Miners, AstraZeneca push FTSE 100 higher; Boohoo slumps

  • 9/30/2021
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London’s FTSE 100 rose on Thursday, led by gains in miners and Astrazeneca, while fashion retailer Boohoo slumped to a 14-month low after it warned higher inflation would hurt margins. The blue-chip FTSE 100 index gained 0.3%, with industrial miners, Astrazeneca and Diageo providing the biggest boosts. British online fashion retailer Boohoo dropped 9.7% after it warned that freight inflation in its supply chain and higher wages for its distribution centre workers would impact full-year profit margins. Astrazeneca climbed 1% after its COVID-19 vaccine showed 74% efficacy at preventing symptomatic disease in a U.S. trial. The domestically focussed mid-cap index advanced 0.4% after data showed UK’s gross domestic product increased by 5.5% in the second quarter, beating the preliminary estimate of 4.8% growth. Among other stocks, biotech group Oxford Nanopore Technologies opened at 550 pence per share in its London listing, much higher than the offer price of 425 pence. (Reporting by Bansari Mayur Kamdar; Editing by Saumyadeb Chakrabarty)

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