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Pin to quick picksInforma Share News (INF)

Share Price Information for Informa (INF)

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Share Price: 815.80
Bid: 814.60
Ask: 814.80
Change: 11.40 (1.42%)
Spread: 0.20 (0.025%)
Open: 808.80
High: 817.80
Low: 806.60
Prev. Close: 804.40
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UK's FTSE 100 rises on energy boost; Informa jumps

Thu, 15th Jun 2023 17:15

ECB raises rates by an expected 25 bps

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Informa lifts profit, revenue forecasts, shares jump

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Halma at the bottom of FTSE 100 post results

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FTSE 100 up 0.3%, FTSE 250 dips 0.7%

June 15 (Reuters) - UK's benchmark FTSE 100 edged higher on Thursday, as heavyweight energy stocks rose tracking higher oil prices, while events organizer Informa jumped after raising its annual forecasts.

The resource-heavy FTSE 100 gained 0.3% as energy stocks increased 0.7% after oil prices rose on a softer dollar and data showing a jump in refinery runs in top crude importer China.

Energy major Shell rose 1.3% after three brokerages raised their price target on the stock.

Informa added 3.4% after the events organiser raised its annual profit and revenue outlook.

Meanwhile, the European Central Bank (ECB) raised borrowing costs 25 basis points to 3.5%, their highest level in 22 years, a day after the U.S. Federal Reserve left rates unchanged but projected rates rising by half a percentage point by the end of 2023.

The Bank of England (BoE) is also poised to raise rates by 25 basis points next week.

"We tend to think of the UK as being relatively more defensive given the big weighting to consumer staples and healthcare," said Sanjiv Tumkur, head of equities research at Rathbones.

"So a tightening rate environment isn't necessarily too bad for the FTSE 100."

Defensive sectors such as personal care, drug and grocery stores index and the pharmaceutical index rose 1.4% and 1.3% respectively.

The domestically-focused FTSE 250 midcap index lost 0.7% pulled down by a 6.3% drop in Intermediate Capital Group as shares of the asset manager traded without the entitlement for dividends.

British equities have seesawed between gains and losses as investors struggled to balance maintaining exposure to rising equities against possible headwinds from tighter monetary policies.

Online fashion retailer ASOS soared 14.8% on returning to profitability.

Technology company Halma slumped 3.4% to the bottom of the FTSE 100, on a disappointing annual margins outlook.

Insurer Legal & General fell 2.5% after hiring Banco Santander's Antonio Simoes as its new CEO. (Reporting by Ankika Biswas, Shashwat Chauhan and Khushi Singh in Bengaluru; Editing by Rashmi Aich and Jonathan Oatis)

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TOP NEWS: Informa beats 2023 profit expectations; lifts 2024 guidance

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UK earnings, trading statements calendar - next 7 days

Monday 4 March 
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Rotork PLCFull Year Results
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5 Feb 2024 07:42

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