FTSE 100 rises on banks, industrials boost; Qinetiq Group shines

  • 5/20/2021
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(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window) * FTSE 100 up 0.4%, FTSE 250 adds 0.4% May 20 (Reuters) - Gains in financials and industrial stocks helped London’s FTSE 100 bounce back on Thursday from its worst daily performance in a week, while shares of Qinetiq Group jumped after a positive earnings update. The blue-chip index rose 0.4%, with home improvement retailer Kingfisher adding 2.3% after it raised its first-half profit outlook. The index was further boosted by industrial stocks. Experian jumped 3.2% to the top of the index, a day after its upbeat quarterly revenue forecast. Banks rose, with Natwest Group adding 1.5% as RBC upgraded the stock to “outperform” from “sector perform”. The domestically focussed mid-cap FTSE 250 index advanced 0.4%. Qinetiq Group added 4.2% after its annual underlying pretax profit rose 13% to 149.9 million pounds. (Reporting by Devik Jain in Bengaluru; editing by Uttaresh.V) Our Standards: The Thomson Reuters Trust Principles.

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