- FTSE 100 up 1.4% to record high
- Healthcare stocks lead gains
- FTSE 250 up 0.9%, hitting a four-year high
- Deloitte survey shows slight optimism among British executives
Jan 6 (Reuters) – London’s FTSE 100 closed at a record high on Tuesday, as heavyweight healthcare stocks led a broad-based rally after Britain’s AstraZeneca (AZN.L), opens new tab announced a strategic collaboration.The internationally-focused FTSE 100 (.FTSE), opens new tab rose 1.4% to 10,112.73 points, also lifted by a weaker pound that increases export revenue for exporters. The domestically focused mid-cap index <.FTMC> gained 0.9% and hit its highest in nearly four years.
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Healthcare-related stocks (.FTNMX201030), opens new tab, (.FTUB2010), opens new tab were the strongest performing sector on the UK index, and also led Europe’s STOXX 600 index (.STOXX), opens new tab higher .AstraZeneca (AZN.L), opens new tab gained 5% after the British company announced a strategic collaboration with Bostongene to advance foundation model-driven oncology development. Oxford Biomedica (OXB.L), opens new tab and GSK (GSK.L), opens new tab were up around 4% each.Precious-metal miners (.FTNMX551030), opens new tab were among the top performers, tracking higher gold and silver prices against the backdrop of geopolitical tension between Venezuela and the United States.
UK stocks have started the year on a strong note, with the blue-chip FTSE topping 10,000 points for the first time last week as investors also priced in Bank of England rate cuts later this year. Tuesday’s record high was the fourth in five sessions.
Fashion retailer Next (NXT.L), opens new tab was up 4.9% after reporting a better-than-expected increase in full-price sales for the nine weeks to December 27 and increasing its annual profit outlook for the fifth time over the last year.Online supermarket group Ocado gained 11.6% after Market researcher Worldpanel by Numerator said it had recorded the highest sales growth among UK supermarkets in the Christmas quarter.Meanwhile, a Deloitte survey showed British company executives have grown slightly more optimistic after Finance Minister Rachel Reeves’ budget, with CFOs more willing to raise investment despite overall sentiment remaining muted.
Reporting by Tharuniyaa Lakshmi in Bengaluru; Editing by Vijay Kishore, Kirsten Donovan
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