banks' sub-index added 2.4%. The domestically-focussed mid-cap FTSE 250 index gained 0.4%, led by travel and leisure and aero stocks.

Retail sales in the UK beat expectations last month and grew for the fifth month in a row, taking total sales volumes to 5.5% above their level before the pandemic. InterContinental Hotels Group Plc fell 0.1% after the Holiday Inn-owner posted a plunge in third-quarter hotel room revenue.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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