FTSE 100 gains on upbeat AstraZeneca results

European information business provider Relx gained 1.2% after it said it planned to raise its dividend by 3% after predicting a return to pre-COVID-19 profit trends in 2021. Retailer Ted Baker plunged 6% after reporting a 47% fall in fourth-quarter revenue, as stores in Britain were shut during the latest coronavirus lockdown and due to weak demand during the Christmas season.

London's FTSE 100 gained on Thursday boosted by drugmaker AstraZeneca's upbeat quarterly results and as information group Relx planned to raise its dividend. COVID-19 vaccine maker AstraZeneca rose 1.1% and was the top boost to the FTSE 100 after it beat analyst's estimates for fourth-quarter product sales and also forecast revenue growth in 2021.

The blue-chip FTSE 100 index rose 0.2%, with automakers and mining stocks leading gains. The mid-cap index was flat. Weighing on sentiment was a sharp drop in Britain's housing market in January as the country went back into a coronavirus lockdown and as a tax break for buyers neared its expiry, a survey showed.

Homebuilder stocks dropped 0.2%. European information business provider Relx gained 1.2% after it said it planned to raise its dividend by 3% after predicting a return to pre-COVID-19 profit trends in 2021.

Retailer Ted Baker plunged 6% after reporting a 47% fall in fourth-quarter revenue, as stores in Britain were shut during the latest coronavirus lockdown and due to weak demand during the Christmas season.