Financial stocks lift FTSE 100; WH Smith climbs on strong outlook

London's FTSE 100 index climbed on Wednesday buoyed by gains in financial and consumer staple stocks after six straight sessions of losses, while shares of retailer WH Smith rose on strong annual outlook.


Reuters | London | Updated: 15-06-2022 13:08 IST | Created: 15-06-2022 12:53 IST
Financial stocks lift FTSE 100; WH Smith climbs on strong outlook
Representative image Image Credit: Flickr
  • Country:
  • United Kingdom

London's FTSE 100 index climbed on Wednesday buoyed by gains in financial and consumer staple stocks after six straight sessions of losses, while shares of retailer WH Smith rose on a strong annual outlook. The FTSE 100 was up 0.7% by 0713 GMT, with shares in Asia-focused bank HSBC gaining 1.3% to provide the biggest boost to the blue-chip index.

Whitbread rose 3.3% and was among the top gainers on the index after the Premier Inn owner-reported higher total sales in the first quarter following a recovery in hotel stays in the UK and Germany. The domestically focussed mid-cap FTSE 250 index advanced 1.2%, led by WH Smith whose shares jumped 5.2% after it forecast annual performance ahead of estimates as more people travel to work and tourists return.

Meanwhile, Asian markets were in a pensive mood as shell-shocked investors waited to see just how aggressive the U.S. Federal Reserve would be on rates, with many fearing drastic action would risk tipping the world into recession.

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

Give Feedback