Real estate and insurance stocks pushed FTSE 100 up; Admiral jumping



Pedestrians leave and enter the London Stock Exchange in London, UK on August 15, 2017. REUTERS / Neil Hall / File Photo

  • Admiral Becomes FTSE 100 Leader With Higher Profit Forecast
  • Daily Mail Rises Due to Potential Ransom
  • AstraZeneca Gets Biggest Growth Since Jefferies Moves To PT
  • FTSE 100 up 0.1%, FTSE 250 down 0.1%

July 12 (Reuters) – London’s FTSE 100 closed higher on Monday as gains in insurance stocks led by the Admiral Group outweighed weakness in heavyweight energy and mining stocks, while fears of rising coronavirus infections in the UK dampened gains.

Admiral (ADML.L) rose 3.9% to the top of the FTSE 100 after the UK auto insurer said it expects higher-than-expected profits in the first half due to declining road traffic reports during the pandemic lockdown.

FTSE 100 Blue Chip Index (.FTSE) closed 0.1% higher with non-life insurers (.FTNMX303020), healthcare (.FTNMX201030) and real estate shares (.FTUB3510) get the most.

AstraZeneca (AZN.L) saw the biggest gain in the FTSE 100 after brokerage Jefferies raised its stock price target, while Thailand said it would use the drug maker’s vaccine as a second dose for those who received the Sinovac vaccine. (SVA.O) fired as the first dose in an attempt to boost defense. read more

Health Minister Sajid Javid said on Monday that England will continue with plans to lift almost all legal restrictions on daily life on 19 July. read more

“There is still a lot of uncertainty about the rate of growth in Delta cases and the prospect of a much slower reopening process as governments try to win the race between vaccines and the increase in cases,” said Michael Hewson, chief market analyst for CMC. Markets.

Concerns over the recent spike in coronavirus infections in the UK are keeping the FTSE 100 range at around 7100, limiting further gains as well as keeping the index well behind local mid-cap peers.

Daily Mail and General Trust Plc (DMGOa.L) rose 3.3% after the founding family and a leading investor in the publisher said it was considering acquiring the group privately in a $ 1.1 billion deal. read more

Domestic market-oriented mid-cap index (.FTMC) 0.1% lower on travel and leisure promotions (.FTNMX405010) falls the most.

Reporting by Shashanka Nayar in Bangalore Editing by Subhranshu Sahu and Mark Potter

Our standards: Thomson Reuters Trust Principles.


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