Financials, healthcare stocks lift FTSE 100; Next jumps

The blue-chip FTSE 100 index gained 0.6% by 0805 GMT as heavyweight banks tracked bond yields higher and Astrazeneca boosted health stocks. HSBC Holdings advanced 1.5% and led the banking sub-index higher, while Investec, Natwest Group and Lloyds rose between 0.3% and 0.7%.

London's FTSE 100 rose on Wednesday, driven by financial and healthcare stocks, while clothing retailer Next topped the blue-chip index after raising its annual profit outlook. The blue-chip FTSE 100 index gained 0.6% by 0805 GMT as heavyweight banks tracked bond yields higher and AstraZeneca boosted health stocks.

HSBC Holdings advanced 1.5% and led the banking sub-index higher, while Investec, Natwest Group, and Lloyds rose between 0.3% and 0.7%. AstraZeneca rose 2.5% after the pharmaceutical company said its newly acquired Alexion division would buy the remaining equity in drugmaker Caelum Biosciences in a deal that could be worth up to $500 million.

The domestically focussed mid-cap index advanced 0.7%, with travel and leisure stocks among the top gainers. In company news, clothing retailer Next Plc rose 3.6% after raising its full-year profit guidance.

Upper Crust owner SSP Group fell 1.4% over a slow recovery as sales remained at half of the pre-pandemic levels.