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Miners drive FTSE 100 higher, Smurfit Kappa climbs to top as profit jumps

reuters.com · 04/29/2022 03:29
Miners drive FTSE 100 higher, Smurfit Kappa climbs to top as profit jumps

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FTSE 100 up 0.3%, FTSE 250 adds 0.7%

- London's FTSE 100 rose on Friday, driven by gains in miners and strong quarterly earnings, edging up for the month amid concerns over soaring inflation and global economic growth.

The blue-chip index .FTSE had gained 0.3% by 07:17 GMT and was up nearly 0.2% for the month. In April, the Ukraine war, China's COVID lockdowns and surging inflation have weighed on the outlook for the global economy, sparking volatility ahead of the Bank of England's May meeting next week.

Smurfit Kappa SKG.L jumped 3.5% to the top of the index as the boxmaker's revenue and core profit both surged 33% year-on-year in the first quarter. nL2N2WR0EW

Pearson PSO added 2.4% as the education group reiterated its full-year profit forecast after reporting underlying sales growth of 7% in the first quarter. nL5N2WR25G

Leading the miners .FTNMX551020, Anglo American NGLOY gained 1.8%, providing the top boost to the FTSE 100 index.

The domestically focused mid-cap FTSE 250 index .FTMC advanced 0.7%.


(Reporting by Devik Jain in Bengaluru;
Editing by Vinay Dwivedi)

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

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