FTSE 100 flat as banks offset surge in AB Foods

London’s FTSE 100 held steady on Tuesday as banks offset a jump in Primark-owner Associated British Foods that was fueled by upbeat earnings outlook and dividend.

AB Foods jumped 6.2% to the top of the blue-chip index after it forecast a significant increase in sales and profit at its Primark fashion chain in its new financial year and announced a special dividend.

The FTSE 100 index was flat by 0819 GMT, while the domestically focussed mid-cap index added 0.2%.

Weighing on the markets, the banking sector fell 0.5%, with HSBC, Barclays and Lloyds all down about 1%.

Homebuilders gained 0.6% after Persimmon and Vistry Group Plc highlighted strong demand in the housing market and forecast upbeat outlook despite supply chain pressures. (Reporting by Bansari Mayur Kamdar in Bengaluru; Editing by Subhranshu Sahu)

Read More

Related posts

40+ Air Fryer Thanksgiving Recipes That Will Make Your Entire Holiday Season Way Easier


17 Food, Bev, and Entertaining Gifts for Under $50


Alien Food Invasion, the unique game where you hunt aliens and serve them as food, is out now on Android


Temasek ramps up agritech investment in Singapore food security push


Get exclusive recipes,
tips and more!

Leave a Reply

Your email address will not be published. Required fields are marked *