Energy majors lift UK's FTSE 100, M&S surges on profit upgrade

  • 11/10/2021
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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 0.3% Nov 10 (Reuters) - London’s FTSE 100 climbed on Wednesday, led by oil majors as crude prices extended gains for a fourth straight session, while Marks & Spencer surged after the British retailer delivered a strong profit and upgraded its annual forecast. The mid-cap index advanced 0.3%, buoyed by Marks & Spencer surging 15.5% to scale its highest level since January 2020 after the company beat first-half profit forecasts and raised its full-year outlook for the second time this year. The commodity-heavy FTSE 100 index gained 0.4%, led by oil majors Royal Dutch Shell and BP rising 0.9% and 2.1%, respectively, as crude prices strengthened on an unexpected fall in global supply. UK’s largest cycle retailer Halfords Group Plc jumped 12.1% after it raised its full-year earnings forecast as supply chain disruptions were beginning to ease. (Reporting by Bansari Mayur Kamdar in Bengaluru; Editing by Sherry Jacob-Phillips)

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