BROWSE

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

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