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FTSE 100 up 0.6%, FTSE 250 up 0.1%
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Oil stocks rise as crude jumps 5%
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LSEG, Rentokil climb after earnings
Oct 23 (Reuters) - London's FTSE 100 touched an intraday
record high on Thursday, lifted by oil stocks and positive
results from blue-chip firms such as LSEG and Rentokil.
The commodity-heavy FTSE 100 index rose as much as
0.7% to a record high of 9,579.07 points. It was trading up 0.6%
by 1200 GMT.
Oil majors Shell and BP gained about 3%
each, as crude prices jumped more than 5% after
the U.S. imposed sanctions on major Russian suppliers Rosneft
and Lukoil over the Ukraine war.
In earnings, the London Stock Exchange Group ( LDNXF ) jumped
6.7% after the exchange operator said it would sell 20% of its
post-trade services business, announced a surprise 1 billion
pound ($1.34 billion) buyback and reported better-than-expected
third-quarter results.
Rentokil jumped 11.8% after the pest control firm
reported a better-than-expected rise in quarterly organic
revenue.
A largely upbeat earnings season, jump in commodity stocks
and signs of cooling inflation that supported bets of a Bank of
England interest rate cut have supported UK equity markets this
week. The FTSE 100 is on track for its best weekly performance
since mid-April.
The FTSE midcap index of domestically oriented stocks
rose 0.1%, trading at a near four-year high.
An index of UK precious metal miners advanced
4.5%, tracking gold prices, as U.S. sanctions against Russia and
possible new export controls on China stoked geopolitical
concerns, buoying demand for safe-haven assets.
On the downside, Holiday Inn owner InterContinental
Hotels ( IHG ) dipped 1.2%, despite a rise in a key revenue
metric as growth slowed in US markets.
St James's Place shed 4% as the fund manager
forecast weaker flows for the fourth quarter.
Renishaw ( RNSHF ) fell 6% to the bottom of the FTSE 250 index
after the engineering firm posted weak quarterly sales.