LONDON, July 1 — London’s FTSE 100 gained today as a set of strong earnings reports helped investors look past concerns over rising Covid-19 infections in the UK, while Associated British Foods jumped to the top of the blue-chip index.
The FTSE 100 climbed 1.2 per cent with heavyweight financials and precious and base metal miners leading gains on strong commodity prices. The domestically focussed mid-cap index added 0.9 per cent with flight operator Easyjet being the top boost. Travel stocks gained 2.2 per cent. The FTSE 100 has gained 10.2 per cent so far this year, helped by support from cheap interest rates and government stimulus. However, it has largely underperformed the wider European market as a recent jump in coronavirus cases raised concerns about the pace of economic recovery.