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British midcaps hit record high ahead of factory activity data

British midcaps hit record high ahead of factory activity data

reuters.com · 09/01/2021 03:24
British midcaps hit record high ahead of factory activity data

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FTSE 100 up 0.8%, FTSE 250 adds 0.4%

- UK shares rose on Wednesday, with the mid-cap index hitting a record high, on the back of gains in industrial and consumer discretionary stocks, while investors awaited factory activity data to gauge the pace of economic recovery.

The blue-chip FTSE 100 index .FTSE climbed 0.8%, with spirits maker Diageo Plc DGE.L and banking shares .FTNMX301010 gaining 1.7% and 1%, respectively.

Industrial .FTNMX502050 and aero .FTNMX502010 stocks added 0.7% and 0.3%, respectively.

The domestically focussed mid-cap index .FTMC advanced 0.4%. Tyman Plc TYMN.L jumped 4.8% to the top of the index after Berenberg upgraded the construction materials supplier's stock to "buy" from "hold".

Figures from mortgage lender Nationwide showed British house prices rose by 2.1% month-on-month in August after a subdued 0.6% increase in July, despite the phasing-out of a tax break for purchases in England and Northern Ireland.nL8N2Q312Y

All eyes are now on the IHS Markit/CIPS UK Manufacturing Purchasing Managers' Index (PMI) data due at 0830 GMT.

Among other stocks, WH Smith SMWH.L slipped 5.5%, after the retailer warned profitability for the year ending August 2022 would be at the lower end of market expectations, due to charges and uncertainty in travel recovery. nL4N2Q31GD



(Reporting by Devik Jain in Bengaluru; Editing by Subhranshu Sahu)

((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2062; ;))

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